Macatawa Bank Corp. (MCBC) Stock Price Up 1.4%
Shares of Macatawa Bank Corp. (NASDAQ:MCBC) rose 1.4% during mid-day trading on Tuesday . The company traded as high as $7.49 and last traded at $7.43, with a volume of 66,801 shares traded. The stock had previously closed at $7.33.
MCBC has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Macatawa Bank Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. Hovde Group initiated coverage on shares of Macatawa Bank Corp. in a research note on Wednesday, May 25th. They issued a “market perform” rating and a $7.75 price objective for the company.
The company has a market capitalization of $252.06 million and a PE ratio of 18.72. The firm has a 50-day moving average price of $7.11 and a 200 day moving average price of $6.56.
Macatawa Bank Corp. (NASDAQ:MCBC) last released its earnings results on Thursday, April 28th. The financial services provider reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Equities research analysts expect that Macatawa Bank Corp. will post $0.45 EPS for the current year.
An institutional investor recently raised its position in Macatawa Bank Corp. stock. Dimensional Fund Advisors LP increased its position in Macatawa Bank Corp. (NASDAQ:MCBC) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,282,485 shares of the financial services provider’s stock after buying an additional 13,906 shares during the period. Dimensional Fund Advisors LP owned 3.78% of Macatawa Bank Corp. worth $7,759,000 as of its most recent filing with the SEC.
Macatawa Bank Corporation is a bank holding company. The Company owns Macatawa Bank (the Bank). The Company focuses on commercial banking. It also offers automated teller machines (ATMs), Internet banking, telephone banking and debit cards. It offers personal trust services, which include financial planning, investment management services, trust and estate administration, and custodial services.
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