Media headlines about Macatawa Bank Corporation (NASDAQ:MCBC) have been trending somewhat positive on Monday, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Macatawa Bank Corporation earned a daily sentiment score of 0.12 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 45.8560466467512 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Macatawa Bank Corporation (MCBC) traded up 0.31% during trading on Monday, reaching $9.67. The company’s stock had a trading volume of 42,544 shares. The company has a market capitalization of $328.18 million, a P/E ratio of 18.28 and a beta of 1.13. The firm’s 50-day moving average price is $9.49 and its 200 day moving average price is $9.59. Macatawa Bank Corporation has a 12-month low of $7.81 and a 12-month high of $10.67.

Macatawa Bank Corporation (NASDAQ:MCBC) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Macatawa Bank Corporation had a return on equity of 10.86% and a net margin of 24.52%. The business had revenue of $17.18 million during the quarter. On average, analysts predict that Macatawa Bank Corporation will post $0.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.07%. This is a boost from Macatawa Bank Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Friday, August 11th. Macatawa Bank Corporation’s dividend payout ratio is currently 37.74%.

A number of equities analysts have issued reports on MCBC shares. BidaskClub upgraded Macatawa Bank Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $10.00 price objective on shares of Macatawa Bank Corporation in a report on Friday, July 14th.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/09/18/somewhat-favorable-press-coverage-somewhat-unlikely-to-affect-macatawa-bank-corporation-mcbc-share-price.html.

In other news, insider Matthew D. Hoeksema bought 5,031 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $9.50 per share, for a total transaction of $47,794.50. Following the acquisition, the insider now owns 25,601 shares of the company’s stock, valued at $243,209.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Macatawa Bank Corporation Company Profile

Macatawa Bank Corporation is a bank holding company. The Company, through its subsidiary, Macatawa Bank (the Bank), offers a range of commercial and personal banking services, including checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans.

Insider Buying and Selling by Quarter for Macatawa Bank Corporation (NASDAQ:MCBC)

Receive News & Stock Ratings for Macatawa Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macatawa Bank Corporation and related stocks with our FREE daily email newsletter.