Renaissance Technologies LLC Sells 66,900 Shares of Macatawa Bank Co. (NASDAQ:MCBC)

Renaissance Technologies LLC trimmed its position in shares of Macatawa Bank Co. (NASDAQ:MCBC – Get Rating) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 932,317 shares of the financial services provider’s stock after selling 66,900 shares during the quarter. Renaissance Technologies LLC owned approximately 2.72% of Macatawa Bank worth $8,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. rhino investment partners Inc raised its position in Macatawa Bank by 18.1% in the 2nd quarter. rhino investment partners Inc now owns 1,007,010 shares of the financial services provider’s stock valued at $8,902,000 after purchasing an additional 154,486 shares during the last quarter. AE Wealth Management LLC bought a new stake in Macatawa Bank during the 3rd quarter worth about $1,019,000. Ronald Blue Trust Inc. acquired a new stake in Macatawa Bank in the 2nd quarter valued at about $36,000. SG Americas Securities LLC bought a new position in shares of Macatawa Bank in the second quarter worth about $99,000. Finally, American Century Companies Inc. lifted its position in shares of Macatawa Bank by 28.0% during the first quarter. American Century Companies Inc. now owns 130,374 shares of the financial services provider’s stock worth $1,174,000 after purchasing an additional 28,548 shares in the last quarter. Institutional investors and hedge funds own 40.29% of the company’s stock.

Macatawa Bank Stock Performance

Shares of Macatawa Bank stock opened at $10.77 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $10.46. Macatawa Bank Co. has a fifty-two week low of $8.38 and a fifty-two week high of $11.84. The firm has a market cap of $369.41 million, a P/E ratio of 10.66 and a beta of 0.66.

Macatawa Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Monday, February 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.97%. Macatawa Bank’s payout ratio is currently 31.68%.

Macatawa Bank Profile

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Macatawa Bank Corp. operates as a holding company, which engages in the provision of financial services. The company offers a range of commercial and personal banking services. It also includes checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans, internet and telephone banking, and debit cards.