Mackinac Financial Co. (NASDAQ:MFNC) Director David Russ Steinhardt bought 10,000 shares of Mackinac Financial stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at $120,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

David Russ Steinhardt also recently made the following trade(s):

  • On Tuesday, March 24th, David Russ Steinhardt bought 3,994 shares of Mackinac Financial stock. The shares were acquired at an average price of $9.43 per share, for a total transaction of $37,663.42.

Mackinac Financial stock opened at $9.43 on Thursday. The firm has a market cap of $101.96 million, a PE ratio of 7.24 and a beta of 0.75. Mackinac Financial Co. has a 52-week low of $6.52 and a 52-week high of $17.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $13.47 and its two-hundred day moving average is $15.29.

Mackinac Financial (NASDAQ:MFNC) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Mackinac Financial had a net margin of 19.69% and a return on equity of 8.82%. The firm had revenue of $15.20 million during the quarter, compared to analyst estimates of $15.10 million. On average, equities research analysts anticipate that Mackinac Financial Co. will post 1.2 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kennedy Capital Management Inc. raised its holdings in shares of Mackinac Financial by 112.8% in the 4th quarter. Kennedy Capital Management Inc. now owns 387,993 shares of the financial services provider’s stock valued at $6,774,000 after purchasing an additional 205,695 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in shares of Mackinac Financial in the 4th quarter valued at $283,000. Stephenson National Bank & Trust acquired a new stake in shares of Mackinac Financial in the 4th quarter valued at $238,000. Geode Capital Management LLC raised its holdings in shares of Mackinac Financial by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 86,093 shares of the financial services provider’s stock valued at $1,503,000 after purchasing an additional 1,667 shares in the last quarter. Finally, ERTS Wealth Advisors LLC acquired a new stake in shares of Mackinac Financial in the 4th quarter valued at $766,000. Institutional investors and hedge funds own 51.51% of the company’s stock.

A number of equities research analysts have issued reports on MFNC shares. TheStreet lowered shares of Mackinac Financial from a “b-” rating to a “c” rating in a report on Thursday, March 19th. ValuEngine upgraded shares of Mackinac Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Zacks Investment Research upgraded shares of Mackinac Financial from a “sell” rating to a “hold” rating in a report on Friday, February 21st.

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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