Los Angeles Capital Management LLC Cuts Holdings in Macatawa Bank Co. (NASDAQ:MCBC)

Los Angeles Capital Management LLC trimmed its holdings in shares of Macatawa Bank Co. (NASDAQ:MCBC) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,829 shares of the financial services provider’s stock after selling 19,865 shares during the period. Los Angeles Capital Management LLC owned about 0.15% of Macatawa Bank worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. BHZ Capital Management LP raised its stake in shares of Macatawa Bank by 136.6% during the 3rd quarter. BHZ Capital Management LP now owns 199,733 shares of the financial services provider’s stock worth $1,604,000 after buying an additional 115,326 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Macatawa Bank by 28.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 72,121 shares of the financial services provider’s stock worth $579,000 after buying an additional 16,007 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Macatawa Bank during the 3rd quarter worth approximately $144,000. Berman Capital Advisors LLC raised its stake in shares of Macatawa Bank by 210.5% during the 3rd quarter. Berman Capital Advisors LLC now owns 13,142 shares of the financial services provider’s stock worth $105,000 after buying an additional 8,910 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Macatawa Bank by 35.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 397,833 shares of the financial services provider’s stock worth $3,481,000 after buying an additional 105,137 shares in the last quarter. 35.81% of the stock is owned by institutional investors and hedge funds.

Shares of MCBC stock opened at $9.41 on Friday. The company has a market cap of $321.73 million, a price-to-earnings ratio of 10.16 and a beta of 0.80. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $8.82 and a 200-day simple moving average of $8.46. Macatawa Bank Co. has a 12-month low of $7.37 and a 12-month high of $10.66.

Macatawa Bank (NASDAQ:MCBC) last released its quarterly earnings results on Wednesday, October 27th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $19.94 million during the quarter. Macatawa Bank had a return on equity of 12.94% and a net margin of 36.08%.

The company also recently declared a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Thursday, November 11th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Tuesday, November 9th. Macatawa Bank’s dividend payout ratio is currently 34.41%.

Macatawa Bank Profile

Macatawa Bank Corp. operates as a holding company, which engages in the provision of financial services. The company offers a range of commercial and personal banking services. It also includes checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans, internet and telephone banking, and debit cards.

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Institutional Ownership by Quarter for Macatawa Bank (NASDAQ:MCBC)

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