Macatawa Bank Co. (MCBC) Given Consensus Rating of “Hold” by Brokerages

Share on StockTwits

Macatawa Bank Co. (NASDAQ:MCBC) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.67.

MCBC has been the subject of a number of recent research reports. ValuEngine raised Macatawa Bank from a “sell” rating to a “hold” rating in a research report on Saturday, December 15th. BidaskClub raised Macatawa Bank from a “sell” rating to a “hold” rating in a research report on Saturday, December 22nd. Finally, Zacks Investment Research cut Macatawa Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, November 2nd.

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in Macatawa Bank by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 205,167 shares of the financial services provider’s stock worth $1,973,000 after acquiring an additional 2,802 shares during the period. BlackRock Inc. lifted its position in Macatawa Bank by 0.9% during the 4th quarter. BlackRock Inc. now owns 1,447,300 shares of the financial services provider’s stock worth $13,923,000 after acquiring an additional 13,437 shares during the period. Acadian Asset Management LLC lifted its position in Macatawa Bank by 19.2% during the 4th quarter. Acadian Asset Management LLC now owns 162,589 shares of the financial services provider’s stock worth $1,565,000 after acquiring an additional 26,169 shares during the period. Rhumbline Advisers lifted its position in Macatawa Bank by 42.9% during the 4th quarter. Rhumbline Advisers now owns 36,276 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 10,892 shares during the period. Finally, Vanguard Group Inc lifted its position in Macatawa Bank by 3.4% during the 3rd quarter. Vanguard Group Inc now owns 1,120,677 shares of the financial services provider’s stock worth $13,123,000 after acquiring an additional 37,253 shares during the period. 31.06% of the stock is owned by institutional investors.

NASDAQ:MCBC traded up $0.03 during mid-day trading on Monday, reaching $10.11. 22,300 shares of the stock were exchanged, compared to its average volume of 26,468. The company has a market capitalization of $342.86 million, a PE ratio of 12.96, a P/E/G ratio of 1.56 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Macatawa Bank has a 1 year low of $8.81 and a 1 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $20.03 million for the quarter, compared to the consensus estimate of $19.70 million. Macatawa Bank had a return on equity of 14.68% and a net margin of 30.48%. As a group, sell-side analysts anticipate that Macatawa Bank will post 0.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 27th. Shareholders of record on Tuesday, February 12th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, February 11th. This represents a $0.28 dividend on an annualized basis and a yield of 2.77%. Macatawa Bank’s payout ratio is 35.90%.

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.

Recommended Story: Yield Curve

Receive News & Ratings for Macatawa Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macatawa Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Roku Inc  Expected to Announce Earnings of $0.01 Per Share
Roku Inc Expected to Announce Earnings of $0.01 Per Share
SRS Capital Advisors Inc. Purchases 245 Shares of iShares Core Growth Allocation ETF
SRS Capital Advisors Inc. Purchases 245 Shares of iShares Core Growth Allocation ETF
Netflix, Inc.  Shares Sold by SRS Capital Advisors Inc.
Netflix, Inc. Shares Sold by SRS Capital Advisors Inc.
Thornburg Investment Management Inc. Takes Position in Schwab International Equity ETF
Thornburg Investment Management Inc. Takes Position in Schwab International Equity ETF
11,240 Shares in James River Group Holdings Ltd  Purchased by Smith Asset Management Group LP
11,240 Shares in James River Group Holdings Ltd Purchased by Smith Asset Management Group LP
Kraft Heinz Co  Shares Sold by Reaves W H & Co. Inc.
Kraft Heinz Co Shares Sold by Reaves W H & Co. Inc.


Leave a Reply

 
© 2006-2019 Zolmax.