Macatawa Bank Corp. (MCBC) Shares Down 4.4%
Macatawa Bank Corp. (NASDAQ:MCBC)’s share price traded down 4.4% during mid-day trading on Wednesday . The stock traded as low as $7.75 and last traded at $7.75, with a volume of 180,619 shares changing hands. The stock had previously closed at $8.11.
Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target 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 assumed coverage on Macatawa Bank Corp. in a research note on Wednesday, May 25th. They set a “market perform” rating and a $7.75 price target on the stock.
The firm’s 50-day moving average is $7.66 and its 200-day moving average is $6.97. The company has a market cap of $263.91 million and a PE ratio of 18.98.
Macatawa Bank Corp. (NASDAQ:MCBC) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.11 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.11. On average, equities research analysts expect that Macatawa Bank Corp. will post $0.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Monday, August 15th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.12 dividend on an annualized basis and a yield of 1.54%.
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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