Analysts Set $19.00 Price Target for Mackinac Financial Co. (NASDAQ:MFNC)

Mackinac Financial Co. (NASDAQ:MFNC) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $19.00 for the company and are expecting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Mackinac Financial an industry rank of 219 out of 256 based on the ratings given to its competitors.

A number of equities research analysts recently issued reports on MFNC shares. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.

Shares of Mackinac Financial stock traded down $0.08 on Friday, hitting $15.71. The stock had a trading volume of 12,719 shares, compared to its average volume of 73,083. Mackinac Financial has a twelve month low of $12.60 and a twelve month high of $17.48. The company has a 50 day moving average price of $15.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $169.60 million, a PE ratio of 13.05 and a beta of 0.62.

Mackinac Financial (NASDAQ:MFNC) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Mackinac Financial had a net margin of 15.40% and a return on equity of 8.08%. The firm had revenue of $14.35 million during the quarter, compared to analyst estimates of $14.40 million. On average, equities research analysts expect that Mackinac Financial will post 1.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Thursday, June 27th. Mackinac Financial’s dividend payout ratio is currently 39.34%.

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Mackinac Financial by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 430,760 shares of the financial services provider’s stock worth $5,879,000 after buying an additional 5,693 shares in the last quarter. Clarkston Capital Partners LLC grew its position in Mackinac Financial by 2.6% during the first quarter. Clarkston Capital Partners LLC now owns 207,989 shares of the financial services provider’s stock worth $3,274,000 after buying an additional 5,172 shares in the last quarter. Shoals Capital Management LP acquired a new stake in Mackinac Financial during the fourth quarter worth approximately $546,000. Walthausen & Co. LLC acquired a new stake in Mackinac Financial during the first quarter worth approximately $470,000. Finally, Naples Global Advisors LLC grew its position in Mackinac Financial by 10.5% during the second quarter. Naples Global Advisors LLC now owns 21,015 shares of the financial services provider’s stock worth $332,000 after buying an additional 2,000 shares in the last quarter. 46.69% of the stock is currently owned by institutional investors and hedge funds.

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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