Macatawa Bank (NASDAQ:MCBC) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Macatawa Bank (NASDAQ:MCBC) in a research report released on Sunday morning. The firm issued a sell rating on the financial services provider’s stock.

Macatawa Bank Price Performance

Macatawa Bank stock opened at $14.82 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $509.22 million, a PE ratio of 12.35 and a beta of 0.54. Macatawa Bank has a one year low of $8.31 and a one year high of $15.16. The business has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $13.03.

Hedge Funds Weigh In On Macatawa Bank

Several institutional investors have recently bought and sold shares of MCBC. Magnetar Financial LLC bought a new position in Macatawa Bank in the 2nd quarter valued at $6,325,000. Millennium Management LLC increased its stake in shares of Macatawa Bank by 570.3% in the 2nd quarter. Millennium Management LLC now owns 397,350 shares of the financial services provider’s stock valued at $5,801,000 after buying an additional 338,074 shares during the period. Gardner Lewis Asset Management L P acquired a new stake in shares of Macatawa Bank in the 2nd quarter valued at $2,693,000. Bank of Montreal Can acquired a new stake in shares of Macatawa Bank in the 2nd quarter valued at $2,674,000. Finally, American Century Companies Inc. increased its stake in shares of Macatawa Bank by 34.5% in the 2nd quarter. American Century Companies Inc. now owns 441,371 shares of the financial services provider’s stock valued at $6,444,000 after buying an additional 113,167 shares during the period. Institutional investors own 42.49% of the company’s stock.

Macatawa Bank Company Profile

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that engages in the provision of 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.