Recent extremely meaningful positive changes in investment behavior have benefitted Macatawa Bank Corp (NASDAQ: MCBC): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
Macatawa Bank Corp (NASDAQ: MCBC) has recently enjoyed slight positive changes in fundamentals: significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, MCBC is expected to continue to be a Value Builder.
Macatawa Bank has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Macatawa Bank has a slightly positive Appreciation Score of 69 and a good Power Rating of 70, resulting in the Positive Value Trend Rating.
Recent Price Action
Macatawa Bank Corp (NASDAQ: MCBC) stock rose slightly by 0.1% on 4/17/24. The stock closed at $13.69. Moreover, this advance was accompanied by exceptionally high trading volume at 404% of normal. The stock has been strong relative to the market over the last nine months and has risen 41.1% during the last week.
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