Stock Worth Watching: Mackinac Financial Corp (NASDAQ:MFNC) Move Up as Institutional Investors’ Sentiment Increased

November 18, 2016 - By Dolores Ford   ·   0 Comments

Stock Worth Watching: Mackinac Financial Corp (NASDAQ:MFNC) Move Up as Institutional Investors' Sentiment  Increased

Sentiment for Mackinac Financial Corp (NASDAQ:MFNC)

Mackinac Financial Corp (NASDAQ:MFNC) institutional sentiment decreased to 1.2 in 2016 Q2. Its down -0.47, from 1.67 in 2016Q1. The ratio has dropped, as 10 hedge funds increased or started new equity positions, while 6 sold and reduced their stakes in Mackinac Financial Corp. The hedge funds in our partner’s database now possess: 1.80 million shares, up from 1.73 million shares in 2016Q1. Also, the number of hedge funds holding Mackinac Financial Corp in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 2 Reduced: 4 Increased: 5 New Position: 5.

Mackinac Financial Corporation is a bank holding Company of mBank . The company has a market cap of $80.31 million. The Company, through the Bank, is engaged in the general commercial banking business. It has a 18.27 P/E ratio. The Bank provides a range of loan and deposit products.

About 775 shares traded hands. Mackinac Financial Corporation (NASDAQ:MFNC) has risen 24.93% since April 18, 2016 and is uptrending. It has outperformed by 20.50% the S&P500.

According to Zacks Investment Research, “NORTH COUNTRY’s mission is to serve their trading area with quality financial services and products.”

Raffles Associates Lp holds 1.06% of its portfolio in Mackinac Financial Corporation for 94,600 shares. Banc Funds Co Llc owns 513,238 shares or 0.33% of their US portfolio. Moreover, Gendell Jeffrey L has 0.12% invested in the company for 51,693 shares. The Michigan-based Telemus Capital Llc has invested 0.06% in the stock. Clarkston Capital Partners Llc, a Michigan-based fund reported 82,691 shares.#img1#

MFNC Company Profile

Mackinac Financial Corporation, incorporated on December 6, 1974, is a bank holding Company of mBank (the Bank). The Company, through the Bank, is engaged in the general commercial banking business. The Bank is engaged in providing a range of loan and deposit products. The Bank has over 13 branch offices located in the Upper Peninsula of Michigan and four branch offices located in Michigan’s Lower Peninsula. The Bank has activities in Chippewa, Grand Traverse, Luce, Manistee, Marquette, Menominee, Oakland, Otsego and Schoolcraft Counties. The Bank provides drive-in convenience at approximately 12 branch locations and has over 22 automated teller machines (ATM). The Company’s 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.

More recent Mackinac Financial Corporation (NASDAQ:MFNC) news were published by: Reuters.com which released: “BRIEF-Mackinac Financial Corporation Q3 earnings per share $0.28” on November 03, 2016. Also Money.Cnn.com published the news titled: “Mackinac Financial Corporation to acquire First National Bank of Eagle River (WI)” on January 19, 2016. Marketwired.com‘s news article titled: “Mackinac Financial Corporation to Acquire Niagara Bancorporation (Wisconsin)” with publication date: May 24, 2016 was also an interesting one.

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By Dolores Ford


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