Analysts Expect Mackinac Financial Co. (MFNC) to Post $0.29 Earnings Per Share

Shares of Mackinac Financial Co. (NASDAQ:MFNC) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus target price of $19.00 for the company and are predicting that the company will post $0.29 earnings per share for the current quarter, according to Zacks. Zacks has also given Mackinac Financial an industry rank of 54 out of 255 based on the ratings given to its competitors.

Several research analysts have recently 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 on the stock 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.

Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Mackinac Financial by 1,095.0% in the 2nd quarter. BlackRock Inc. now owns 19,395 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 17,772 shares during the last quarter. Shoals Capital Management LP bought a new position in shares of Mackinac Financial in the 4th quarter worth $546,000. Renaissance Technologies LLC boosted its position in shares of Mackinac Financial by 15.7% in the 3rd quarter. Renaissance Technologies LLC now owns 48,700 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 6,600 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Mackinac Financial in the 4th quarter worth $792,000. Finally, Southside Capital LLC bought a new position in shares of Mackinac Financial in the 4th quarter worth $1,024,000. Institutional investors and hedge funds own 46.95% of the company’s stock.

NASDAQ MFNC opened at $15.89 on Friday. The firm has a market capitalization of $167.12 million, a PE ratio of 13.02 and a beta of 0.71. Mackinac Financial has a 52 week low of $12.60 and a 52 week high of $17.58. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39.

Mackinac Financial (NASDAQ:MFNC) last released its earnings results on Thursday, January 31st. The financial services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $15.24 million during the quarter, compared to analysts’ expectations of $15.10 million. Mackinac Financial had a return on equity of 8.52% and a net margin of 14.03%. As a group, equities research analysts expect that Mackinac Financial will post 1.3 EPS for the current year.

Mackinac Financial Company Profile

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.

Further Reading: Mutual Funds

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