Macatawa Bank Corporation (NASDAQ:MCBC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Keefe, Bruyette & Woods set a $10.00 target price on Macatawa Bank Corporation and gave the stock a “hold” rating in a research report on Monday, April 10th.

Macatawa Bank Corporation (NASDAQ MCBC) traded down 0.62% during trading on Thursday, reaching $9.55. The company had a trading volume of 100,416 shares. The firm has a market capitalization of $324.17 million, a P/E ratio of 19.14 and a beta of 1.10. The company has a 50-day moving average of $9.42 and a 200-day moving average of $9.85. Macatawa Bank Corporation has a 52-week low of $7.23 and a 52-week high of $10.67.

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Large investors have recently added to or reduced their stakes in the company. Oxford Asset Management purchased a new stake in Macatawa Bank Corporation during the first quarter worth $125,000. American International Group Inc. increased its stake in Macatawa Bank Corporation by 7.2% in the first quarter. American International Group Inc. now owns 16,303 shares of the financial services provider’s stock worth $161,000 after buying an additional 1,094 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Macatawa Bank Corporation by 14.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 20,515 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,519 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Macatawa Bank Corporation by 31.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,113 shares of the financial services provider’s stock worth $220,000 after buying an additional 5,052 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Macatawa Bank Corporation by 36.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,756 shares of the financial services provider’s stock worth $264,000 after buying an additional 7,101 shares during the period. Hedge funds and other institutional investors own 27.81% of the company’s stock.

Macatawa Bank Corporation Company Profile

Macatawa Bank Corporation is a bank holding company. The Company, through its subsidiary, Macatawa Bank (the Bank), 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.

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