Market Overview

UPDATE: FIG Partners Upgrades MutualFirst Financial to Outperform on 4Q12 EPS

Related MFSF
D.A. Davidson Assumes Coverage On Several Regional Banks
MutualFirst Financial Shares Overvalued, Says D.A. Davidson
MutualFirst Financial beats by $0.06, beats on revenue (Seeking Alpha)

In a report published Wednesday, FIG Partners upgraded its rating on MutualFirst Financial (NASDAQ: MFSF) from Market Perform to Outperform and reiterated its $15.00 price target.

FIG Partners noted, “We are raising our rating on shares of MFSF to ‘Outperform'. Admittedly, we have missed the stock price run up over the last 12 months, but we believe upside continues to exist as the company posts positive profits and grows tangible book value in coming quarters. Our one year price target of $15 assumes shares trade at 95% of tangible book or 17x our 2013 earnings estimate. Credit quality and profitability are not yet at acceptable levels though are expected to improve. We believe the company must demonstrate some traction on the commercial lending front following it's charter change a year ago in order to maintain its independence.”

MutualFirst Financial closed on Tuesday at $13.15.

Latest Ratings for MFSF

Jul 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Jul 2016DA DavidsonInitiates Coverage onUnderperform
Apr 2015Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for MFSF
View the Latest Analyst Ratings

Posted-In: FIG PartnersAnalyst Color Upgrades Analyst Ratings


Related Articles (MFSF)

View Comments and Join the Discussion!