Mackinac Financial Corporation (NASDAQ:MFNC) Upgraded by TheStreet to B-

Mackinac Financial Corporation (NASDAQ:MFNC) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Friday, July 28th.

Separately, ValuEngine raised Mackinac Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.

Shares of Mackinac Financial Corporation (MFNC) opened at 14.40 on Friday. The stock has a market capitalization of $90.63 million, a PE ratio of 13.11 and a beta of 0.66. Mackinac Financial Corporation has a 52 week low of $11.00 and a 52 week high of $14.98. The company’s 50 day moving average price is $14.07 and its 200-day moving average price is $13.78.

Mackinac Financial Corporation (NASDAQ:MFNC) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.27 EPS for the quarter. Mackinac Financial Corporation had a return on equity of 8.79% and a net margin of 14.88%. The firm had revenue of $10.11 million during the quarter.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in Mackinac Financial Corporation by 66.7% in the second quarter. LSV Asset Management now owns 7,500 shares of the financial services provider’s stock valued at $105,000 after buying an additional 3,000 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its position in Mackinac Financial Corporation by 7.7% in the second quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 1,000 shares in the last quarter. Naples Global Advisors LLC boosted its position in Mackinac Financial Corporation by 58.2% in the second quarter. Naples Global Advisors LLC now owns 16,450 shares of the financial services provider’s stock valued at $230,000 after buying an additional 6,050 shares in the last quarter. Context BH Capital Management LP boosted its position in Mackinac Financial Corporation by 1.1% in the second quarter. Context BH Capital Management LP now owns 26,448 shares of the financial services provider’s stock valued at $370,000 after buying an additional 300 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Mackinac Financial Corporation by 247.5% in the second quarter. Kennedy Capital Management Inc. now owns 104,833 shares of the financial services provider’s stock valued at $1,467,000 after buying an additional 74,668 shares in the last quarter. 28.67% of the stock is owned by institutional investors and hedge funds.

About Mackinac Financial Corporation

Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.

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