Why should you buy stock in Macatawa Bank Corporation (MCBC)?

Macatawa Bank Corporation (NASDAQ: MCBC) is -33.51% lower on its value in year-to-date trading and has touched a low of $6.01 and a high of $11.42 in the current 52-week trading range. The MCBC stock was last observed hovering at around $7.82 in the last trading session, with the day’s loss setting it -0.42%.

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Currently trading at $7.40, the stock is -1.96% and 1.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.1 million and changing -5.37% at the moment leaves the stock -20.11% off its SMA200. MCBC registered -27.09% loss for a year compared to 6-month loss of -33.51%. The firm has a 50-day simple moving average (SMA 50) of $7.34 and a 200-day simple moving average (SMA200) of $8.66.

The stock witnessed a 2.92% gain in the last 1 month and extending the period to 3 months gives it a 12.80%, and is 4.37% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.68% over the week and 5.08% over the month.

Macatawa Bank Corporation (MCBC) has around 285 employees, a market worth around $251.30M and $74.20M in sales. Current P/E ratio is 8.20 and Fwd P/E is 14.51. Profit margin for the company is 41.40%. Distance from 52-week low is 23.13% and -35.20% from its 52-week high. The company has generated returns on investments over the last 12 months (23.70%).

Macatawa Bank Corporation (MCBC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Macatawa Bank Corporation (MCBC) is a “Hold”. 2 analysts offering their recommendations for the stock have an average rating of 3.00, where 2 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Macatawa Bank Corporation quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $20.13M over the same period.The EPS is expected to grow by 21.10% this year, but quarterly earnings will post 0.60% year-over-year.

Macatawa Bank Corporation (MCBC) Top Institutional Holders

142 institutions hold shares in Macatawa Bank Corporation (MCBC), with 8.13M shares held by insiders accounting for 23.84% while institutional investors hold 46.25% of the company’s shares. The shares outstanding are 34.11M, and float is at 25.98M with Short Float at 1.11%. Institutions hold 35.22% of the Float.

The top institutional shareholder in the company is Dimensional Fund Advisors LP with over 1.62 million shares valued at $11.51 million. The investor’s holdings represent 4.74% of the MCBC Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 1.51 million shares valued at $10.72 million to account for 4.42% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 1.32 million shares representing 3.88% and valued at over $9.43 million, while Vanguard Group, Inc. (The) holds 3.40% of the shares totaling 1.16 million with a market value of $8.26 million.

Macatawa Bank Corporation (MCBC) Insider Activity

A total of 1 insider transactions have happened at Macatawa Bank Corporation (MCBC) in the last six months, with sales accounting for 1 and purchases happening 0 times. The most recent transaction is an insider purchase by Herr Robert L, the company’s Director. SEC filings show that Herr Robert L bought 250 shares of the company’s common stock on Nov 12 at a price of $10.81 per share for a total of $2703.0. Following the purchase, the insider now owns 17474.0 shares.

Macatawa Bank Corporation (MCBC): Who are the competitors?

The company’s main competitors (and peers) include First Busey Corporation (BUSE) that is trading -31.96% down over the past 12 months. Mackinac Financial Corporation (MFNC) is -34.49% down on the 1-year trading charts. Short interest in the company’s stock has risen 37.19% from the last report on May 14, 2020 to stand at a total of 0.18 million short shares sold with a short interest ratio of 2.81.

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