Somewhat Favorable News Coverage Somewhat Unlikely to Affect Macatawa Bank (MCBC) Share Price

Media headlines about Macatawa Bank (NASDAQ:MCBC) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm scores the sentiment of press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Macatawa Bank earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 47.8996234163069 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

MCBC has been the subject of several analyst reports. BidaskClub upgraded Macatawa Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. ValuEngine upgraded Macatawa Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. DA Davidson initiated coverage on Macatawa Bank in a research note on Friday, June 29th. They issued a “neutral” rating and a $13.00 price objective for the company. Finally, Hovde Group restated a “hold” rating and issued a $13.00 price objective on shares of Macatawa Bank in a research note on Monday, July 30th.

Shares of NASDAQ:MCBC traded up $0.10 during midday trading on Thursday, hitting $12.24. The company had a trading volume of 158 shares, compared to its average volume of 34,543. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $421.10 million, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. Macatawa Bank has a 12-month low of $9.21 and a 12-month high of $12.92.

Macatawa Bank (NASDAQ:MCBC) last posted its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $19.12 million during the quarter, compared to analyst estimates of $19.30 million. Macatawa Bank had a return on equity of 12.57% and a net margin of 24.45%. equities research analysts expect that Macatawa Bank will post 0.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 29th. Shareholders of record on Tuesday, August 14th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.96%. Macatawa Bank’s payout ratio is presently 43.64%.

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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