Banc Funds Co. LLC held its position in Mackinac Financial Corporation (NASDAQ:MFNC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,307 shares of the financial services provider’s stock at the close of the second quarter. Banc Funds Co. LLC owned 3.60% of Mackinac Financial Corporation worth $3,166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MFNC. LSV Asset Management increased its position in Mackinac Financial Corporation by 66.7% during the 2nd quarter. LSV Asset Management now owns 7,500 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 3,000 shares during the period. Alpine Woods Capital Investors LLC increased its position in Mackinac Financial Corporation by 7.7% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 1,000 shares during the period. Naples Global Advisors LLC increased its position in Mackinac Financial Corporation by 58.2% during the 2nd quarter. Naples Global Advisors LLC now owns 16,450 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 6,050 shares during the period. Context BH Capital Management LP increased its position in Mackinac Financial Corporation by 1.1% during the 2nd quarter. Context BH Capital Management LP now owns 26,448 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 300 shares during the period. Finally, Kennedy Capital Management Inc. increased its position in Mackinac Financial Corporation by 247.5% during the 2nd quarter. Kennedy Capital Management Inc. now owns 104,833 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 74,668 shares during the period. 27.68% of the stock is currently owned by institutional investors and hedge funds.

Mackinac Financial Corporation (NASDAQ:MFNC) opened at 14.60 on Thursday. Mackinac Financial Corporation has a 52-week low of $11.00 and a 52-week high of $15.16. The stock has a market cap of $91.89 million, a P/E ratio of 13.30 and a beta of 0.61. The firm’s 50-day moving average is $14.45 and its 200-day moving average is $13.96.

Mackinac Financial Corporation (NASDAQ:MFNC) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter. Mackinac Financial Corporation had a net margin of 14.88% and a return on equity of 8.79%. The firm had revenue of $10.11 million for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 22nd will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. Mackinac Financial Corporation’s payout ratio is 44.04%.

MFNC has been the topic of a number of research reports. ValuEngine raised shares of Mackinac Financial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet raised shares of Mackinac Financial Corporation from a “c+” rating to a “b-” rating in a research report on Friday, July 28th.

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Mackinac Financial Corporation Company Profile

Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.

Institutional Ownership by Quarter for Mackinac Financial Corporation (NASDAQ:MFNC)

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