Macatawa Bank Corp. (MCBC) Shares Gap Up to $7.72
Macatawa Bank Corp. (NASDAQ:MCBC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $7.71, but opened at $7.72. Macatawa Bank Corp. shares last traded at $7.94, with a volume of 14,298 shares trading hands.
A number of equities analysts have commented on MCBC shares. Keefe, Bruyette & Woods lifted their target price on Macatawa Bank Corp. from $7.00 to $7.50 and gave the company a “market perform” rating in a research note on Monday, August 1st. Hovde Group started coverage on Macatawa Bank Corp. in a research note on Wednesday, May 25th. They issued a “market perform” rating and a $7.75 target price for the company.
The firm has a market cap of $269.68 million and a P/E ratio of 19.39. The firm’s 50 day moving average price is $7.59 and its 200-day moving average price is $6.89.
Macatawa Bank Corp. (NASDAQ:MCBC) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. Equities analysts forecast that Macatawa Bank Corp. will post $0.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Monday, August 15th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.12 annualized dividend and a yield of 1.51%.
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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