Media coverage about Macatawa Bank Corporation (NASDAQ:MCBC) has been trending somewhat positive on Friday, according to Alpha One Sentiment Analysis. Alpha One, a division of Accern, identifies negative and positive media coverage by analyzing more than twenty million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Macatawa Bank Corporation earned a coverage optimism score of 0.19 on Alpha One’s scale. Alpha One also gave press coverage about the financial services provider an impact score of 50 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the near term.
Macatawa Bank Corporation (NASDAQ:MCBC) traded down 1.35% on Friday, hitting $9.48. 282,826 shares of the stock traded hands. Macatawa Bank Corporation has a 52-week low of $6.54 and a 52-week high of $10.67. The company’s 50 day moving average price is $9.54 and its 200-day moving average price is $9.87. The stock has a market cap of $321.79 million, a price-to-earnings ratio of 19.00 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Monday, May 15th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 11th. This represents a $0.16 annualized dividend and a dividend yield of 1.69%. Macatawa Bank Corporation’s payout ratio is 32.00%.
Separately, Keefe, Bruyette & Woods set a $10.00 price target on shares of Macatawa Bank Corporation and gave the stock a “hold” rating in a report on Monday, April 10th.
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.
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