Mackinac Financial Co. (NASDAQ:MFNC) Director Dennis Bittner sold 2,000 shares of Mackinac Financial stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $15.50, for a total transaction of $31,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Dennis Bittner also recently made the following trade(s):

  • On Friday, September 7th, Dennis Bittner sold 1,250 shares of Mackinac Financial stock. The stock was sold at an average price of $16.41, for a total transaction of $20,512.50.

Mackinac Financial stock opened at $15.89 on Friday. The company has a market capitalization of $166.15 million, a PE ratio of 13.24 and a beta of 0.56. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Mackinac Financial Co. has a fifty-two week low of $14.50 and a fifty-two week high of $17.58.

Mackinac Financial (NASDAQ:MFNC) last released its earnings results on Wednesday, October 31st. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $14.51 million for the quarter, compared to the consensus estimate of $14.30 million. Mackinac Financial had a net margin of 9.09% and a return on equity of 8.77%. On average, equities research analysts predict that Mackinac Financial Co. will post 1.14 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in MFNC. M3F Inc. purchased a new position in Mackinac Financial during the second quarter valued at approximately $3,556,000. Gendell Jeffrey L grew its position in Mackinac Financial by 70.3% during the second quarter. Gendell Jeffrey L now owns 263,772 shares of the financial services provider’s stock valued at $4,373,000 after purchasing an additional 108,860 shares in the last quarter. ELCO Management Co. LLC purchased a new position in Mackinac Financial during the second quarter valued at approximately $340,000. Renaissance Technologies LLC purchased a new position in Mackinac Financial during the second quarter valued at approximately $698,000. Finally, Dimensional Fund Advisors LP grew its position in Mackinac Financial by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 416,291 shares of the financial services provider’s stock valued at $6,902,000 after purchasing an additional 55,832 shares in the last quarter. 43.68% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Mackinac Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. TheStreet downgraded shares of Mackinac Financial from a “b” rating to a “c+” rating in a research report on Friday, August 3rd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $19.00 target price on shares of Mackinac Financial in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

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About Mackinac Financial

Mackinac Financial Corporation operates as the bank holding company for mBank that provides commercial and retail banking products and services in the United States. The company accepts interest bearing and non-interest bearing accounts, such as commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, certificates of deposit, time deposits, and interest bearing transaction accounts.

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