Macatawa Bank (NASDAQ:MCBC) Shares Pass Above Two Hundred Day Moving Average of $10.44

Macatawa Bank Co. (NASDAQ:MCBC – Get Rating) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.44 and traded as high as $10.88. Macatawa Bank shares last traded at $10.87, with a volume of 33,311 shares.

Macatawa Bank Price Performance

The stock’s fifty day moving average price is $10.81 and its 200-day moving average price is $10.44. The firm has a market cap of $372.84 million, a price-to-earnings ratio of 10.76 and a beta of 0.66. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12.

Macatawa Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.32 annualized dividend and a yield of 2.94%. Macatawa Bank’s dividend payout ratio (DPR) is presently 31.68%.

Institutional Trading of Macatawa Bank

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Macatawa Bank in the 3rd quarter valued at approximately $30,000. FMR LLC increased its holdings in Macatawa Bank by 332.4% in the 2nd quarter. FMR LLC now owns 3,593 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 2,762 shares during the last quarter. Ronald Blue Trust Inc. acquired a new stake in Macatawa Bank in the 2nd quarter valued at approximately $36,000. Advisor Group Holdings Inc. increased its holdings in Macatawa Bank by 1,239.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 8,481 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 7,848 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Macatawa Bank in the 2nd quarter valued at approximately $99,000. Institutional investors and hedge funds own 40.29% of the company’s stock.

Macatawa Bank Company Profile

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Macatawa Bank Corp. operates as a holding company, which engages in the provision of financial services. The company offers a range of commercial and personal banking services. It also includes checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans, internet and telephone banking, and debit cards.