Macatawa Bank Corporation (MCBC) Earning Somewhat Positive Media Coverage, Analysis Finds
News headlines about Macatawa Bank Corporation (NASDAQ:MCBC) have trended somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research group ranks the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Macatawa Bank Corporation earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 46.1786476205478 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Macatawa Bank Corporation (MCBC) traded up 0.95% during trading on Tuesday, reaching $9.57. 17,620 shares of the company’s stock were exchanged. Macatawa Bank Corporation has a 12 month low of $7.81 and a 12 month high of $10.67. The firm’s 50-day moving average price is $9.44 and its 200-day moving average price is $9.60. The firm has a market cap of $324.79 million, a price-to-earnings ratio of 18.09 and a beta of 1.13.
Macatawa Bank Corporation (NASDAQ:MCBC) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $17.18 million during the quarter. Macatawa Bank Corporation had a return on equity of 10.86% and a net margin of 24.52%. On average, equities research analysts anticipate that Macatawa Bank Corporation will post $0.56 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 15th were given a $0.05 dividend. This is a positive change from Macatawa Bank Corporation’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, August 11th. Macatawa Bank Corporation’s dividend payout ratio is presently 37.74%.
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $10.00 price objective on shares of Macatawa Bank Corporation in a research report on Friday, July 14th. BidaskClub cut shares of Macatawa Bank Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
COPYRIGHT VIOLATION WARNING: This piece was reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/12/macatawa-bank-corporation-mcbc-earning-somewhat-positive-media-coverage-analysis-finds.html.
In related news, insider Matthew D. Hoeksema purchased 5,031 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $9.50 per share, with a total value of $47,794.50. Following the transaction, the insider now owns 25,601 shares of the company’s stock, valued at approximately $243,209.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.
Macatawa Bank Corporation Company Profile
Macatawa Bank Corporation is a bank holding company. The Company, through its subsidiary, Macatawa Bank (the Bank), offers a range of commercial and personal banking services, including checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans.
Receive News & Ratings for Macatawa Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macatawa Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.