Macatawa Bank (NASDAQ:MCBC) Stock Crosses Above Two Hundred Day Moving Average of $9.14

Macatawa Bank Co. (NASDAQ:MCBCGet Rating) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.14 and traded as high as $9.80. Macatawa Bank shares last traded at $9.76, with a volume of 24,790 shares trading hands.

Macatawa Bank Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50-day moving average of $9.50 and a 200-day moving average of $9.15. The firm has a market capitalization of $327.12 million, a price-to-earnings ratio of 12.58 and a beta of 0.67.

Macatawa Bank (NASDAQ:MCBCGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Macatawa Bank had a return on equity of 10.45% and a net margin of 33.38%.

Macatawa Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, August 10th. Macatawa Bank’s dividend payout ratio (DPR) is currently 42.11%.

Hedge Funds Weigh In On Macatawa Bank

A number of large investors have recently bought and sold shares of MCBC. First Trust Advisors LP boosted its position in Macatawa Bank by 7.3% during the 4th quarter. First Trust Advisors LP now owns 15,866 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 1,081 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Macatawa Bank during the 4th quarter worth approximately $153,000. BNP Paribas Arbitrage SA raised its stake in shares of Macatawa Bank by 66.4% during the 4th quarter. BNP Paribas Arbitrage SA now owns 12,994 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 5,185 shares in the last quarter. Maltese Capital Management LLC raised its stake in shares of Macatawa Bank by 169.8% during the 4th quarter. Maltese Capital Management LLC now owns 107,900 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 67,900 shares in the last quarter. Finally, LVZ Inc. raised its stake in shares of Macatawa Bank by 28.1% during the 1st quarter. LVZ Inc. now owns 15,263 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 3,347 shares in the last quarter. Institutional investors and hedge funds own 41.62% of the company’s stock.

About Macatawa Bank

(Get Rating)

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits.

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