Revenue Update on Macatawa Bank Corporation(NASDAQ:MCBC)

Macatawa Bank Corporation(NASDAQ:MCBC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $16.14M. Analysts estimated a revenue of $16.53M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.11.

Macatawa Bank Corporation (MCBC) shares turned negative on Thursdays trading session with the shares closing down -0.06 points or -0.79% at a volume of 20,947. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.58. The peak price level was also seen at $7.58 while the days lowest was $7.47. Finally the shares closed at $7.49. The 52-week high of the shares is $7.82 while the 52-week low is $4.96. According to the latest information available, the market cap of the company is $254 M.

Several Insider Transactions has been reported to the SEC. On Feb 10, 2016, Mark Bugge (director) purchased 1,000 shares at $5.72 per share price.Also, On Feb 3, 2016, Roy Michael K. Le (director) purchased 1,000 shares at $5.74 per share price.On Jan 5, 2016, Robert L Herr (director) sold 25 shares at $5.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Macatawa Bank Corporation is a bank holding company for Macatawa Bank. Through the Company’s wholly-owned subsidiary Macatawa Bank it 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. The Company 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 Company offers personal trust services include financial planning investment management services trust and estate administration and custodial services.

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