Thomas P. Rosenbach Buys 1,855 Shares of Macatawa Bank Co. (NASDAQ:MCBC) Stock

Macatawa Bank Co. (NASDAQ:MCBCGet Rating) Director Thomas P. Rosenbach acquired 1,855 shares of the business’s stock in a transaction on Monday, May 9th. The stock was acquired at an average cost of $8.83 per share, with a total value of $16,379.65. Following the acquisition, the director now directly owns 62,122 shares in the company, valued at $548,537.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Macatawa Bank stock opened at $8.89 on Thursday. The company has a 50 day moving average of $8.99 and a 200-day moving average of $8.96. Macatawa Bank Co. has a 1-year low of $7.37 and a 1-year high of $9.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a market cap of $304.52 million, a PE ratio of 11.11 and a beta of 0.71.

Macatawa Bank (NASDAQ:MCBCGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Macatawa Bank had a net margin of 34.64% and a return on equity of 10.89%.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, May 11th. Macatawa Bank’s dividend payout ratio (DPR) is presently 40.00%.

Separately, StockNews.com initiated coverage on shares of Macatawa Bank in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of Macatawa Bank by 516.8% during the 4th quarter. Lazard Asset Management LLC now owns 3,898 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 3,266 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Macatawa Bank in the 4th quarter valued at approximately $47,000. Citigroup Inc. lifted its stake in Macatawa Bank by 122.6% in the 4th quarter. Citigroup Inc. now owns 6,565 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,616 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in Macatawa Bank in the 4th quarter valued at approximately $61,000. Finally, CWM LLC lifted its stake in Macatawa Bank by 649.1% in the 1st quarter. CWM LLC now owns 7,042 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 6,102 shares during the last quarter. 38.49% of the stock is owned by institutional investors.

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.

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