Macatawa Bank (NASDAQ:MCBC – Get Rating) announced its earnings results on Thursday. The financial services provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02, MarketWatch Earnings reports. Macatawa Bank had a return on equity of 11.64% and a net margin of 35.24%.
MCBC opened at $8.75 on Friday. Macatawa Bank has a 52 week low of $7.37 and a 52 week high of $10.00. The business has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $8.91. The firm has a market cap of $299.78 million, a P/E ratio of 10.94 and a beta of 0.74. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.33.
In related news, Director Thomas P. Rosenbach acquired 7,000 shares of Macatawa Bank stock in a transaction dated Wednesday, March 9th. The shares were acquired at an average cost of $9.08 per share, for a total transaction of $63,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.40% of the stock is currently owned by company insiders.
Separately, StockNews.com started coverage on Macatawa Bank in a report on Thursday, March 31st. They issued a “hold” rating for the company.
Macatawa Bank Company Profile (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.
- Get a free copy of the StockNews.com research report on Macatawa Bank (MCBC)
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