Goldman Sachs Group Inc. grew its stake in Macatawa Bank Corporation (NASDAQ:MCBC) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,354 shares of the financial services provider’s stock after purchasing an additional 598 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.08% of Macatawa Bank Corporation worth $261,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Macatawa Bank Corporation by 9.4% in the first quarter. Geode Capital Management LLC now owns 188,366 shares of the financial services provider’s stock valued at $1,861,000 after purchasing an additional 16,223 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Macatawa Bank Corporation by 3.4% in the first quarter. Vanguard Group Inc. now owns 969,439 shares of the financial services provider’s stock valued at $9,578,000 after purchasing an additional 32,005 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Macatawa Bank Corporation by 244.2% in the second quarter. First Trust Advisors LP now owns 74,030 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 52,520 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Macatawa Bank Corporation by 3.4% in the first quarter. Morgan Stanley now owns 179,541 shares of the financial services provider’s stock valued at $1,774,000 after purchasing an additional 5,916 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Macatawa Bank Corporation by 5.8% in the second quarter. Teachers Advisors LLC now owns 46,873 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 2,560 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

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Macatawa Bank Corporation (MCBC) opened at $9.91 on Friday. Macatawa Bank Corporation has a fifty-two week low of $8.87 and a fifty-two week high of $10.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $336.36, a P/E ratio of 18.70 and a beta of 1.14.

Macatawa Bank Corporation (NASDAQ:MCBC) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.14. Macatawa Bank Corporation had a return on equity of 10.84% and a net margin of 24.64%. The company had revenue of $17.44 million for the quarter.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.02%. Macatawa Bank Corporation’s dividend payout ratio is presently 37.74%.

Separately, BidaskClub upgraded Macatawa Bank Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Macatawa Bank Corporation Profile

Macatawa Bank Corporation is a bank holding company. The Company, through its subsidiary, Macatawa Bank (the Bank), offers a range of commercial and personal banking services, including checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans.

Institutional Ownership by Quarter for Macatawa Bank Corporation (NASDAQ:MCBC)

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