KBW analyst Damon Delmonte maintained a Hold rating on Macatawa Bank (MCBC – Research Report) yesterday and set a price target of $12.00. The company’s shares closed yesterday at $14.33.
Delmonte covers the Financial sector, focusing on stocks such as Financial Institutions, Heartland Financial USA, and Macatawa Bank. According to TipRanks, Delmonte has an average return of 16.3% and a 70.08% success rate on recommended stocks.
Currently, the analyst consensus on Macatawa Bank is a Hold with an average price target of $12.00.
Based on Macatawa Bank’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $25.39 million and a net profit of $9.79 million. In comparison, last year the company earned a revenue of $27.14 million and had a net profit of $12 million
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Macatawa Bank (MCBC) Company Description:
Macatawa Bank Corp. operates as a holding company, which engages in the provision of financial services. The company offers a range of commercial and personal banking services. It also includes checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans, internet and telephone banking, and debit cards. The company was founded in 1997 and is headquartered in Holland, MI.
