Raffles Associates LP continued to hold its position in shares of Mackinac Financial Corporation (NASDAQ:MFNC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,583 shares of the financial services provider’s stock at the end of the second quarter. Mackinac Financial Corporation accounts for approximately 1.1% of Raffles Associates LP’s holdings, making the stock its 26th largest holding. Raffles Associates LP owned about 1.38% of Mackinac Financial Corporation worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Context BH Capital Management LP increased its holdings in shares of 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 in the last quarter. Alpine Woods Capital Investors LLC increased its holdings in shares of 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 in the last quarter. LSV Asset Management increased its holdings in shares of 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 in the last quarter. Naples Global Advisors LLC increased its holdings in shares of 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Mackinac Financial Corporation by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 327,394 shares of the financial services provider’s stock valued at $4,580,000 after purchasing an additional 9,516 shares in the last quarter. 27.68% of the stock is owned by hedge funds and other institutional investors.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 22nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 21st. Mackinac Financial Corporation’s payout ratio is 44.04%.

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Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Mackinac Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. TheStreet raised shares of Mackinac Financial Corporation from a “c+” rating to a “b-” rating in a report on Friday, July 28th.

About Mackinac Financial Corporation

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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