Macatawa Bank Corporation June 15th Short Interest Update

Macatawa Bank Corporation (NASDAQ:MCBC) stated loss of 2,182 shares or 0.9% in the short interest. The short interest registered from 256,472 on May 31,2016 to 254,290 on June 15,2016. In terms of floated shares, the shorted positions stood at 1%. The stock has been averaging 62,132 shares daily in trading and would need 4 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Macatawa Bank Corporation (NASDAQ:MCBC): The stock opened at $6.54 on Friday but the bulls could not build on the opening and the stock topped out at $7.01 for the day. The stock traded down to $6.54 during the day, due to lack of any buying support eventually closed down at $6.77 with a loss of -1.88% for the day. The stock had closed at $6.90 on the previous day. The total traded volume was 2,444,208 shares.

The company shares have rallied 28.22% from its 1 Year high price. On Jun 1, 2016, the shares registered one year high at $7.82 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $7.02 and the 200 Day Moving Average price is recorded at $6.40.

Stocks of Macatawa Bank Corporation (NASDAQ:MCBC) rallied by 1.35% during the past week but lost 5.84% on a 4-week basis. The company has outperformed the S&P 500 by 3.03% in the past week but underperformed the index by 2.99% in the last 4 weeks.

Macatawa Bank Corporation is a bank holding company for Macatawa Bank. Through the Companys 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.

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