Macatawa Bank Co. (NASDAQ:MCBC) Stock Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in shares of Macatawa Bank Co. (NASDAQ:MCBC) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564,351 shares of the financial services provider’s stock after acquiring an additional 26,220 shares during the period. Dimensional Fund Advisors LP owned about 4.60% of Macatawa Bank worth $15,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in Macatawa Bank by 0.9% during the 4th quarter. BlackRock Inc. now owns 1,447,300 shares of the financial services provider’s stock worth $13,923,000 after acquiring an additional 13,437 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Macatawa Bank by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,120,677 shares of the financial services provider’s stock valued at $13,123,000 after buying an additional 37,253 shares in the last quarter. Claybrook Capital LLC purchased a new position in shares of Macatawa Bank in the 4th quarter valued at approximately $6,582,000. Geode Capital Management LLC raised its position in shares of Macatawa Bank by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 229,283 shares of the financial services provider’s stock valued at $2,205,000 after purchasing an additional 13,448 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Macatawa Bank by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 205,167 shares of the financial services provider’s stock valued at $1,973,000 after purchasing an additional 2,802 shares during the last quarter. Institutional investors own 31.47% of the company’s stock.

MCBC has been the subject of several research analyst reports. ValuEngine lowered shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. BidaskClub cut shares of Macatawa Bank from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research raised shares of Macatawa Bank from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.33.

MCBC remained flat at $$10.26 on Monday. 24,300 shares of the company’s stock traded hands, compared to its average volume of 31,489. Macatawa Bank Co. has a 52 week low of $8.81 and a 52 week high of $12.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s fifty day moving average price is $10.29. The stock has a market capitalization of $348.57 million, a P/E ratio of 13.15, a PEG ratio of 1.53 and a beta of 0.54.

Macatawa Bank (NASDAQ:MCBC) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Macatawa Bank had a return on equity of 15.03% and a net margin of 31.44%. The business had revenue of $20.35 million for the quarter, compared to analyst estimates of $20.20 million. As a group, equities analysts anticipate that Macatawa Bank Co. will post 0.84 earnings per share for the current fiscal year.

In related news, VP Jill A. Walcott sold 15,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $10.33, for a total value of $154,950.00. Following the sale, the vice president now directly owns 68,960 shares in the company, valued at approximately $712,356.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jill A. Walcott sold 4,200 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.28, for a total transaction of $43,176.00. Following the completion of the sale, the vice president now owns 75,416 shares in the company, valued at $775,276.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,100 shares of company stock worth $218,589. Insiders own 8.60% of the company’s stock.

Macatawa Bank 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.

Read More: Diluted Earnings Per Share

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

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