Mackinac Financial Co. (NASDAQ:MFNC) Sees Large Decline in Short Interest
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.
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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