Mackinac Financial Co. (NASDAQ:MFNC)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.60 and traded as high as $15.30. Mackinac Financial shares last traded at $15.30, with a volume of 225 shares traded.
Several equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Mackinac Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Mackinac Financial from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, August 8th.
The firm has a market capitalization of $165.83 million, a PE ratio of 12.66 and a beta of 0.66. The company’s 50-day moving average price is $14.60 and its 200-day moving average price is $15.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.01.
Mackinac Financial (NASDAQ:MFNC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Mackinac Financial had a net margin of 19.24% and a return on equity of 9.08%. The firm had revenue of $14.91 million during the quarter, compared to analysts’ expectations of $15.00 million. As a group, analysts anticipate that Mackinac Financial Co. will post 1.35 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Clarkston Capital Partners LLC lifted its position in Mackinac Financial by 1.0% in the second quarter. Clarkston Capital Partners LLC now owns 210,008 shares of the financial services provider’s stock valued at $3,318,000 after acquiring an additional 2,019 shares during the last quarter. Naples Global Advisors LLC lifted its position in Mackinac Financial by 10.5% in the second quarter. Naples Global Advisors LLC now owns 21,015 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 2,000 shares during the last quarter. Strs Ohio purchased a new stake in Mackinac Financial in the second quarter valued at $39,000. Dimensional Fund Advisors LP lifted its position in Mackinac Financial by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 430,760 shares of the financial services provider’s stock valued at $5,879,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Walthausen & Co. LLC purchased a new stake in Mackinac Financial in the first quarter valued at $470,000. 49.43% of the stock is owned by hedge funds and other institutional investors.
Mackinac Financial Company Profile (NASDAQ:MFNC)
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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