Macatawa Bank Corp (NASDAQ: MCBC) stock enjoyed a major increase of 37.7% on 4/16/24. The shares closed at $13.67. Moreover, exceptionally high trading volume at 1875% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 40.9% during the last week.
Current PriceTarget Research Rating
MCBC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Macatawa Bank has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Macatawa Bank has a slightly positive Appreciation Score of 69 and a good Power Rating of 70, with the Positive Value Trend Rating the result.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
Be the first to comment