Mackinac Financial Corporation (MFNC) Upgraded to “B-” at TheStreet

Mackinac Financial Corporation (NASDAQ:MFNC) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Friday, July 28th.

Separately, ValuEngine raised shares of Mackinac Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.

Mackinac Financial Corporation (NASDAQ MFNC) opened at 14.40 on Friday. The stock has a market cap of $90.63 million, a P/E ratio of 13.11 and a beta of 0.66. Mackinac Financial Corporation has a one year low of $11.00 and a one year high of $14.98. The company’s 50-day moving average price is $14.07 and its 200-day moving average price is $13.78.

Mackinac Financial Corporation (NASDAQ:MFNC) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $10.11 million during the quarter. Mackinac Financial Corporation had a net margin of 14.88% and a return on equity of 8.79%.

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Several institutional investors have recently modified their holdings of MFNC. LSV Asset Management raised its position in shares of Mackinac Financial Corporation by 66.7% in the second quarter. LSV Asset Management now owns 7,500 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,000 shares during the period. Alpine Woods Capital Investors LLC raised its position in shares of Mackinac Financial Corporation by 7.7% in the second quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 1,000 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of Mackinac Financial Corporation by 58.2% in the second quarter. Naples Global Advisors LLC now owns 16,450 shares of the financial services provider’s stock valued at $230,000 after buying an additional 6,050 shares during the last quarter. Context BH Capital Management LP raised its position in shares of Mackinac Financial Corporation 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 last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Mackinac Financial Corporation by 247.5% in the second quarter. Kennedy Capital Management Inc. now owns 104,833 shares of the financial services provider’s stock valued at $1,467,000 after buying an additional 74,668 shares during the last quarter. 28.67% of the stock is currently owned by institutional investors and hedge funds.

About Mackinac Financial Corporation

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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