The stock of Macatawa Bank Corporation (NASDAQ:MCBC) hit a new 52-week high and has $10.17 target or 7.00% above today’s $9.50 share price. The 5 months bullish chart indicates low risk for the $316.72 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $10.17 price target is reached, the company will be worth $22.17 million 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. About 45,322 shares traded hands. 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.
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 dropped, 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.
Federated Investors Incorporated Pa reported 2,045 shares or 0% of all its holdings. Blackrock Advsr Ltd Liability Corp has invested 0% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC). Price T Rowe Associate Md has 38,100 shares for 0% of their US portfolio. Geode Capital Mngmt Limited Liability Corporation accumulated 0% or 143,633 shares. Denver Inv Limited Liability Com holds 0.01% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC) for 19,430 shares. Magee Thomson Inv Prns Ltd Liability owns 112 shares or 0% of their US portfolio. Wells Fargo & Company Mn owns 13,001 shares or 0% of their US portfolio. Legal And General Gp Pcl holds 0% or 4,187 shares in its portfolio. Jpmorgan Chase holds 0% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC) for 834 shares. Elizabeth Park Cap Limited owns 352,679 shares or 1.11% of their US portfolio. American Grp Inc accumulated 15,226 shares or 0% of the stock. Dimensional Fund Advisors Limited Partnership has invested 0.01% of its portfolio in Macatawa Bank Corporation (NASDAQ:MCBC). Catalyst Cap Advisors Ltd, a New York-based fund reported 20,000 shares. Moreover, Lsv Asset Mgmt has 0% invested in Macatawa Bank Corporation (NASDAQ:MCBC) for 101,420 shares. Bridgeway Mngmt Inc reported 97,600 shares or 0.01% of all its holdings.
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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