Mackinac Financial Co. (NASDAQ:MFNC) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 33,400 shares, a drop of 28.0% from the January 15th total of 46,400 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 14,900 shares, the short-interest ratio is currently 2.2 days.

Shares of NASDAQ:MFNC traded down $0.28 during midday trading on Friday, hitting $15.46. The company had a trading volume of 4,600 shares, compared to its average volume of 9,100. Mackinac Financial has a 12 month low of $12.97 and a 12 month high of $17.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.44. The stock has a market cap of $169.30 million, a price-to-earnings ratio of 11.89 and a beta of 0.70. The firm has a fifty day simple moving average of $16.31 and a 200 day simple moving average of $15.61.

Mackinac Financial (NASDAQ:MFNC) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). Mackinac Financial had a return on equity of 8.88% and a net margin of 19.69%. The company had revenue of $15.20 million during the quarter, compared to the consensus estimate of $15.10 million. Equities analysts forecast that Mackinac Financial will post 1.28 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of MFNC. State Street Corp lifted its holdings in Mackinac Financial by 7.4% during the third quarter. State Street Corp now owns 128,502 shares of the financial services provider’s stock worth $2,005,000 after acquiring an additional 8,868 shares in the last quarter. Millennium Management LLC bought a new position in Mackinac Financial during the third quarter worth about $200,000. BlackRock Inc. lifted its holdings in Mackinac Financial by 1,878.0% during the second quarter. BlackRock Inc. now owns 432,775 shares of the financial services provider’s stock worth $6,838,000 after acquiring an additional 410,896 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Mackinac Financial by 7.1% during the second quarter. Vanguard Group Inc. now owns 412,749 shares of the financial services provider’s stock worth $6,522,000 after acquiring an additional 27,521 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Mackinac Financial by 57.4% during the second quarter. Northern Trust Corp now owns 22,075 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 8,054 shares in the last quarter. Institutional investors and hedge funds own 50.58% of the company’s stock.

MFNC has been the topic of several recent research reports. Zacks Investment Research lowered Mackinac Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. ValuEngine upgraded Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st.

Mackinac Financial Company Profile

Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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