Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Macatawa Bank (MCBC) Stock Price
News headlines about Macatawa Bank (NASDAQ:MCBC) have trended somewhat positive recently, according to Accern Sentiment. Accern identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Macatawa Bank earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 46.2652541147777 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
NASDAQ:MCBC traded down $0.01 on Friday, hitting $12.42. The stock had a trading volume of 115 shares, compared to its average volume of 22,563. The firm has a market cap of $413.95 million, a P/E ratio of 22.58, a PEG ratio of 1.95 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 0.92. Macatawa Bank has a 52 week low of $9.25 and a 52 week high of $12.92.
Macatawa Bank (NASDAQ:MCBC) last announced its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $19.12 million for the quarter, compared to analyst estimates of $19.30 million. Macatawa Bank had a return on equity of 12.57% and a net margin of 24.45%. equities analysts forecast that Macatawa Bank will post 0.78 earnings per share for the current fiscal year.
Several equities research analysts recently commented on MCBC shares. BidaskClub upgraded Macatawa Bank from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 21st. Zacks Investment Research upgraded Macatawa Bank from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday. ValuEngine lowered Macatawa Bank from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. DA Davidson initiated coverage on Macatawa Bank in a research report on Friday, June 29th. They set a “neutral” rating and a $13.00 target price on the stock. Finally, Hovde Group reiterated a “hold” rating and issued a $13.00 price target on shares of Macatawa Bank in a report on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.33.
About Macatawa Bank
Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits.
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