Macatawa Bank Co. (NASDAQ:MCBC) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 269,000 shares, an increase of 7.3% from the July 31st total of 250,700 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 38,900 shares, the short-interest ratio is currently 6.9 days.

MCBC traded up $0.11 during trading on Friday, hitting $10.79. 56,940 shares of the company’s stock traded hands, compared to its average volume of 34,010. The company’s 50 day simple moving average is $10.05 and its two-hundred day simple moving average is $10.26. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.49. Macatawa Bank has a 12-month low of $8.81 and a 12-month high of $12.35. The stock has a market capitalization of $363.81 million, a price-to-earnings ratio of 12.28 and a beta of 0.50.

Macatawa Bank (NASDAQ:MCBC) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Macatawa Bank had a return on equity of 15.18% and a net margin of 31.79%. The business had revenue of $21.05 million for the quarter, compared to the consensus estimate of $20.50 million. On average, equities analysts expect that Macatawa Bank will post 0.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, August 12th. This represents a $0.28 annualized dividend and a yield of 2.59%. Macatawa Bank’s dividend payout ratio is 35.90%.

MCBC has been the subject of a number of analyst reports. BidaskClub lowered Macatawa Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 7th. Zacks Investment Research downgraded Macatawa Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 2nd. Finally, ValuEngine upgraded Macatawa Bank from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

A number of institutional investors and hedge funds have recently modified their holdings of MCBC. Dimensional Fund Advisors LP boosted its stake in Macatawa Bank by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,564,351 shares of the financial services provider’s stock valued at $15,049,000 after purchasing an additional 26,220 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Macatawa Bank by 617.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,446 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 4,687 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Macatawa Bank during the 1st quarter valued at $134,000. Acadian Asset Management LLC boosted its stake in Macatawa Bank by 7.3% during the 1st quarter. Acadian Asset Management LLC now owns 174,472 shares of the financial services provider’s stock valued at $1,735,000 after purchasing an additional 11,883 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Macatawa Bank by 719.3% during the 2nd quarter. Bank of Montreal Can now owns 2,425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 2,129 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

Macatawa Bank Company Profile

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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