Macatawa Bank Corporation (NASDAQ:MCBC) announced its quarterly earnings data on Thursday. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14, Yahoo Finance reports. The firm had revenue of $17.44 million for the quarter. Macatawa Bank Corporation had a net margin of 24.52% and a return on equity of 10.86%.

Shares of Macatawa Bank Corporation (NASDAQ:MCBC) traded up 0.10% during midday trading on Friday, reaching $10.26. 49,498 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $10.12 and a 200 day moving average price of $9.66. Macatawa Bank Corporation has a 12 month low of $7.84 and a 12 month high of $10.67. The company has a market cap of $348.20 million, a P/E ratio of 19.40 and a beta of 1.15.

In related news, insider Matthew D. Hoeksema purchased 5,031 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average cost of $9.50 per share, for a total transaction of $47,794.50. Following the completion of the transaction, the insider now directly owns 25,601 shares in the company, valued at approximately $243,209.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

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A number of equities research analysts have issued reports on MCBC shares. BidaskClub upgraded shares of Macatawa Bank Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $10.00 price objective on shares of Macatawa Bank Corporation in a research note on Friday, July 14th.

About Macatawa Bank Corporation

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.

Earnings History for Macatawa Bank Corporation (NASDAQ:MCBC)

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