Jill A. Walcott Sells 15,000 Shares of Macatawa Bank Co. (NASDAQ:MCBC) Stock

Macatawa Bank Co. (NASDAQ:MCBC) 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 transaction of $154,950.00. Following the completion of the transaction, the vice president now owns 68,960 shares in the company, valued at approximately $712,356.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Macatawa Bank stock traded down $0.09 during midday trading on Thursday, reaching $10.32. The stock had a trading volume of 32,113 shares, compared to its average volume of 31,194. Macatawa Bank Co. has a twelve month low of $8.81 and a twelve month high of $12.92. 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 firm has a market capitalization of $355.42 million, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.55 and a beta of 0.59.

Macatawa Bank (NASDAQ:MCBC) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $20.35 million during the quarter, compared to analyst estimates of $20.20 million. Macatawa Bank had a net margin of 31.44% and a return on equity of 15.03%. Equities analysts forecast that Macatawa Bank Co. will post 0.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, May 13th. Macatawa Bank’s dividend payout ratio (DPR) is currently 35.90%.

Several research analysts have issued reports on MCBC shares. ValuEngine lowered shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. BidaskClub lowered shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research upgraded shares of Macatawa Bank from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Several large investors have recently modified their holdings of the business. Wedge Capital Management L L P NC raised its holdings in Macatawa Bank by 21.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 39,222 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 6,963 shares during the period. Claybrook Capital LLC bought a new position in Macatawa Bank in the 4th quarter worth $6,582,000. BlackRock Inc. raised its holdings in Macatawa Bank by 3.5% in the 3rd quarter. BlackRock Inc. now owns 1,433,863 shares of the financial services provider’s stock worth $16,790,000 after acquiring an additional 49,011 shares during the period. Dimensional Fund Advisors LP raised its holdings in Macatawa Bank by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,564,351 shares of the financial services provider’s stock worth $15,049,000 after acquiring an additional 26,220 shares during the period. Finally, MetLife Investment Advisors LLC raised its holdings in Macatawa Bank by 50.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,700 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 7,284 shares during the period. 31.47% of the stock is owned by institutional investors.

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About Macatawa Bank

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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