Shares of Mackinac Financial Co. (NASDAQ:MFNC) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 1 year consensus price target of $19.00 for the company and are anticipating that the company will post $0.29 EPS for the current quarter, according to Zacks. Zacks has also assigned Mackinac Financial an industry rank of 96 out of 255 based on the ratings given to related companies.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Mackinac Financial from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Tuesday, February 12th. ValuEngine upgraded Mackinac Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
NASDAQ:MFNC opened at $15.84 on Friday. Mackinac Financial has a 12-month low of $12.60 and a 12-month high of $17.58. The company has a market cap of $167.85 million, a P/E ratio of 12.98 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.38.
Mackinac Financial (NASDAQ:MFNC) last released its quarterly earnings data on Thursday, January 31st. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Mackinac Financial had a return on equity of 8.12% and a net margin of 14.03%. The business had revenue of $15.24 million during the quarter, compared to analyst estimates of $15.10 million. Equities analysts expect that Mackinac Financial will post 1.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Tuesday, April 9th. Mackinac Financial’s dividend payout ratio is presently 39.34%.
Several institutional investors and hedge funds have recently bought and sold shares of MFNC. Clover Partners L.P. raised its position in shares of Mackinac Financial by 1.6% during the fourth quarter. Clover Partners L.P. now owns 131,076 shares of the financial services provider’s stock worth $1,789,000 after purchasing an additional 2,062 shares during the period. Vanguard Group Inc raised its position in Mackinac Financial by 0.6% during the third quarter. Vanguard Group Inc now owns 385,028 shares of the financial services provider’s stock valued at $6,237,000 after buying an additional 2,353 shares during the period. Dimensional Fund Advisors LP raised its position in Mackinac Financial by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 430,760 shares of the financial services provider’s stock valued at $5,879,000 after buying an additional 5,693 shares during the period. Renaissance Technologies LLC raised its position in Mackinac Financial by 15.7% during the third quarter. Renaissance Technologies LLC now owns 48,700 shares of the financial services provider’s stock valued at $789,000 after buying an additional 6,600 shares during the period. Finally, Tibra Equities Europe Ltd acquired a new position in Mackinac Financial during the first quarter valued at $321,000. 47.05% of the stock is currently owned by institutional investors.
About Mackinac Financial
Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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