Shares of Mackinac Financial Co. (NASDAQ:MFNC) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price target of $19.00 for the company and are expecting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also given Mackinac Financial an industry rank of 181 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered Mackinac Financial from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th.
Mackinac Financial stock traded up $0.13 during mid-day trading on Thursday, reaching $15.90. The stock had a trading volume of 1,803 shares, compared to its average volume of 15,591. Mackinac Financial has a fifty-two week low of $12.60 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day simple moving average of $15.77. The stock has a market cap of $171.85 million, a price-to-earnings ratio of 13.03 and a beta of 0.67.
Mackinac Financial (NASDAQ:MFNC) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The business had revenue of $14.35 million for the quarter, compared to the consensus estimate of $14.40 million. Mackinac Financial had a return on equity of 8.08% and a net margin of 15.40%. As a group, equities research analysts expect that Mackinac Financial will post 1.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.48 annualized dividend and a dividend yield of 3.02%. Mackinac Financial’s payout ratio is presently 39.34%.
Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Mackinac Financial by 1.3% in 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. Clarkston Capital Partners LLC raised its stake in shares of Mackinac Financial by 2.6% in the first quarter. Clarkston Capital Partners LLC now owns 207,989 shares of the financial services provider’s stock valued at $3,274,000 after buying an additional 5,172 shares during the period. Clover Partners L.P. raised its stake in shares of Mackinac Financial by 1.6% in the fourth quarter. Clover Partners L.P. now owns 131,076 shares of the financial services provider’s stock valued at $1,789,000 after buying an additional 2,062 shares during the period. Rehmann Capital Advisory Group bought a new stake in shares of Mackinac Financial in the fourth quarter valued at $792,000. Finally, Shoals Capital Management LP bought a new stake in shares of Mackinac Financial in the fourth quarter valued at $546,000. Hedge funds and other institutional investors own 46.69% of the company’s stock.
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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