Mackinac Financial Co. (NASDAQ:MFNC)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.60 and traded as high as $15.30. Mackinac Financial shares last traded at $15.30, with a volume of 225 shares traded.
Several brokerages recently commented on MFNC. ValuEngine lowered Mackinac Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded Mackinac Financial from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, August 8th.
The company’s 50 day moving average price is $14.60 and its 200 day moving average price is $15.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $160.57 million, a price-to-earnings ratio of 12.98 and a beta of 0.66.
A number of institutional investors have recently modified their holdings of the business. Clarkston Capital Partners LLC raised its stake in shares of Mackinac Financial by 1.0% in the second quarter. Clarkston Capital Partners LLC now owns 210,008 shares of the financial services provider’s stock valued at $3,318,000 after acquiring an additional 2,019 shares during the last quarter. Naples Global Advisors LLC raised its position in Mackinac Financial by 10.5% in the 2nd quarter. Naples Global Advisors LLC now owns 21,015 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 2,000 shares during the last quarter. Strs Ohio acquired a new position in Mackinac Financial in the second quarter worth $39,000. Walthausen & Co. LLC acquired a new position in Mackinac Financial in the first quarter worth $470,000. Finally, Dimensional Fund Advisors LP boosted its stake in Mackinac Financial by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 430,760 shares of the financial services provider’s stock worth $5,879,000 after purchasing an additional 5,693 shares in the last quarter. 49.43% of the stock is currently owned by hedge funds and other institutional investors.
About Mackinac Financial (NASDAQ:MFNC)
Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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