Financial Comparison: Mackinac Financial (NASDAQ:MFNC) versus Citizens Financial Services (NASDAQ:CZFS)

Mackinac Financial (NASDAQ:MFNC) and Citizens Financial Services (OTCMKTS:CZFS) are both small-cap finance companies, but which is the superior business? We will contrast the two businesses based on the strength of their earnings, valuation, dividends, profitability, analyst recommendations, institutional ownership and risk.


This table compares Mackinac Financial and Citizens Financial Services’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Mackinac Financial 19.81% 9.16% 1.08%
Citizens Financial Services 27.21% 13.04% 1.31%

Analyst Recommendations

This is a breakdown of current ratings and price targets for Mackinac Financial and Citizens Financial Services, as reported by

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Mackinac Financial 0 0 0 0 N/A
Citizens Financial Services 0 0 1 0 3.00

Insider and Institutional Ownership

50.5% of Mackinac Financial shares are owned by institutional investors. Comparatively, 1.4% of Citizens Financial Services shares are owned by institutional investors. 14.9% of Mackinac Financial shares are owned by insiders. Comparatively, 12.3% of Citizens Financial Services shares are owned by insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth.

Earnings & Valuation

This table compares Mackinac Financial and Citizens Financial Services’ gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Mackinac Financial $59.64 million 2.84 $8.37 million $1.22 12.89
Citizens Financial Services $64.49 million 3.25 $18.03 million $5.09 11.69

Citizens Financial Services has higher revenue and earnings than Mackinac Financial. Citizens Financial Services is trading at a lower price-to-earnings ratio than Mackinac Financial, indicating that it is currently the more affordable of the two stocks.

Risk and Volatility

Mackinac Financial has a beta of 0.66, indicating that its stock price is 34% less volatile than the S&P 500. Comparatively, Citizens Financial Services has a beta of 0.11, indicating that its stock price is 89% less volatile than the S&P 500.


Mackinac Financial pays an annual dividend of $0.56 per share and has a dividend yield of 3.6%. Citizens Financial Services pays an annual dividend of $1.80 per share and has a dividend yield of 3.0%. Mackinac Financial pays out 45.9% of its earnings in the form of a dividend. Citizens Financial Services pays out 35.4% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years.


Citizens Financial Services beats Mackinac Financial on 9 of the 14 factors compared between the two stocks.

Mackinac Financial Company Profile

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. The bank offers consumer loans, including credit card loans, revolving credit plans, and automotive loans. It offers commercial real estate loans for land development and on-site construction of industrial, commercial, residential, or farm buildings in the United States; real estate-backed residential loans; and commercial loans collateralized by real estate properties. It offers domestic and foreign commercial and industrial loans. The bank offers loans for the purpose of financing agricultural production; loans which include planned and unplanned overdrafts, to governments in non-U.S. countries, to their official institutions, and to international and regional institutions. The company was formerly known as North Country Financial Corporation and changed its name to Mackinac Financial Corporation in December 2004. Mackinac Financial Corporation was founded in 1974 and is based in Manistique, Michigan.

Citizens Financial Services Company Profile

Citizens Financial Services, Inc. operates as the holding company for First Citizens Community Bank that provides various banking products and services for individual, business, governmental, and institutional customers. The company accepts various deposit products, such as checking, savings, and time deposit accounts. Its loan products include residential, commercial, and agricultural real estate loans; commercial and industrial loans; state and political subdivision loans; and consumer loans, as well as various other specialized financial services. The company also provides professional trust administration, investment management services, estate planning and administration, custody of securities, and individual retirement accounts. In addition, it offers brokerage and financial planning services, as well as manages oil and gas matters related to the customers land; and mutual funds, annuities, and health and life insurance products. As of December 31, 2018, the company operated 26 full-service banking branches in Potter, Tioga, Bradford, Clinton, Lebanon, Lancaster, Berks, Schuylkill, and Centre counties, Pennsylvania; and Allegany County, New York, as well as a limited branch office each in Union and Lancaster counties, Pennsylvania. Citizens Financial Services, Inc. was founded in 1984 and is headquartered in Mansfield, Pennsylvania.

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