Mackinac Financial Co. (NASDAQ:MFNC)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $16.54 and traded as high as $16.65. Mackinac Financial shares last traded at $16.44, with a volume of 11,784 shares traded.
A number of brokerages have recently issued reports on MFNC. Zacks Investment Research upgraded shares of Mackinac Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. ValuEngine raised shares of Mackinac Financial from a “sell” rating to a “hold” rating in a report on Tuesday.
The stock’s 50-day moving average price is $16.59 and its 200-day moving average price is $15.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $176.71 million, a price-to-earnings ratio of 12.15 and a beta of 0.69.
Mackinac Financial (NASDAQ:MFNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $15.30 million. Mackinac Financial had a return on equity of 9.16% and a net margin of 19.81%. Analysts anticipate that Mackinac Financial Co. will post 1.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, December 26th. This is a boost from Mackinac Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 3.54%. Mackinac Financial’s payout ratio is currently 45.90%.
A number of institutional investors and hedge funds have recently bought and sold shares of MFNC. Millennium Management LLC acquired a new stake in Mackinac Financial in the third quarter valued at $200,000. State Street Corp raised its stake in shares of Mackinac Financial by 7.4% during the 3rd quarter. State Street Corp now owns 128,502 shares of the financial services provider’s stock worth $2,005,000 after buying an additional 8,868 shares during the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in shares of Mackinac Financial during the 3rd quarter worth $196,000. Vanguard Group Inc. boosted its position in shares of Mackinac Financial by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 412,749 shares of the financial services provider’s stock worth $6,522,000 after buying an additional 27,521 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Mackinac Financial by 1,878.0% in the 2nd quarter. BlackRock Inc. now owns 432,775 shares of the financial services provider’s stock worth $6,838,000 after buying an additional 410,896 shares in the last quarter. Institutional investors own 50.51% of the company’s stock.
About Mackinac Financial (NASDAQ:MFNC)
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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