TOday’s Movers: Macatawa Bank (NASDAQ:MCBC) Stock Rating Maintained by Raymond James; $36 Target Price Indicates 188.92 % Potential

September 8, 2018 - By Megan Stone

Macatawa Bank Corporation (NASDAQ:MCBC) Logo

Investors sentiment decreased to 1.12 in Q1 2018. Its down 0.03, from 1.15 in 2017Q4. It turned negative, as 6 investors sold Macatawa Bank Corporation shares while 19 reduced holdings. 9 funds opened positions while 19 raised stakes. 9.46 million shares or 3.41% more from 9.14 million shares in 2017Q4 were reported.

Massachusetts-based State Street Corp has invested 0% in Macatawa Bank Corporation (NASDAQ:MCBC). Plante Moran Fincl Advsrs Ltd Liability Corporation owns 19,760 shares or 0.11% of their US portfolio. Barclays Public Limited Com owns 0% invested in Macatawa Bank Corporation (NASDAQ:MCBC) for 5,608 shares. 41,116 were accumulated by Wells Fargo And Mn. Ohio-based Stratos Wealth Prtnrs Limited has invested 0% in Macatawa Bank Corporation (NASDAQ:MCBC). Chicago Equity Prns Ltd Liability owns 52,905 shares. 39,563 were accumulated by California State Teachers Retirement. California Public Employees Retirement Systems stated it has 115,552 shares. Northern Corporation holds 0% in Macatawa Bank Corporation (NASDAQ:MCBC) or 281,742 shares. Elizabeth Park Cap Advisors Limited invested 2.69% in Macatawa Bank Corporation (NASDAQ:MCBC). Legal & General Gp Public Limited Co has 4,313 shares for 0% of their portfolio. Credit Suisse Ag has 10,802 shares for 0% of their portfolio. Savings Bank Of New York Mellon Corporation reported 194,870 shares or 0% of all its holdings. Price T Rowe Associate Md invested in 0% or 38,224 shares. Dimensional Fund Advisors L P stated it has 0.01% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC).

Since May 9, 2018, it had 1 insider buy, and 0 insider sales for $22,859 activity.

Macatawa Bank (NASDAQ:MCBC) Rating Reaffirmed

New York: In a report issued on Friday, 7 September, Raymond James reconfirmed their Strong Buy rating on Macatawa Bank (NASDAQ:MCBC) shares. They now have a $36 price target on the firm. Raymond James’s target would suggest a potential upside of 188.92 % from the company’s previous stock close.

Macatawa Bank Corporation (NASDAQ:MCBC) Ratings Coverage

Among 2 analysts covering Macatawa Bank (NASDAQ:MCBC), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Macatawa Bank has $36 highest and $13 lowest target. $24.50’s average target is 96.63% above currents $12.46 stock price. Macatawa Bank had 2 analyst reports since June 29, 2018 according to SRatingsIntel. The firm has “Strong Buy” rating by Raymond James given on Friday, September 7.

The stock increased 0.32% or $0.04 during the last trading session, reaching $12.46. About 21,858 shares traded. Macatawa Bank Corporation (NASDAQ:MCBC) has risen 28.03% since September 8, 2017 and is uptrending. It has outperformed by 15.46% the S&P500.

Analysts await Macatawa Bank Corporation (NASDAQ:MCBC) to report earnings on October, 25. They expect $0.21 EPS, up 50.00 % or $0.07 from last year’s $0.14 per share. MCBC’s profit will be $7.14 million for 14.83 P/E if the $0.21 EPS becomes a reality. After $0.20 actual EPS reported by Macatawa Bank Corporation for the previous quarter, Wall Street now forecasts 5.00 % EPS growth.

Macatawa Bank Corporation operates as the bank holding firm for Macatawa Bank that provides commercial and consumer banking and trust services. The company has market cap of $423.82 million. The firm accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits. It has a 21.67 P/E ratio. The Company’s loan products include commercial and industrial loans comprising loans to finance activities and equipment; commercial real estate loans, which consist of construction and development, and multi-family and other non-residential real estate loans; retail loans, such as residential mortgage loans; and consumer loans, including automobile loans, home equity lines of credit and installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes.

Macatawa Bank Corporation (NASDAQ:MCBC) Institutional Positions Chart

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