Macatawa Bank (NASDAQ:MCBC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Shares of Macatawa Bank (NASDAQ MCBC) traded down $0.14 during midday trading on Tuesday, reaching $9.79. 56,932 shares of the company traded hands, compared to its average volume of 46,787. Macatawa Bank has a fifty-two week low of $8.87 and a fifty-two week high of $10.67. The firm has a market capitalization of $337.38, a price-to-earnings ratio of 18.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Macatawa Bank (NASDAQ:MCBC) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Macatawa Bank had a net margin of 24.64% and a return on equity of 10.84%. The business had revenue of $17.44 million for the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in Macatawa Bank in the third quarter worth $103,000. Susquehanna International Group LLP acquired a new stake in Macatawa Bank in the third quarter worth $106,000. Parametric Portfolio Associates LLC acquired a new stake in Macatawa Bank in the second quarter worth $165,000. Metropolitan Life Insurance Co. NY raised its holdings in Macatawa Bank by 14.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,515 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 2,519 shares during the period. Finally, First Quadrant L P CA raised its holdings in Macatawa Bank by 58.3% in the third quarter. First Quadrant L P CA now owns 20,985 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 7,730 shares during the period. Institutional investors own 28.70% of the company’s stock.

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About Macatawa Bank

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.

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