Zacks Investment Research Downgrades Bank Mutual Corporation (NASDAQ:BKMU) to Hold

Bank Mutual Corporation (NASDAQ:BKMU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, June 26th.

According to Zacks, “Bank Mutual Corporation is a financial institution holding company for two subsidiary banks, Mutual Savings Bank and First Northern Savings Bank. “

Bank Mutual Corporation (NASDAQ BKMU) traded up 4.86% during mid-day trading on Monday, hitting $9.70. 695,443 shares of the stock traded hands. The firm has a market cap of $445.54 million, a P/E ratio of 27.71 and a beta of 0.53. Bank Mutual Corporation has a 52-week low of $7.31 and a 52-week high of $10.20. The firm’s 50-day moving average is $9.23 and its 200 day moving average is $9.45.

Bank Mutual Corporation (NASDAQ:BKMU) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Bank Mutual Corporation had a return on equity of 5.68% and a net margin of 14.77%. The firm had revenue of $24.71 million during the quarter, compared to analyst estimates of $25.10 million. Equities analysts predict that Bank Mutual Corporation will post $0.38 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. TD Asset Management Inc. raised its position in shares of Bank Mutual Corporation by 9.9% in the first quarter. TD Asset Management Inc. now owns 11,100 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bank Mutual Corporation during the fourth quarter worth $121,000. Citadel Advisors LLC raised its position in shares of Bank Mutual Corporation by 9.8% in the first quarter. Citadel Advisors LLC now owns 15,869 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,417 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Bank Mutual Corporation by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the financial services provider’s stock worth $157,000 after buying an additional 100 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Bank Mutual Corporation by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,721 shares of the financial services provider’s stock worth $177,000 after buying an additional 2,600 shares during the period. 55.51% of the stock is owned by institutional investors and hedge funds.

About Bank Mutual Corporation

Bank Mutual Corporation is a savings and loan holding company. The Company owns Bank Mutual (the Bank), a federally-chartered savings bank. The Bank is engaged in the business of community banking, which includes attracting deposits from and making loans to the general public and private businesses, as well as governmental and non-profit entities.

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