Mackinac Financial Corporation (NASDAQ:MFNC) has a beta value of 0.95 and has seen 12,446,121 shares traded in the recent trading session. The company, currently valued at $223.67 Million, closed the recent trade at $20.25 per share which meant it gained $7.08 on the day or 53.75% during that session. The MFNC stock price is -8.4% off its 52-week high price of $21.95 and 60.1% above the 52-week low of $8.08. If we look at the company’s 10-day average daily trading volume, we find that it stood at 66.42 Million shares traded. The 3-month trading volume is 25.4 Million shares.
The consensus among analysts is that Mackinac Financial Corporation (MFNC) is a Hold stock at the moment, with a recommendation rating of 2.5. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 1 have rated it as a Hold, with no one of them advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.3.
Mackinac Financial Corporation (NASDAQ:MFNC) trade information
Sporting 53.75% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Apr 13 when the MFNC stock price touched $21.95- or saw a rise of 7.78%. Year-to-date, Mackinac Financial Corporation shares have moved 58.64%, while the 5-day performance has seen it change 45.52%. Over the past 30 days, the shares of Mackinac Financial Corporation (NASDAQ:MFNC) have changed 38.27%. Short interest in the company has seen 130.42 Million shares shorted with days to cover at 5.13.
Wall Street analysts have a consensus price target for the stock at $14, which means that the shares’ value could jump -30.86% from the levels at last check today. The projected low price target is $14 while the price target rests at a high of $14. In that case, then, we find that the latest price level in today’s session is -30.86% off the targeted high while a plunge would see the stock lose -30.86% from the levels at last check today.
Mackinac Financial Corporation (MFNC) estimates and forecasts
2 analysts offering their estimates for the company have set an average revenue estimate of $15.82 Million for the current quarter. 2 have an estimated revenue figure of $14.97 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $14.41 Million for this quarter, and analysts expect sales will grow by 9.8% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +7.4% over the past 5 years. Earnings growth for 2021 is a modest -1.1% while over the next 5 years, the company’s earnings are expected to increase by 10%.
Mackinac Financial Corporation is expected to release its next earnings report between January 28 and January 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.56 at a share yield of 4.09%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 3.55%.
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Mackinac Financial Corporation (NASDAQ:MFNC)’s Major holders
Insiders own 6.39% of the company shares, while shares held by institutions stand at 61.26% with a share float percentage of 65.44%. Investors are also buoyed by the number of investors in a company, with Mackinac Financial Corporation having a total of 97 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 537.2 Thousand shares worth more than $6.85 Million. As of December 30, 2020, Blackrock Inc. held 5.09% of shares outstanding.
The other major institutional holder is EJF Capital LLC, with the holding of over 525Thousand shares as of December 30, 2020. The firm’s total holdings are worth over $6.7 Million and represent 4.98% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are John Hancock Regional Bank Fund (Investors Tr) and iShares Russell 2000 ETF. As of February 27, 2021, the former fund manager holds about 2.93% shares in the company for having 309314 shares of worth $3.99 Million while later fund manager owns 266.32 Thousand shares of worth $3.44 Million as of February 27, 2021, which makes it owner of about 2.52% of company’s outstanding stock.