Siena Capital Partners GP LLC Acquires 80,861 Shares of Macatawa Bank Co. (NASDAQ:MCBC)

Siena Capital Partners GP LLC raised its holdings in shares of Macatawa Bank Co. (NASDAQ:MCBC) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,396 shares of the financial services provider’s stock after acquiring an additional 80,861 shares during the quarter. Siena Capital Partners GP LLC owned about 0.95% of Macatawa Bank worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Ameritas Investment Company LLC bought a new position in shares of Macatawa Bank in the first quarter worth $28,000. Berman Capital Advisors LLC bought a new position in shares of Macatawa Bank in the first quarter worth $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Macatawa Bank by 56.3% in the second quarter. Nisa Investment Advisors LLC now owns 6,250 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 2,250 shares during the period. UBS Group AG increased its holdings in shares of Macatawa Bank by 48.9% in the first quarter. UBS Group AG now owns 5,607 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,841 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Macatawa Bank by 81.1% in the first quarter. BNP Paribas Arbitrage SA now owns 12,995 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 5,820 shares during the period. 35.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Macatawa Bank stock traded down $0.08 during trading on Monday, hitting $7.42. The stock had a trading volume of 321 shares, compared to its average volume of 76,046. Macatawa Bank Co. has a 12 month low of $6.23 and a 12 month high of $10.66. The business’s 50-day moving average is $8.20 and its 200 day moving average is $9.10. The firm has a market cap of $253.70 million, a price-to-earnings ratio of 8.06 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32.

Macatawa Bank (NASDAQ:MCBC) last announced its earnings results on Wednesday, July 21st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Macatawa Bank had a net margin of 35.41% and a return on equity of 13.15%. The company had revenue of $20.63 million during the quarter.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 26th. Investors of record on Wednesday, August 11th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 10th. This represents a $0.32 annualized dividend and a yield of 4.31%.

About Macatawa Bank

Macatawa Bank Corp. operates as a holding company, which engages in the provision of financial services. The company offers a range of commercial and personal banking services. It also includes checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans, internet and telephone banking, and debit cards.

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Institutional Ownership by Quarter for Macatawa Bank (NASDAQ:MCBC)

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