Media stories about Macatawa Bank (NASDAQ:MCBC) have been trending somewhat positive this week, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Macatawa Bank earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.5557748477427 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
NASDAQ:MCBC traded up $0.04 on Wednesday, reaching $12.43. 1,954 shares of the company’s stock were exchanged, compared to its average volume of 24,428. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.92. Macatawa Bank has a 52-week low of $9.25 and a 52-week high of $12.92. The firm has a market capitalization of $424.16 million, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.00 and a beta of 0.42.
Macatawa Bank (NASDAQ:MCBC) last issued its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Macatawa Bank had a net margin of 24.45% and a return on equity of 12.57%. The company had revenue of $19.12 million for the quarter, compared to analysts’ expectations of $19.30 million. analysts expect that Macatawa Bank will post 0.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 29th. Investors of record on Tuesday, August 14th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.93%. Macatawa Bank’s dividend payout ratio is 43.64%.
A number of analysts have issued reports on MCBC shares. BidaskClub upgraded shares of Macatawa Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. Zacks Investment Research upgraded shares of Macatawa Bank from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday, August 30th. Hovde Group reiterated a “hold” rating and set a $13.00 price target on shares of Macatawa Bank in a research note on Monday, July 30th. ValuEngine lowered shares of Macatawa Bank from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Finally, DA Davidson started coverage on shares of Macatawa Bank in a research note on Friday, June 29th. They set a “neutral” rating and a $13.00 price target on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.33.
Macatawa Bank Company Profile
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.
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