Macatawa Bank Corporation (MCBC) is Initiated by Hovde Group to Market Perform, Price Target at $7.75

Macatawa Bank Corporation (MCBC) was Initiated by Hovde Group to “Market Perform” and the brokerage firm has set the Price Target at $7.75. Hovde Group advised their investors in a research report released on May 25, 2016.

Macatawa Bank Corporation opened for trading at $7.05 and hit $7.13 on the upside on Friday, eventually ending the session at $7, with a gain of 0.14% or 0.01 points. The heightened volatility saw the trading volume jump to 44,088 shares. Company has a market cap of $237,475 M.

In a different news, on Feb 10, 2016, Mark Bugge (director) purchased 1,000 shares at $5.72 per share price. According to the SEC, on Feb 3, 2016, Roy Michael K. Le (director) purchased 1,000 shares at $5.74 per share price. On Jan 5, 2016, Robert L Herr (director) sold 25 shares at $5.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Macatawa Bank Corporation is a bank holding company for Macatawa Bank. Through the Company’s wholly-owned subsidiary Macatawa Bank it offers a range of commercial and personal banking services including checking savings and certificates of deposit accounts cash management safe deposit boxes trust services and commercial mortgage and consumer loans. The Company also offers automated teller machines (ATMs) Internet banking telephone banking and debit cards. The Bank provides various brokerage services including discount brokerage through Infinex personal financial planning and consultation regarding mutual funds. The Company offers personal trust services include financial planning investment management services trust and estate administration and custodial services.

Macatawa Bank Corporation

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