What’s Ahead for Mackinac Financial Corporation (MFNC) After Making 52-Week High?

June 14, 2018 - By Marie Mckinney

Investors sentiment decreased to 2.2 in 2018 Q1. Its down 1.80, from 4 in 2017Q4. It turned negative, as 2 investors sold Mackinac Financial Corporation shares while 3 reduced holdings. 3 funds opened positions while 8 raised stakes. 1.95 million shares or 46.06% less from 3.62 million shares in 2017Q4 were reported.
Dimensional Fund Advsrs Lp has invested 0% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC). Tower Research Cap Ltd Limited Liability Company (Trc) reported 100 shares stake. Wellington Mgmt Gp Limited Liability Partnership has 121,687 shares. 331,010 were reported by Manufacturers Life Insur The. Vanguard Group Inc accumulated 122,322 shares. Royal Bank & Trust Of Canada reported 0% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC). Naples Advisors Limited Liability Corporation has 0.08% invested in Mackinac Financial Corporation (NASDAQ:MFNC). Howe And Rusling holds 0% or 1,389 shares in its portfolio. Clarkston Capital Prtnrs Ltd holds 0.13% or 198,540 shares. Ativo has invested 0.29% in Mackinac Financial Corporation (NASDAQ:MFNC). Morgan Stanley, New York-based fund reported 130 shares. Lsv Asset Mgmt holds 0% in Mackinac Financial Corporation (NASDAQ:MFNC) or 13,800 shares. Deutsche Natl Bank Ag has invested 0% in Mackinac Financial Corporation (NASDAQ:MFNC). Pnc Financial Ser Grp Inc Inc invested in 67,800 shares. Gendell Jeffrey L holds 154,912 shares.

Since February 16, 2018, it had 0 insider buys, and 2 selling transactions for $54,052 activity. Deering Jesse A sold $12,192 worth of stock or 750 shares.

The stock of Mackinac Financial Corporation (NASDAQ:MFNC) hit a new 52-week high and has $17.87 target or 7.00 % above today’s $16.70 share price. The 9 months bullish chart indicates low risk for the $141.73M company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $17.87 price target is reached, the company will be worth $9.92M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.89% or $0.15 during the last trading session, reaching $16.7. About 36,847 shares traded or 141.26% up from the average. Mackinac Financial Corporation (NASDAQ:MFNC) has risen 6.23% since June 14, 2017 and is uptrending. It has underperformed by 6.34% the S&P500.

More recent Mackinac Financial Corporation (NASDAQ:MFNC) news were published by: Globenewswire.com which released: “Mackinac Financial Corporation Announces Commencement of Common Stock Offering” on June 12, 2018. Also Globenewswire.com published the news titled: “Mackinac Financial Corporation Announces Pricing of Common Stock Offering” on June 13, 2018. Globenewswire.com‘s news article titled: “Mackinac Financial Corporation to acquire Lincoln Community Bank (Wisconsin)” with publication date: June 07, 2018 was also an interesting one.

Mackinac Financial Corporation operates as the holding firm for mBank that provides commercial and retail banking services and products in the United States. The company has market cap of $141.73 million. It offers interest bearing and non-interest bearing deposit products, including commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, time deposits, and certificates of deposit. It has a 20.1 P/E ratio. The firm also provides consumer loan products, such as installment, mortgages, and home equity loans, as well as residential mortgage loans, commercial and governmental lease financing, and direct and indirect consumer financing.

Mackinac Financial Corporation (NASDAQ:MFNC) Institutional Positions Chart

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