Mackinac Financial (MFNC) Lifted to Buy at ValuEngine

Mackinac Financial (NASDAQ:MFNC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Mackinac Financial (MFNC) opened at $15.90 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11. Mackinac Financial has a 52-week low of $12.78 and a 52-week high of $16.80. The company has a market cap of $100.09, a price-to-earnings ratio of 13.95 and a beta of 0.60.

Mackinac Financial (NASDAQ:MFNC) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.33 EPS for the quarter. Mackinac Financial had a net margin of 15.17% and a return on equity of 9.06%. The firm had revenue of $10.94 million during the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of MFNC. Kennedy Capital Management Inc. lifted its holdings in shares of Mackinac Financial by 247.5% during the second quarter. Kennedy Capital Management Inc. now owns 104,833 shares of the financial services provider’s stock worth $1,467,000 after buying an additional 74,668 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Mackinac Financial by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 327,394 shares of the financial services provider’s stock valued at $4,580,000 after buying an additional 9,516 shares during the period. Clarkston Capital Partners LLC lifted its stake in Mackinac Financial by 1.9% in the third quarter. Clarkston Capital Partners LLC now owns 191,419 shares of the financial services provider’s stock valued at $2,967,000 after buying an additional 3,654 shares during the period. LSV Asset Management lifted its stake in Mackinac Financial by 66.7% in the second quarter. LSV Asset Management now owns 7,500 shares of the financial services provider’s stock valued at $105,000 after buying an additional 3,000 shares during the period. Finally, Context BH Capital Management LP lifted its stake in Mackinac Financial by 1.1% in the second quarter. Context BH Capital Management LP now owns 26,448 shares of the financial services provider’s stock valued at $370,000 after buying an additional 300 shares during the period. 28.40% of the stock is owned by institutional investors.

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Mackinac Financial Company Profile

Mackinac Financial Corporation is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank provides a range of loan and deposit products. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing.

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