ValuEngine Lowers Mackinac Financial (MFNC) to Hold

ValuEngine downgraded shares of Mackinac Financial (NASDAQ:MFNC) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Hovde Group began coverage on shares of Mackinac Financial in a report on Tuesday, April 3rd. They issued an outperform rating and a $19.00 target price for the company.

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Shares of NASDAQ:MFNC opened at $15.69 on Friday. Mackinac Financial has a one year low of $13.16 and a one year high of $16.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $102.19, a PE ratio of 12.97 and a beta of 0.48.

Mackinac Financial (NASDAQ:MFNC) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.33 EPS for the quarter. Mackinac Financial had a net margin of 11.32% and a return on equity of 9.31%. The business had revenue of $10.98 million during the quarter.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $0.48 annualized dividend and a yield of 3.06%.

In related news, Director Dennis Bittner sold 2,600 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.10, for a total transaction of $41,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.15% of the company’s stock.

An institutional investor recently raised its position in Mackinac Financial stock. Kennedy Capital Management Inc. increased its position in shares of Mackinac Financial Co. (NASDAQ:MFNC) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,653 shares of the financial services provider’s stock after purchasing an additional 6,689 shares during the period. Kennedy Capital Management Inc. owned approximately 2.35% of Mackinac Financial worth $2,348,000 as of its most recent SEC filing. 28.66% of the stock is owned by hedge funds and other institutional investors.

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Mackinac Financial Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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