Mackinac Financial Co. (NASDAQ:MFNC) – Equities researchers at Piper Jaffray Companies lowered their Q1 2019 earnings per share (EPS) estimates for shares of Mackinac Financial in a research note issued on Thursday, November 1st. Piper Jaffray Companies analyst N. Race now anticipates that the financial services provider will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.30. Piper Jaffray Companies currently has a “Buy” rating and a $19.00 target price on the stock. Piper Jaffray Companies also issued estimates for Mackinac Financial’s Q2 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $1.29 EPS, Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.35 EPS, Q3 2020 earnings at $0.37 EPS and FY2020 earnings at $1.43 EPS.
Several other equities research analysts have also recently weighed in on MFNC. Zacks Investment Research cut shares of Mackinac Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet cut shares of Mackinac Financial from a “b” rating to a “c+” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.00.
NASDAQ MFNC opened at $15.50 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. Mackinac Financial has a twelve month low of $14.50 and a twelve month high of $17.58. The stock has a market capitalization of $166.58 million, a P/E ratio of 12.92 and a beta of 0.56.
Mackinac Financial (NASDAQ:MFNC) last released its earnings results on Wednesday, October 31st. The financial services provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Mackinac Financial had a net margin of 9.09% and a return on equity of 8.77%. The business had revenue of $14.51 million during the quarter, compared to analysts’ expectations of $14.30 million.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MFNC. EJF Capital LLC bought a new stake in shares of Mackinac Financial in the second quarter valued at about $8,090,000. M3F Inc. bought a new position in Mackinac Financial during the second quarter worth about $3,556,000. Gendell Jeffrey L lifted its stake in Mackinac Financial by 70.3% during the second quarter. Gendell Jeffrey L now owns 263,772 shares of the financial services provider’s stock worth $4,373,000 after purchasing an additional 108,860 shares during the period. Dimensional Fund Advisors LP lifted its stake in Mackinac Financial by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 416,291 shares of the financial services provider’s stock worth $6,902,000 after purchasing an additional 55,832 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Mackinac Financial during the second quarter worth about $698,000. Institutional investors and hedge funds own 43.68% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, October 8th. Investors of record on Thursday, September 27th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, September 26th. Mackinac Financial’s payout ratio is presently 40.00%.
About Mackinac Financial
Mackinac Financial Corporation operates as the bank holding company for mBank that provides commercial and retail banking products and services in the United States. The company accepts interest bearing and non-interest bearing accounts, such as commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, certificates of deposit, time deposits, and interest bearing transaction accounts.
See Also: Trading Strategy Methods for Individual Investors
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.