Shares of Mackinac Financial Co. (NASDAQ:MFNC) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus price objective of $19.00 for the company, according to Zacks. Zacks has also given Mackinac Financial an industry rank of 69 out of 265 based on the ratings given to related companies.
Several research analysts have issued reports on the stock. ValuEngine cut shares of Mackinac Financial from a “buy” rating to a “hold” rating in a report on Saturday. Hovde Group assumed coverage on shares of Mackinac Financial in a report on Tuesday, April 3rd. They issued an “outperform” rating and a $19.00 target price for the company.
In other Mackinac Financial news, Director Dennis Bittner sold 2,600 shares of Mackinac Financial stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.10, for a total value of $41,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.15% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Mackinac Financial stock. Kennedy Capital Management Inc. increased its stake in shares of Mackinac Financial Co. (NASDAQ:MFNC) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,653 shares of the financial services provider’s stock after purchasing an additional 6,689 shares during the period. Kennedy Capital Management Inc. owned approximately 2.35% of Mackinac Financial worth $2,348,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 28.66% of the company’s stock.
Mackinac Financial stock traded up $0.15 during trading hours on Tuesday, hitting $16.06. The stock had a trading volume of 20,957 shares, compared to its average volume of 8,292. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $102.19, a PE ratio of 12.97 and a beta of 0.48. Mackinac Financial has a 12-month low of $13.16 and a 12-month high of $16.80.
Mackinac Financial (NASDAQ:MFNC) last issued its earnings results on Thursday, February 8th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter. The business had revenue of $10.98 million during the quarter. Mackinac Financial had a net margin of 11.32% and a return on equity of 9.31%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.99%.
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About Mackinac Financial
Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.
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