Keefe Bruyette & Woods Maintains Macatawa Bank Corporation to Market Perform with Price Target $7.50

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Macatawa Bank Corporation(NASDAQ:MCBC). In a research note issued to the investors, the brokerage major Raises the price-target to $7.50 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 1, 2016.

Macatawa Bank Corporation (MCBC) remained unchanged at the close of Monday session. Even as the volume increased to 28,936 ,the shares failed to make any impression and ended at 0 points or 0.00% at $7.66. The trading session commenced at $7.6925 and the stock hit a high of $7.71 and touched $7.62 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $7.82 and the 52-week low is $4.96. The company has a market cap of $260 M and has approximately 3,39,22,289 outstanding shares.

Macatawa Bank Corporation(MCBC) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $16.14M. Analysts had an estimated revenue of $16.53M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.11.

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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