Mackinac Financial Co. (MFNC) CFO Sells $12,195.00 in Stock

Mackinac Financial Co. (NASDAQ:MFNC) CFO Jesse A. Deering sold 750 shares of the firm’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $16.26, for a total value of $12,195.00. Following the transaction, the chief financial officer now owns 12,439 shares of the company’s stock, valued at approximately $202,258.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mackinac Financial stock opened at $16.27 on Friday. The firm has a market capitalization of $102.67, a PE ratio of 18.49 and a beta of 0.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.98. Mackinac Financial Co. has a 12-month low of $13.16 and a 12-month high of $16.80.

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Mackinac Financial (NASDAQ:MFNC) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.33 earnings per share for the quarter. The firm had revenue of $10.98 million during the quarter. Mackinac Financial had a return on equity of 9.31% and a net margin of 11.32%.

Separately, ValuEngine upgraded Mackinac Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.

An institutional investor recently raised its position in Mackinac Financial stock. Kennedy Capital Management Inc. grew its position in shares of Mackinac Financial Co. (NASDAQ:MFNC) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,653 shares of the financial services provider’s stock after purchasing an additional 6,689 shares during the period. Kennedy Capital Management Inc. owned approximately 2.35% of Mackinac Financial worth $2,348,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 28.75% of the company’s stock.

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Mackinac Financial Company Profile

Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.

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