Mackinac Financial Downgraded to “Hold” at TheStreet (MFNC)
Mackinac Financial (NASDAQ:MFNC) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Wednesday, American Banking News reports.
The analysts wrote, “Mackinac Financial Corporation (MFNC) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow.”
Mackinac Financial (NASDAQ:MFNC) traded up 3.11% during mid-day trading on Wednesday, hitting $12.58. 23,922 shares of the company’s stock traded hands. Mackinac Financial has a one year low of $8.25 and a one year high of $15.06. The stock has a 50-day moving average of $12.65 and a 200-day moving average of $10.59. The company has a market cap of $69.5 million and a P/E ratio of 12.20.
Mackinac Financial (NASDAQ:MFNC) last announced its earnings results on Thursday, January 30th. The company reported $0.52 EPS for the quarter.
Mackinac Financial Corporation is a bank holding company that operates through its principal subsidiary, mBank (NASDAQ:MFNC).
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