Mackinac Financial Corporation (NASDAQ:MFNC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Shares of Mackinac Financial Corporation (MFNC) traded up 0.94% during midday trading on Friday, hitting $13.97. 195 shares of the stock were exchanged. The stock has a market cap of $87.93 million, a P/E ratio of 17.20 and a beta of 0.66. The stock’s 50-day moving average price is $13.86 and its 200 day moving average price is $13.63. Mackinac Financial Corporation has a one year low of $10.64 and a one year high of $14.98.

Mackinac Financial Corporation (NASDAQ:MFNC) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $9.94 million for the quarter. Mackinac Financial Corporation had a return on equity of 8.79% and a net margin of 11.39%.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.48 annualized dividend and a yield of 3.44%. Mackinac Financial Corporation’s payout ratio is presently 60.00%.

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Mackinac Financial Corporation Company Profile

Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.

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