Voisard Asset Management Group Inc. Purchases Shares of 9,967 Macatawa Bank Co. (NASDAQ:MCBC)

Voisard Asset Management Group Inc. acquired a new position in Macatawa Bank Co. (NASDAQ:MCBCFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,967 shares of the financial services provider’s stock, valued at approximately $112,000.

A number of other hedge funds have also recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC purchased a new position in Macatawa Bank in the 3rd quarter worth $206,000. Brandywine Global Investment Management LLC purchased a new position in shares of Macatawa Bank in the third quarter worth about $140,000. Connor Clark & Lunn Investment Management Ltd. lifted 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 acquiring an additional 54,031 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Macatawa Bank during the 3rd quarter valued at about $111,000. Finally, SG Americas Securities LLC grew its position in Macatawa Bank by 25.9% during the 4th quarter. SG Americas Securities LLC now owns 14,535 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,993 shares during the last quarter. 42.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MCBC shares. Keefe, Bruyette & Woods raised shares of Macatawa Bank from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $12.00 to $15.00 in a research note on Monday, April 29th. StockNews.com started coverage on Macatawa Bank in a research report on Thursday. They set a “sell” rating for the company.

Get Our Latest Stock Analysis on Macatawa Bank

Macatawa Bank Trading Down 0.7 %

Macatawa Bank stock traded down $0.09 during mid-day trading on Friday, reaching $13.47. 65,498 shares of the company traded hands, compared to its average volume of 118,315. The firm’s 50 day moving average price is $13.56 and its 200 day moving average price is $11.47. Macatawa Bank Co. has a 52-week low of $8.31 and a 52-week high of $14.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $462.83 million, a price-to-earnings ratio of 11.23 and a beta of 0.52.

Macatawa Bank (NASDAQ:MCBCGet Free Report) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Macatawa Bank had a net margin of 30.56% and a return on equity of 14.73%. The firm had revenue of $25.39 million during the quarter, compared to analysts’ expectations of $26.10 million. On average, analysts anticipate that Macatawa Bank Co. will post 1.19 earnings per share for the current fiscal year.

Macatawa Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, May 10th. Macatawa Bank’s dividend payout ratio is currently 30.00%.

About Macatawa Bank

(Free Report)

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.

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Institutional Ownership by Quarter for Macatawa Bank (NASDAQ:MCBC)

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