Mackinac Financial (NASDAQ:MFNC) Issues Quarterly Earnings Results

Mackinac Financial (NASDAQ:MFNC) released its earnings results on Thursday. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.09, MarketWatch Earnings reports. Mackinac Financial had a return on equity of 8.50% and a net margin of 18.80%. The company had revenue of $16.83 million for the quarter, compared to analysts’ expectations of $15.20 million.

MFNC opened at $9.10 on Friday. The stock has a market cap of $95.86 million, a P/E ratio of 7.11 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $9.66 and its 200 day simple moving average is $11.50. Mackinac Financial has a 1-year low of $6.52 and a 1-year high of $17.75.

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date was Thursday, July 2nd. Mackinac Financial’s dividend payout ratio is currently 43.08%.

A number of equities research analysts recently weighed in on MFNC shares. Zacks Investment Research cut Mackinac Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. ValuEngine cut Mackinac Financial from a “hold” rating to a “sell” rating in a report on Wednesday, April 8th.

Mackinac Financial Company Profile

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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Earnings History for Mackinac Financial (NASDAQ:MFNC)

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