Macatawa Bank (NASDAQ:MCBC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Macatawa Bank (NASDAQ:MCBC) in a research report report published on Wednesday. The brokerage issued a sell rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised shares of Macatawa Bank from a market perform rating to an outperform rating and lifted their price target for the stock from $12.00 to $15.00 in a research note on Monday, April 29th.

Macatawa Bank Stock Performance

Shares of MCBC opened at $14.82 on Wednesday. The firm’s 50 day simple moving average is $14.37 and its 200 day simple moving average is $12.39. The company has a market capitalization of $509.22 million, a P/E ratio of 12.35 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.74 and a quick ratio of 0.74. Macatawa Bank has a 1-year low of $8.31 and a 1-year high of $15.16.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MCBC. Voisard Asset Management Group Inc. bought a new position in shares of Macatawa Bank in the fourth quarter worth approximately $112,000. Empowered Funds LLC grew its holdings in shares of Macatawa Bank by 6.7% in the first quarter. Empowered Funds LLC now owns 11,178 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 700 shares during the last quarter. Drive Wealth Management LLC bought a new position in shares of Macatawa Bank in the fourth quarter worth approximately $133,000. Panagora Asset Management Inc. bought a new position in shares of Macatawa Bank in the fourth quarter worth approximately $135,000. Finally, SG Americas Securities LLC grew its holdings in shares of Macatawa Bank by 25.9% in the fourth quarter. SG Americas Securities LLC now owns 14,535 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 2,993 shares during the last quarter. 42.49% of the stock is owned by hedge funds and other institutional investors.

Macatawa Bank Company Profile

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.