Zacks Investment Research downgraded shares of Mackinac Financial (NASDAQ:MFNC) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “NORTH COUNTRY’s mission is to serve their trading area with quality financial services and products. “

Separately, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd.

NASDAQ MFNC opened at $15.71 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average price of $15.78. Mackinac Financial has a 1 year low of $12.60 and a 1 year high of $17.48. The firm has a market cap of $169.60 million, a P/E ratio of 13.05 and a beta of 0.62.

Mackinac Financial (NASDAQ:MFNC) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Mackinac Financial had a net margin of 15.40% and a return on equity of 8.08%. The business had revenue of $14.35 million during the quarter, compared to analysts’ expectations of $14.40 million. As a group, sell-side analysts predict that Mackinac Financial will post 1.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.06%. The ex-dividend date was Thursday, June 27th. Mackinac Financial’s payout ratio is 39.34%.

Large investors have recently bought and sold shares of the business. Naples Global Advisors LLC boosted its holdings in Mackinac Financial by 10.5% during the 2nd quarter. Naples Global Advisors LLC now owns 21,015 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 2,000 shares during the period. Walthausen & Co. LLC purchased a new stake in Mackinac Financial during the 1st quarter valued at about $470,000. Clarkston Capital Partners LLC boosted its holdings in Mackinac Financial by 2.6% during the 1st quarter. Clarkston Capital Partners LLC now owns 207,989 shares of the financial services provider’s stock valued at $3,274,000 after acquiring an additional 5,172 shares during the period. Tibra Equities Europe Ltd purchased a new stake in Mackinac Financial during the 1st quarter valued at about $321,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Mackinac Financial by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 430,760 shares of the financial services provider’s stock valued at $5,879,000 after acquiring an additional 5,693 shares during the period. 46.69% of the stock is currently owned by institutional investors.

Mackinac Financial Company Profile

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.

Recommended Story: How are capital gains distributions different for tax-deferred account?

Get a free copy of the Zacks research report on Mackinac Financial (MFNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.