Sapient Capital LLC Makes New $234,000 Investment in Macatawa Bank Co. (NASDAQ:MCBC)

Sapient Capital LLC purchased a new stake in shares of Macatawa Bank Co. (NASDAQ:MCBC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,703 shares of the financial services provider’s stock, valued at approximately $234,000. Sapient Capital LLC owned about 0.06% of Macatawa Bank at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Macatawa Bank by 26.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 335,408 shares of the financial services provider’s stock valued at $3,005,000 after buying an additional 69,609 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Macatawa Bank by 17.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 119,076 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 17,644 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Macatawa Bank by 307.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 117,559 shares of the financial services provider’s stock valued at $1,326,000 after purchasing an additional 88,741 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Macatawa Bank by 284.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,024 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 54,031 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Macatawa Bank during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 42.49% of the company’s stock.

Macatawa Bank Stock Performance

Shares of Macatawa Bank stock opened at $14.31 on Wednesday. Macatawa Bank Co. has a 12 month low of $8.31 and a 12 month high of $14.53. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $491.72 million, a PE ratio of 11.93 and a beta of 0.52. The stock’s fifty day simple moving average is $11.11 and its 200 day simple moving average is $10.57.

Macatawa Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, May 10th. Macatawa Bank’s dividend payout ratio (DPR) is presently 30.00%.

Analysts Set New Price Targets

MCBC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised Macatawa Bank from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $15.00 in a research note on Monday, April 29th. StockNews.com assumed coverage on shares of Macatawa Bank in a research report on Saturday. They issued a “sell” rating on the stock.

Macatawa Bank Company Profile

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that engages in the provision of 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.