Macatawa Bank Co. (NASDAQ:MCBC) has been given an average recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.67.
MCBC has been the subject of several recent research reports. BidaskClub raised Macatawa Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. ValuEngine lowered Macatawa Bank from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research lowered Macatawa Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, November 2nd.
Shares of MCBC traded down $0.06 during trading hours on Monday, hitting $10.08. The company had a trading volume of 17,464 shares, compared to its average volume of 25,761. The firm has a market cap of $342.82 million, a price-to-earnings ratio of 12.92, a PEG ratio of 1.56 and a beta of 0.55. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60. Macatawa Bank has a one year low of $8.81 and a one year high of $12.92.
Macatawa Bank (NASDAQ:MCBC) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $20.03 million during the quarter, compared to analyst estimates of $19.70 million. Macatawa Bank had a return on equity of 14.68% and a net margin of 30.48%. On average, equities research analysts forecast that Macatawa Bank will post 0.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Tuesday, February 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Monday, February 11th. Macatawa Bank’s dividend payout ratio is currently 35.90%.
A number of large investors have recently made changes to their positions in MCBC. O Shaughnessy Asset Management LLC acquired a new position in shares of Macatawa Bank in the third quarter valued at about $183,000. Rehmann Capital Advisory Group increased its holdings in shares of Macatawa Bank by 7.9% in the third quarter. Rehmann Capital Advisory Group now owns 17,955 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 1,313 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Macatawa Bank in the second quarter valued at about $216,000. MetLife Investment Advisors LLC increased its holdings in shares of Macatawa Bank by 50.5% in the third quarter. MetLife Investment Advisors LLC now owns 21,700 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 7,284 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Macatawa Bank by 42.9% in the fourth quarter. Rhumbline Advisers now owns 36,276 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 10,892 shares during the period. 31.03% of the stock is currently owned by institutional investors.
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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