Macatawa Bank Corp. (MCBC) Sees Unusually-High Trading Volume
Macatawa Bank Corp. (NASDAQ:MCBC) saw an uptick in trading volume on Friday . 324,059 shares changed hands during trading, an increase of 303% from the previous session’s volume of 80,323 shares.The stock last traded at $7.75 and had previously closed at $7.60.
Separately, Hovde Group began coverage on Macatawa Bank Corp. in a report on Wednesday, May 25th. They set a “market perform” rating and a $7.75 price target on the stock.
The firm has a 50 day moving average of $7.20 and a 200 day moving average of $6.64. The company has a market cap of $262.90 million and a P/E ratio of 19.00.
Macatawa Bank Corp. (NASDAQ:MCBC) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Analysts expect that Macatawa Bank Corp. will post $0.45 earnings per share for the current year.
An institutional investor recently raised its position in Macatawa Bank Corp. stock. Dimensional Fund Advisors LP raised its stake in Macatawa Bank Corp. (NASDAQ:MCBC) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 SEC filing.
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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