Is Mackinac Financial Corporation (MFNC)’s Fuel Running Low? The Stock Reaches 52-Week High Today

June 14, 2018 - By Christine McCrea

Investors sentiment decreased to 2.2 in 2018 Q1. Its down 1.80, from 4 in 2017Q4. It is negative, as 2 investors sold Mackinac Financial Corporation shares while 3 reduced holdings. 3 funds opened positions while 8 raised stakes. 1.95 million shares or 46.06% less from 3.62 million shares in 2017Q4 were reported.
Blackrock holds 0% or 1,623 shares in its portfolio. Banc Funds Ltd Liability Corporation reported 165,035 shares or 0.14% of all its holdings. Acadian Asset Llc stated it has 1,766 shares or 0% of all its holdings. Deutsche Savings Bank Ag stated it has 7,725 shares or 0% of all its holdings. Fifth Third Comml Bank owns 200 shares. 86,583 were accumulated by Raffles Ltd Partnership. Lsv Asset accumulated 13,800 shares or 0% of the stock. Kennedy Capital Mngmt has invested 0.06% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC). Howe & Rusling Incorporated reported 0% stake. Comml Bank Of America Corp De invested 0% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC). Ativo Cap Mngmt Ltd Liability Co holds 0.29% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC) for 63,817 shares. Moreover, Pnc Incorporated has 0% invested in Mackinac Financial Corporation (NASDAQ:MFNC) for 67,800 shares. Naples Global Advisors Ltd invested 0.08% of its portfolio in Mackinac Financial Corporation (NASDAQ:MFNC). 360,459 are held by Dimensional Fund Advisors L P. Bridgeway Mngmt Incorporated holds 0.01% in Mackinac Financial Corporation (NASDAQ:MFNC) or 29,200 shares.

Since February 16, 2018, it had 0 insider buys, and 2 selling transactions for $54,052 activity. Shares for $12,192 were sold by Deering Jesse A on Tuesday, March 20.

The stock of Mackinac Financial Corporation (NASDAQ:MFNC) hit a new 52-week high and has $17.87 target or 7.00 % above today’s $16.70 share price. The 9 months bullish chart indicates low risk for the $141.73M company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $17.87 price target is reached, the company will be worth $9.92M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.89% or $0.15 during the last trading session, reaching $16.7. About 36,847 shares traded or 141.26% up from the average. Mackinac Financial Corporation (NASDAQ:MFNC) has risen 6.23% since June 14, 2017 and is uptrending. It has underperformed by 6.34% the S&P500.

More recent Mackinac Financial Corporation (NASDAQ:MFNC) news were published by: Globenewswire.com which released: “Mackinac Financial Corporation Announces Commencement of Common Stock Offering” on June 12, 2018. Also Globenewswire.com published the news titled: “Mackinac Financial Corporation Announces Pricing of Common Stock Offering” on June 13, 2018. Globenewswire.com‘s news article titled: “Mackinac Financial Corporation to acquire Lincoln Community Bank (Wisconsin)” with publication date: June 07, 2018 was also an interesting one.

Mackinac Financial Corporation operates as the holding firm for mBank that provides commercial and retail banking services and products in the United States. The company has market cap of $141.73 million. It offers interest bearing and non-interest bearing deposit products, including commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, time deposits, and certificates of deposit. It has a 20.1 P/E ratio. The firm also provides consumer loan products, such as installment, mortgages, and home equity loans, as well as residential mortgage loans, commercial and governmental lease financing, and direct and indirect consumer financing.

Mackinac Financial Corporation (NASDAQ:MFNC) Institutional Positions Chart

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