Walthausen & Co. LLC raised its position in Mackinac Financial Co. (NASDAQ:MFNC) by 55.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,456 shares of the financial services provider’s stock after purchasing an additional 31,556 shares during the quarter. Walthausen & Co. LLC owned 0.82% of Mackinac Financial worth $1,544,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MFNC. EJF Capital LLC grew its holdings in Mackinac Financial by 1.6% during the fourth quarter. EJF Capital LLC now owns 533,211 shares of the financial services provider’s stock worth $9,310,000 after purchasing an additional 8,211 shares during the period. State Street Corp grew its holdings in Mackinac Financial by 10.8% during the fourth quarter. State Street Corp now owns 142,359 shares of the financial services provider’s stock worth $2,506,000 after purchasing an additional 13,857 shares during the period. Renaissance Technologies LLC grew its holdings in Mackinac Financial by 11.5% during the fourth quarter. Renaissance Technologies LLC now owns 86,769 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 8,969 shares during the period. Bank of New York Mellon Corp grew its holdings in Mackinac Financial by 169.9% during the fourth quarter. Bank of New York Mellon Corp now owns 70,058 shares of the financial services provider’s stock worth $1,223,000 after purchasing an additional 44,105 shares during the period. Finally, LSV Asset Management grew its holdings in Mackinac Financial by 32.6% during the fourth quarter. LSV Asset Management now owns 18,300 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 4,500 shares during the period. 51.51% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director David Russ Steinhardt purchased 3,994 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average cost of $9.43 per share, for a total transaction of $37,663.42. Following the completion of the purchase, the director now owns 13,034 shares in the company, valued at approximately $122,910.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.90% of the company’s stock.
Shares of NASDAQ:MFNC traded up $1.08 during trading on Thursday, reaching $10.51. 17,100 shares of the stock were exchanged, compared to its average volume of 18,507. Mackinac Financial Co. has a 12 month low of $6.52 and a 12 month high of $17.75. The firm has a market cap of $101.96 million, a PE ratio of 8.08 and a beta of 0.75. The stock has a 50-day moving average price of $13.47 and a 200-day moving average price of $15.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40.
Mackinac Financial (NASDAQ:MFNC) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). The company had revenue of $15.20 million during the quarter, compared to the consensus estimate of $15.10 million. Mackinac Financial had a net margin of 19.69% and a return on equity of 8.82%. On average, sell-side analysts expect that Mackinac Financial Co. will post 1.2 earnings per share for the current fiscal year.
About Mackinac Financial
Mackinac Financial Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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