New York State Common Retirement Fund lifted its stake in shares of Macatawa Bank Corporation (NASDAQ:MCBC) by 212.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,100 shares of the financial services provider’s stock after purchasing an additional 16,399 shares during the period. New York State Common Retirement Fund owned 0.07% of Macatawa Bank Corporation worth $230,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. First Quadrant L P CA bought a new position in Macatawa Bank Corporation in the 2nd quarter worth approximately $126,000. American International Group Inc. boosted its holdings in Macatawa Bank Corporation by 7.2% in the 1st quarter. American International Group Inc. now owns 16,303 shares of the financial services provider’s stock worth $161,000 after buying an additional 1,094 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Macatawa Bank Corporation by 14.0% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 20,515 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,519 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Macatawa Bank Corporation by 36.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,756 shares of the financial services provider’s stock worth $264,000 after buying an additional 7,101 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Macatawa Bank Corporation by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 28,967 shares of the financial services provider’s stock worth $276,000 after buying an additional 750 shares during the period. Institutional investors own 27.29% of the company’s stock.

Macatawa Bank Corporation (NASDAQ MCBC) opened at $9.98 on Thursday. The company has a market cap of $340.77, a P/E ratio of 18.94 and a beta of 1.14. 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.

Macatawa Bank Corporation (NASDAQ:MCBC) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The company had revenue of $17.44 million during the quarter. Macatawa Bank Corporation had a net margin of 24.64% and a return on equity of 10.84%.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, November 13th. Macatawa Bank Corporation’s dividend payout ratio (DPR) is presently 37.74%.

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

Macatawa Bank Corporation Company 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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