EJF Capital LLC Increases Stock Holdings in Mackinac Financial Co. (NASDAQ:MFNC)

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EJF Capital LLC raised its stake in Mackinac Financial Co. (NASDAQ:MFNC) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,000 shares of the financial services provider’s stock after purchasing an additional 37,064 shares during the period. EJF Capital LLC owned 4.89% of Mackinac Financial worth $8,295,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Strs Ohio purchased a new position in Mackinac Financial in the second quarter valued at approximately $39,000. Acadian Asset Management LLC increased its stake in Mackinac Financial by 188.3% in the second quarter. Acadian Asset Management LLC now owns 11,313 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 7,389 shares during the last quarter. Naples Global Advisors LLC increased its stake in Mackinac Financial by 10.5% in the second quarter. Naples Global Advisors LLC now owns 21,015 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 2,000 shares during the last quarter. Northern Trust Corp increased its stake in Mackinac Financial by 57.4% in the second quarter. Northern Trust Corp now owns 22,075 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 8,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Mackinac Financial in the second quarter valued at approximately $350,000. Institutional investors own 49.43% of the company’s stock.

Shares of MFNC traded up $0.06 during mid-day trading on Thursday, reaching $15.36. 648 shares of the company’s stock were exchanged, compared to its average volume of 11,972. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $165.84 million, a PE ratio of 12.66 and a beta of 0.66. The business’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $15.45. Mackinac Financial Co. has a 52-week low of $12.60 and a 52-week high of $17.00.

Mackinac Financial (NASDAQ:MFNC) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $14.91 million for the quarter, compared to analyst estimates of $15.00 million. Mackinac Financial had a net margin of 19.24% and a return on equity of 9.08%. Equities research analysts predict that Mackinac Financial Co. will post 1.35 earnings per share for the current year.

The firm also recently announced a 0.12000 dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a dividend yield of 3.1%. Mackinac Financial’s dividend payout ratio (DPR) is presently 39.34%.

A number of equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Mackinac Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Mackinac Financial from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, August 8th.

Mackinac Financial Company Profile

Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

Further Reading: Sell-Side Analysts

Institutional Ownership by Quarter for Mackinac Financial (NASDAQ:MFNC)

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