Deutsche Bank AG Reduces Position in Macatawa Bank Co. (MCBC)

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Deutsche Bank AG lowered its stake in shares of Macatawa Bank Co. (NASDAQ:MCBC) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,576 shares of the financial services provider’s stock after selling 22,514 shares during the quarter. Deutsche Bank AG’s holdings in Macatawa Bank were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Macatawa Bank by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 229,283 shares of the financial services provider’s stock valued at $2,205,000 after purchasing an additional 13,448 shares during the period. Dimensional Fund Advisors LP lifted its position in Macatawa Bank by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,564,351 shares of the financial services provider’s stock valued at $15,049,000 after purchasing an additional 26,220 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Macatawa Bank by 351.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 7,284 shares during the period. Bank of America Corp DE lifted its position in Macatawa Bank by 7.1% during the 4th quarter. Bank of America Corp DE now owns 86,479 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,746 shares during the period. Finally, Two Sigma Investments LP lifted its position in Macatawa Bank by 106.4% during the 4th quarter. Two Sigma Investments LP now owns 30,242 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 15,590 shares during the period. 33.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of MCBC stock opened at $10.49 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $355.76 million, a PE ratio of 13.45, a P/E/G ratio of 1.56 and a beta of 0.59. Macatawa Bank Co. has a one year low of $8.81 and a one year high of $12.92.

Macatawa Bank (NASDAQ:MCBC) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $20.35 million during the quarter, compared to analysts’ expectations of $20.20 million. Macatawa Bank had a return on equity of 15.03% and a net margin of 31.44%. As a group, sell-side analysts expect that Macatawa Bank Co. will post 0.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, May 14th will be paid a $0.07 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.67%. Macatawa Bank’s dividend payout ratio (DPR) is presently 35.90%.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Macatawa Bank from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, May 2nd. BidaskClub upgraded shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, ValuEngine downgraded shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.50.

In other news, VP Jill A. Walcott sold 15,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $10.33, for a total value of $154,950.00. Following the completion of the sale, the vice president now directly owns 68,960 shares of the company’s stock, valued at approximately $712,356.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jill A. Walcott sold 4,200 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.28, for a total value of $43,176.00. Following the completion of the sale, the vice president now directly owns 75,416 shares of the company’s stock, valued at $775,276.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,100 shares of company stock valued at $218,589. 8.60% of the stock is currently owned by company insiders.

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

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