Macatawa Bank Co. to Issue Quarterly Dividend of $0.07 (NASDAQ:MCBC)

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Macatawa Bank Co. (NASDAQ:MCBC) declared a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, November 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, November 8th.

Shares of MCBC traded up $0.10 during mid-day trading on Wednesday, reaching $10.59. 2,055 shares of the company’s stock were exchanged, compared to its average volume of 35,252. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $10.26. Macatawa Bank has a 52-week low of $8.81 and a 52-week high of $11.16. The company has a market cap of $355.94 million, a price-to-earnings ratio of 13.58 and a beta of 0.48.

Macatawa Bank (NASDAQ:MCBC) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Macatawa Bank had a net margin of 32.46% and a return on equity of 15.57%. The business had revenue of $21.05 million during the quarter. As a group, equities research analysts predict that Macatawa Bank will post 0.87 EPS for the current fiscal year.

A number of brokerages have recently weighed in on MCBC. BidaskClub raised shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Zacks Investment Research raised shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine raised shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

About Macatawa Bank

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides 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: Trading Ex-Dividend Strategy

Dividend History for Macatawa Bank (NASDAQ:MCBC)

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