Tibra Equities Europe Ltd bought a new stake in shares of Mackinac Financial Co. (NASDAQ:MFNC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,366 shares of the financial services provider’s stock, valued at approximately $321,000.

Other large investors have also bought and sold shares of the company. Shoals Capital Management LP acquired a new stake in shares of Mackinac Financial during the 4th quarter valued at about $546,000. Renaissance Technologies LLC grew its position in shares of Mackinac Financial by 15.7% during the 3rd quarter. Renaissance Technologies LLC now owns 48,700 shares of the financial services provider’s stock valued at $789,000 after acquiring an additional 6,600 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Mackinac Financial during the 4th quarter valued at about $792,000. Southside Capital LLC acquired a new stake in shares of Mackinac Financial during the 4th quarter valued at about $1,024,000. Finally, Clover Partners L.P. grew its position in shares of Mackinac Financial by 1.6% during the 4th quarter. Clover Partners L.P. now owns 131,076 shares of the financial services provider’s stock valued at $1,789,000 after acquiring an additional 2,062 shares during the period. Hedge funds and other institutional investors own 46.86% of the company’s stock.

A number of equities research analysts have recently commented on MFNC shares. ValuEngine upgraded Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Mackinac Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, February 5th.

Shares of Mackinac Financial stock opened at $15.76 on Wednesday. The company has a market cap of $169.96 million, a PE ratio of 12.92 and a beta of 0.71. Mackinac Financial Co. has a 1-year low of $12.60 and a 1-year high of $17.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.01 and a current ratio of 1.01.

Mackinac Financial (NASDAQ:MFNC) last issued its earnings results on Thursday, January 31st. The financial services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $15.24 million for the quarter, compared to analysts’ expectations of $15.10 million. Mackinac Financial had a return on equity of 8.12% and a net margin of 14.03%. As a group, analysts expect that Mackinac Financial Co. will post 1.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, April 9th. Mackinac Financial’s payout ratio is presently 39.34%.

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Mackinac Financial 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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Institutional Ownership by Quarter for Mackinac Financial (NASDAQ:MFNC)

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