Macatawa Bank Co. (NASDAQ:MCBC – Get Rating) Director Thomas P. Rosenbach purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average cost of $8.91 per share, for a total transaction of $26,730.00. Following the completion of the purchase, the director now directly owns 63,477 shares in the company, valued at approximately $565,580.07. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
MCBC opened at $8.99 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $8.99 and its two-hundred day simple moving average is $8.96. Macatawa Bank Co. has a 1-year low of $7.37 and a 1-year high of $9.85. The firm has a market capitalization of $307.91 million, a price-to-earnings ratio of 11.24 and a beta of 0.71.
Macatawa Bank (NASDAQ:MCBC – Get Rating) last released its 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%.
Separately, StockNews.com assumed coverage on shares of Macatawa Bank in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in Macatawa Bank in the 4th quarter worth approximately $47,000. Goldman Sachs Group Inc. raised its position in shares of Macatawa Bank by 42.2% during the 3rd quarter. Goldman Sachs Group Inc. now owns 142,468 shares of the financial services provider’s stock valued at $1,144,000 after buying an additional 42,262 shares during the period. Two Sigma Investments LP raised its position in shares of Macatawa Bank by 98.6% during the 3rd quarter. Two Sigma Investments LP now owns 95,463 shares of the financial services provider’s stock valued at $767,000 after buying an additional 47,399 shares during the period. Maltese Capital Management LLC purchased a new stake in shares of Macatawa Bank during the 3rd quarter valued at approximately $321,000. Finally, BHZ Capital Management LP raised its position in shares of Macatawa Bank by 26.6% during the 4th quarter. BHZ Capital Management LP now owns 252,850 shares of the financial services provider’s stock valued at $2,230,000 after buying an additional 53,117 shares during the period. 38.49% of the stock is currently owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on Macatawa Bank (MCBC)
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