Macatawa Bank Co. (NASDAQ:MCBC) Director Acquires $16,379.65 in Stock

Macatawa Bank Co. (NASDAQ:MCBCGet Rating) Director Thomas P. Rosenbach acquired 1,855 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $8.83 per share, for a total transaction of $16,379.65. Following the acquisition, the director now directly owns 62,122 shares in the company, valued at approximately $548,537.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ MCBC opened at $8.97 on Friday. The stock’s 50-day moving average is $8.99 and its two-hundred day moving average is $8.97. The company has a market cap of $307.22 million, a price-to-earnings ratio of 11.21 and a beta of 0.71. Macatawa Bank Co. has a 1-year low of $7.37 and a 1-year high of $9.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Macatawa Bank (NASDAQ:MCBCGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Macatawa Bank had a return on equity of 10.89% and a net margin of 34.64%.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, May 11th. This represents a $0.32 annualized dividend and a dividend yield of 3.57%. Macatawa Bank’s dividend payout ratio is currently 40.00%.

Separately, StockNews.com began coverage on Macatawa Bank in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Macatawa Bank by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,481,442 shares of the financial services provider’s stock valued at $13,348,000 after purchasing an additional 19,674 shares during the period. Vanguard Group Inc. boosted its position in shares of Macatawa Bank by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 1,428,079 shares of the financial services provider’s stock valued at $12,867,000 after purchasing an additional 133,747 shares during the period. Renaissance Technologies LLC boosted its position in shares of Macatawa Bank by 2.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,191,517 shares of the financial services provider’s stock valued at $9,568,000 after purchasing an additional 24,000 shares during the period. rhino investment partners Inc boosted its position in shares of Macatawa Bank by 37.6% in the 1st quarter. rhino investment partners Inc now owns 852,524 shares of the financial services provider’s stock valued at $7,681,000 after purchasing an additional 233,035 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Macatawa Bank by 7.2% in the 4th quarter. Parametric Portfolio Associates LLC now owns 442,584 shares of the financial services provider’s stock valued at $3,904,000 after purchasing an additional 29,654 shares during the period. 38.49% of the stock is owned by institutional investors and hedge funds.

Macatawa Bank Company Profile (Get Rating)

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides 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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