Macatawa Bank (NASDAQ:MCBC) Share Price Crosses Above 200-Day Moving Average of $9.14

Macatawa Bank Co. (NASDAQ:MCBCGet Rating)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Macatawa Bank Stock Performance

The stock has a market capitalization of $334.31 million, a P/E ratio of 12.84 and a beta of 0.67. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average price of $9.46 and a 200-day moving average price of $9.14.

Macatawa Bank (NASDAQ:MCBCGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors 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 3.28%. The ex-dividend date was Wednesday, August 10th. Macatawa Bank’s dividend payout ratio (DPR) is presently 42.11%.

Institutional Trading of Macatawa Bank

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in Macatawa Bank during the fourth quarter valued at $153,000. BHZ Capital Management LP increased its position in Macatawa Bank by 15.6% in the first quarter. BHZ Capital Management LP now owns 292,338 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 39,488 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Macatawa Bank by 66.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 12,994 shares of the financial services provider’s stock worth $115,000 after buying an additional 5,185 shares in the last quarter. rhino investment partners Inc increased its position in Macatawa Bank by 18.1% in the second quarter. rhino investment partners Inc now owns 1,007,010 shares of the financial services provider’s stock worth $8,902,000 after buying an additional 154,486 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Macatawa Bank in the first quarter worth about $29,000. Hedge funds and other institutional investors own 41.62% of the company’s stock.

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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