The stock of Macatawa Bank Corporation (NASDAQ:MCBC) is a huge mover today! About 60,989 shares traded hands or 12.69% up from the average. Macatawa Bank Corporation (NASDAQ:MCBC) has risen 32.90% since April 26, 2016 and is uptrending. It has outperformed by 27.64% the S&P500.
The move comes after 9 months positive chart setup for the $319.39 million company. It was reported on Nov, 29 by Barchart.com. We have $10.07 PT which if reached, will make NASDAQ:MCBC worth $15.97M more.
Analysts await Macatawa Bank Corporation (NASDAQ:MCBC) to report earnings on January, 26.
According to Zacks Investment Research, “Macatawa Bank Corporation is a bank holding company. The company provides a full range of commercial and consumer banking services primarily in the communities of Holland and Zeeland, Michigan, as well as the surrounding market area principally located in Ottawa County. The company’s services include checking and savings accounts, safe deposit boxes, travelers checks, money orders, trust services and commercial, mortgage and consumer loans.”
Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.53, from 1.32 in 2016Q1. The ratio worsened, as 15 funds sold all Macatawa Bank Corporation shares owned while 13 reduced positions. 16 funds bought stakes while 21 increased positions. They now own 8.26 million shares or 23.51% more from 6.69 million shares in 2016Q1.
Panagora Asset Management Incorporated reported 21,607 shares or 0% of all its holdings. The New York-based Mufg Americas has invested 0% in Macatawa Bank Corporation (NASDAQ:MCBC). Raymond James And reported 14,403 shares or 0% of all its holdings. Tiaa Cref Mngmt Ltd Com holds 0% or 80,617 shares in its portfolio. Price T Rowe Associate Incorporated Md owns 38,100 shares or 0% of their US portfolio. Renaissance Tech Ltd Liability Corp holds 0.01% or 753,800 shares in its portfolio. Blackrock Lc reported 104,298 shares or 0% of all its holdings. Moreover, California State Teachers Retirement Systems has 0% invested in Macatawa Bank Corporation (NASDAQ:MCBC) for 55,461 shares. Denver Inv Advisors Lc has 19,430 shares for 0.01% of their US portfolio. Morgan Stanley accumulated 85,931 shares or 0% of the stock. Blackrock holds 0% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC) for 8,341 shares. Stifel Fincl accumulated 0% or 28,380 shares. Dimensional Fund Advsr Limited Partnership has invested 0.01% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC). Deutsche Bankshares Ag holds 0% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC) for 118,119 shares. Bnp Paribas Arbitrage has 0% invested in the company for 1,046 shares.
More important recent Macatawa Bank Corporation (NASDAQ:MCBC) news were published by: Nasdaq.com which released: “Macatawa Bank Corporation (MCBC) Ex-Dividend Date Scheduled for November 09, 2016” on November 08, 2016, also Mlive.com published article titled: “‘We’ve fixed the bank,’ Macatawa Bank Corp. chairman tells shareholders”, Mlive.com published: “Macatawa Bank Corp. Chairman Ben Smith steps down” on February 10, 2009. More interesting news about Macatawa Bank Corporation (NASDAQ:MCBC) was released by: Mlive.com and their article: “See which insiders bought more Macatawa Bank Corp. stock last week” with publication date: February 12, 2015.
MCBC Company Profile
Macatawa Bank Corporation, incorporated on November 20, 1997, is a bank holding company. The Firm owns Macatawa Bank (the Bank). The Firm operates through commercial banking segment. Through its subsidiary, Macatawa Bank, the Company offers a range of commercial and personal banking services, including checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans through over 30 branch offices, and a lending and operation service facility in Ottawa County, Kent County and northern Allegan County, Michigan. It also offers automated teller machines (ATMs), Internet banking, telephone banking and debit cards. The Bank provides various brokerage services, including discount brokerage through Infinex, personal financial planning and consultation regarding mutual funds. The Firm offers personal trust services, which include financial planning, investment management services, trust and estate administration, and custodial services. The personal trust assets under management totals approximately $363.8 million. The Company’s retirement plan services provide various types of qualified retirement plans, including profit sharing, 401(k) and pension plans. The Company’s retirement plan assets under management totals approximately $304.6 million.
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