Macatawa Bank Co. (NASDAQ:MCBC) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 284,600 shares, a decline of 11.2% from the June 15th total of 320,600 shares. Based on an average trading volume of 34,800 shares, the short-interest ratio is presently 8.2 days. Approximately 1.1% of the shares of the company are short sold.

A number of equities analysts have commented on the company. ValuEngine upgraded YPF from a “sell” rating to a “hold” rating in a research note on Monday, June 24th. BidaskClub downgraded Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.33.

In other Macatawa Bank news, VP Jill A. Walcott sold 15,000 shares of Macatawa Bank stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $10.33, for a total value of $154,950.00. Following the completion of the transaction, the vice president now directly owns 68,960 shares in the company, valued at $712,356.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jill A. Walcott sold 4,200 shares of Macatawa Bank stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.28, for a total value of $43,176.00. Following the completion of the transaction, the vice president now owns 75,416 shares of the company’s stock, valued at $775,276.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,100 shares of company stock valued at $218,589. 8.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC raised its holdings in Macatawa Bank by 21.6% during the first quarter. Wedge Capital Management L L P NC now owns 39,222 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 6,963 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Macatawa Bank by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,564,351 shares of the financial services provider’s stock worth $15,049,000 after purchasing an additional 26,220 shares in the last quarter. Two Sigma Investments LP raised its holdings in Macatawa Bank by 106.4% during the fourth quarter. Two Sigma Investments LP now owns 30,242 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 15,590 shares in the last quarter. Geode Capital Management LLC raised its holdings in Macatawa Bank by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 229,283 shares of the financial services provider’s stock worth $2,205,000 after purchasing an additional 13,448 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Macatawa Bank by 4.8% during the fourth quarter. Stifel Financial Corp now owns 74,070 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 3,424 shares in the last quarter. Institutional investors and hedge funds own 31.47% of the company’s stock.

Shares of NASDAQ MCBC traded up $0.29 during midday trading on Friday, hitting $10.21. 45,734 shares of the company’s stock were exchanged, compared to its average volume of 40,450. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average is $10.14. The stock has a market cap of $347.59 million, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.52 and a beta of 0.54. Macatawa Bank has a twelve month low of $8.81 and a twelve month high of $12.63.

Macatawa Bank (NASDAQ:MCBC) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $21.05 million during the quarter, compared to the consensus estimate of $20.50 million. Macatawa Bank had a return on equity of 15.47% and a net margin of 31.79%. As a group, equities research analysts predict that Macatawa Bank will post 0.84 earnings per share for the current fiscal year.

Macatawa Bank Company Profile

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits.

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