Mackinac Financial Co. (NASDAQ:MFNC) Director David Russ Steinhardt purchased 10,000 shares of Mackinac Financial stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $10.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at $120,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

David Russ Steinhardt also recently made the following trade(s):

  • On Tuesday, March 24th, David Russ Steinhardt purchased 3,994 shares of Mackinac Financial stock. The shares were bought at an average price of $9.43 per share, with a total value of $37,663.42.

MFNC opened at $9.43 on Thursday. Mackinac Financial Co. has a twelve month low of $6.52 and a twelve month high of $17.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $13.47 and a 200 day moving average price of $15.29. The company has a market cap of $101.96 million, a PE ratio of 7.24 and a beta of 0.75.

Mackinac Financial (NASDAQ:MFNC) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). Mackinac Financial had a return on equity of 8.82% and a net margin of 19.69%. The company had revenue of $15.20 million for the quarter, compared to analyst estimates of $15.10 million. As a group, sell-side analysts expect that Mackinac Financial Co. will post 1.2 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MFNC. Kennedy Capital Management Inc. grew its stake in Mackinac Financial by 112.8% during the 4th quarter. Kennedy Capital Management Inc. now owns 387,993 shares of the financial services provider’s stock valued at $6,774,000 after acquiring an additional 205,695 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Mackinac Financial by 169.9% during the 4th quarter. Bank of New York Mellon Corp now owns 70,058 shares of the financial services provider’s stock valued at $1,223,000 after acquiring an additional 44,105 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new stake in Mackinac Financial during the 4th quarter valued at about $766,000. Walthausen & Co. LLC grew its stake in Mackinac Financial by 55.5% during the 4th quarter. Walthausen & Co. LLC now owns 88,456 shares of the financial services provider’s stock valued at $1,544,000 after acquiring an additional 31,556 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new stake in Mackinac Financial during the 4th quarter valued at about $283,000. 51.51% of the stock is owned by institutional investors.

Several research firms recently weighed in on MFNC. TheStreet downgraded shares of Mackinac Financial from a “b-” rating to a “c” rating in a research report on Thursday, March 19th. ValuEngine upgraded shares of Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Zacks Investment Research upgraded shares of Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Friday, February 21st.

About Mackinac Financial

Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

Read More: What are popular range trading strategies?

Receive News & Ratings for Mackinac Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mackinac Financial and related companies with MarketBeat.com's FREE daily email newsletter.