Stifel Financial Corp increased its stake in shares of Macatawa Bank Co. (NASDAQ:MCBC) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 74,070 shares of the financial services provider’s stock after buying an additional 3,424 shares during the quarter. Stifel Financial Corp’s holdings in Macatawa Bank were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MCBC. Dimensional Fund Advisors LP raised its position in shares of Macatawa Bank by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,564,351 shares of the financial services provider’s stock worth $15,049,000 after acquiring an additional 26,220 shares during the period. BlackRock Inc. raised its position in shares of Macatawa Bank by 0.9% in the fourth quarter. BlackRock Inc. now owns 1,447,300 shares of the financial services provider’s stock worth $13,923,000 after acquiring an additional 13,437 shares during the period. Vanguard Group Inc raised its position in shares of Macatawa Bank by 3.4% in the third quarter. Vanguard Group Inc now owns 1,120,677 shares of the financial services provider’s stock worth $13,123,000 after acquiring an additional 37,253 shares during the period. Vanguard Group Inc. raised its position in shares of Macatawa Bank by 3.4% in the third quarter. Vanguard Group Inc. now owns 1,120,677 shares of the financial services provider’s stock worth $13,123,000 after acquiring an additional 37,253 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Macatawa Bank by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 205,167 shares of the financial services provider’s stock worth $1,973,000 after acquiring an additional 2,802 shares during the period. 33.21% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on MCBC shares. BidaskClub downgraded shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. ValuEngine upgraded shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research report on Saturday, December 15th. Finally, Zacks Investment Research upgraded shares of Macatawa Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, January 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. Macatawa Bank currently has a consensus rating of “Hold” and a consensus target price of $19.00.

MCBC stock opened at $10.45 on Wednesday. The stock has a market cap of $355.61 million, a PE ratio of 13.40, a P/E/G ratio of 1.62 and a beta of 0.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.93 and a quick ratio of 0.93. Macatawa Bank Co. has a 52 week low of $8.81 and a 52 week high of $12.92.

Macatawa Bank (NASDAQ:MCBC) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $20.03 million during the quarter, compared to analysts’ expectations of $19.70 million. Macatawa Bank had a net margin of 30.48% and a return on equity of 14.46%. As a group, equities analysts anticipate that Macatawa Bank Co. will post 0.81 EPS for the current fiscal year.

In other news, VP Jill A. Walcott sold 2,818 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $10.09, for a total transaction of $28,433.62. Following the completion of the sale, the vice president now owns 81,700 shares of the company’s stock, valued at $824,353. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

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Macatawa Bank Profile

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides 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.

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

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