Macatawa Bank (NASDAQ:MCBC) Releases Earnings Results, Beats Estimates By $0.03 EPS
Macatawa Bank (NASDAQ:MCBC) released its quarterly earnings results on Thursday. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03, Fidelity Earnings reports. The firm had revenue of $20.76 million for the quarter. Macatawa Bank had a return on equity of 15.31% and a net margin of 32.46%.
Shares of MCBC stock traded up $0.08 on Friday, reaching $10.76. The stock had a trading volume of 181 shares, compared to its average volume of 47,518. The stock has a market cap of $365.14 million, a P/E ratio of 11.88 and a beta of 0.49. Macatawa Bank has a 1 year low of $9.32 and a 1 year high of $11.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day simple moving average of $11.00 and a 200 day simple moving average of $10.48.
A number of research firms have recently issued reports on MCBC. BidaskClub downgraded Macatawa Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 11th. Zacks Investment Research upgraded Macatawa Bank from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research note on Wednesday, October 30th.
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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