Somewhat Positive News Coverage Somewhat Unlikely to Affect Macatawa Bank (MCBC) Share Price

News headlines about Macatawa Bank (NASDAQ:MCBC) have been trending somewhat positive this week, according to Accern. The research group identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Macatawa Bank earned a coverage optimism score of 0.01 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 45.750156557397 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Shares of Macatawa Bank (NASDAQ:MCBC) opened at $10.40 on Friday. The company has a market capitalization of $351.63 and a P/E ratio of 19.18. Macatawa Bank has a 12 month low of $8.87 and a 12 month high of $10.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Macatawa Bank (NASDAQ:MCBC) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.13 earnings per share for the quarter. The firm had revenue of $17.93 million for the quarter. Macatawa Bank had a return on equity of 11.06% and a net margin of 21.69%.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th will be given a dividend of $0.06 per share. This is a positive change from Macatawa Bank’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, February 12th. This represents a $0.24 annualized dividend and a dividend yield of 2.31%. Macatawa Bank’s payout ratio is 42.55%.

Several equities research analysts have commented on the company. BidaskClub cut Macatawa Bank from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Hovde Group set a $11.00 target price on Macatawa Bank and gave the company a “hold” rating in a research note on Monday.

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Macatawa Bank 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.

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