StockNews.com began coverage on shares of Macatawa Bank (NASDAQ:MCBC – Free Report) in a report published on Friday morning. The firm issued a sell rating on the financial services provider’s stock.
Macatawa Bank Price Performance
MCBC stock opened at $14.24 on Friday. The stock has a market capitalization of $489.29 million, a PE ratio of 11.87 and a beta of 0.67. The company’s 50-day moving average is $10.50 and its 200-day moving average is $10.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.73 and a quick ratio of 0.73. Macatawa Bank has a 1 year low of $8.31 and a 1 year high of $14.45.
Macatawa Bank (NASDAQ:MCBC – Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $26.13 million for the quarter, compared to the consensus estimate of $26.90 million. Macatawa Bank had a return on equity of 14.99% and a net margin of 30.56%. Equities research analysts expect that Macatawa Bank will post 1.26 EPS for the current fiscal year.
Macatawa Bank Announces Dividend
Hedge Funds Weigh In On Macatawa Bank
Several large investors have recently added to or reduced their stakes in MCBC. Raymond James Financial Services Advisors Inc. lifted its position in Macatawa Bank by 307.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 117,559 shares of the financial services provider’s stock valued at $1,326,000 after acquiring an additional 88,741 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Macatawa Bank by 26.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 335,408 shares of the financial services provider’s stock valued at $3,005,000 after acquiring an additional 69,609 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Macatawa Bank by 284.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,024 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 54,031 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Macatawa Bank in the 3rd quarter valued at about $206,000. Finally, Bailard Inc. lifted its position in shares of Macatawa Bank by 125.3% during the 3rd quarter. Bailard Inc. now owns 40,100 shares of the financial services provider’s stock worth $359,000 after buying an additional 22,300 shares in the last quarter. Institutional investors own 42.49% of the company’s stock.
About Macatawa Bank
Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that engages in the provision of commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits.
See Also
- Five stocks we like better than Macatawa Bank
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- MarketBeat Week in Review – 4/22 – 4/26
- Buy P&G Now, Before It Sets A New All-Time High
- 3 Stocks Leading the U.S. Agriculture Comeback
- Financial Services Stocks Investing
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Macatawa Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macatawa Bank and related companies with MarketBeat.com's FREE daily email newsletter.