Macatawa Bank Corp. (MCBC) Hits New 1-Year High at $8.17
Macatawa Bank Corp. (NASDAQ:MCBC)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $8.17 and last traded at $7.98, with a volume of 28,890 shares changing hands. The stock had previously closed at $7.95.
Several equities analysts recently commented on MCBC shares. Keefe, Bruyette & Woods increased their target price on shares of Macatawa Bank Corp. from $7.00 to $7.50 and gave the company a “market perform” rating in a report on Monday, August 1st. Hovde Group started coverage on shares of Macatawa Bank Corp. in a report on Wednesday, May 25th. They set a “market perform” rating and a $7.75 target price on the stock.
The firm has a market cap of $270.36 million and a P/E ratio of 19.44. The company’s 50-day moving average is $7.61 and its 200-day moving average is $6.91.
Macatawa Bank Corp. (NASDAQ:MCBC) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. On average, equities research analysts forecast that Macatawa Bank Corp. will post $0.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Monday, August 15th will be given a $0.03 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.12 dividend on an annualized basis and a dividend 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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