Mackinac Financial Co. Plans Quarterly Dividend of $0.12 (MFNC)

Mackinac Financial Co. (NASDAQ:MFNC) announced a quarterly dividend on Wednesday, March 28th, Wall Street Journal reports. Shareholders of record on Tuesday, April 10th will be paid a dividend of 0.12 per share by the financial services provider on Wednesday, April 18th. This represents a $0.48 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, April 9th.

Shares of Mackinac Financial stock opened at $15.80 on Friday. The firm has a market cap of $105.51, a P/E ratio of 13.39 and a beta of 0.48. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.05 and a quick ratio of 1.05. Mackinac Financial has a 1 year low of $13.16 and a 1 year high of $16.80.

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Mackinac Financial (NASDAQ:MFNC) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.33 EPS for the quarter. The company had revenue of $10.98 million for the quarter. Mackinac Financial had a net margin of 11.32% and a return on equity of 9.31%.

In related news, Director Dennis Bittner sold 2,600 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.10, for a total transaction of $41,860.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 24.15% of the company’s stock.

Several analysts have recently issued reports on MFNC shares. ValuEngine upgraded shares of Mackinac Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Hovde Group started coverage on shares of Mackinac Financial in a research report on Tuesday, April 3rd. They issued an “outperform” rating and a $19.00 target price on the stock.

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About Mackinac Financial

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.

Dividend History for Mackinac Financial (NASDAQ:MFNC)

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