Mackinac Financial Co. (NASDAQ:MFNC) Director Dennis Bittner sold 2,600 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.10, for a total transaction of $41,860.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Mackinac Financial Co. (NASDAQ MFNC) opened at $16.25 on Thursday. Mackinac Financial Co. has a twelve month low of $13.16 and a twelve month high of $16.80. The stock has a market cap of $103.55, a price-to-earnings ratio of 18.47 and a beta of 0.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11.
Separately, ValuEngine raised shares of Mackinac Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. boosted its holdings in Mackinac Financial by 4.7% during the fourth quarter. Kennedy Capital Management Inc. now owns 147,653 shares of the financial services provider’s stock worth $2,348,000 after buying an additional 6,689 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in Mackinac Financial by 1.9% during the third quarter. Clarkston Capital Partners LLC now owns 191,419 shares of the financial services provider’s stock valued at $2,967,000 after purchasing an additional 3,654 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Mackinac Financial by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 327,394 shares of the financial services provider’s stock valued at $4,580,000 after purchasing an additional 9,516 shares in the last quarter. 28.75% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This story was published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2018/03/15/insider-selling-mackinac-financial-co-mfnc-director-sells-2600-shares-of-stock.html.
About Mackinac Financial
Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.
Receive News & Ratings for Mackinac Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mackinac Financial and related companies with MarketBeat.com's FREE daily email newsletter.