Mackinac Financial Co. (NASDAQ:MFNC) Director David Russ Steinhardt acquired 3,994 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $9.43 per share, with a total value of $37,663.42. Following the completion of the transaction, the director now owns 13,034 shares of the company’s stock, valued at $122,910.62. The transaction was disclosed in a filing with the SEC, which is available at this link.
David Russ Steinhardt also recently made the following trade(s):
- On Thursday, March 19th, David Russ Steinhardt acquired 10,000 shares of Mackinac Financial stock. The stock was acquired at an average cost of $10.00 per share, with a total value of $100,000.00.
NASDAQ:MFNC traded up $0.92 during mid-day trading on Thursday, hitting $10.35. 4,352 shares of the stock were exchanged, compared to its average volume of 35,559. The stock has a market capitalization of $101.96 million, a price-to-earnings ratio of 7.96 and a beta of 0.75. The firm’s 50-day simple moving average is $13.47 and its 200 day simple moving average is $15.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. Mackinac Financial Co. has a fifty-two week low of $6.52 and a fifty-two week high of $17.75.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Mackinac Financial by 7.4% during the 3rd quarter. State Street Corp now owns 128,502 shares of the financial services provider’s stock worth $2,005,000 after acquiring an additional 8,868 shares during the period. Millennium Management LLC bought a new position in Mackinac Financial during the 3rd quarter worth $200,000. Panagora Asset Management Inc. bought a new position in Mackinac Financial during the 4th quarter worth $231,000. Barclays PLC increased its stake in Mackinac Financial by 100.5% during the 4th quarter. Barclays PLC now owns 9,393 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 4,709 shares during the period. Finally, EJF Capital LLC increased its stake in Mackinac Financial by 1.6% during the 4th quarter. EJF Capital LLC now owns 533,211 shares of the financial services provider’s stock worth $9,310,000 after acquiring an additional 8,211 shares during the period. 51.51% of the stock is owned by institutional investors and hedge funds.
MFNC has been the subject of a number of recent analyst reports. ValuEngine raised Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st. TheStreet cut Mackinac Financial from a “b-” rating to a “c” rating in a report on Thursday, March 19th. Finally, Zacks Investment Research raised Mackinac Financial from a “sell” rating to a “hold” rating in a 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.
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