Macatawa Bank Corp reports results for the quarter ended in June - Earnings Summary

Macatawa Bank

28/07/2022 22:55

* Macatawa Bank Corp  MCBC.OQ  reported quarterly adjusted
earnings of 19 cents​​ per share for the quarter ended in June.
The mean expectation of two analysts for the quarter was
for earnings of 17 cents per share.
    * Revenue fell 3.2% to $19.97 million from a year ago;
analysts
expected $19.27 million. 
    * Macatawa Bank Corp's reported EPS for the quarter was 19
cents​.
    * The mean earnings estimate of analysts had risen by
about 0.6%
in the last three months.​ 
    * In the last 30 days there have been no negative revisions
of
earnings estimates 
    * Macatawa Bank Corp shares had risen by 5.0% this
quarter and
gained 5.2% so far this year.
    * The company reported quarterly net income of $6.57
million.
    * Wall Street's median 12-month price target for Macatawa
Bank
Corp is $9.50 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 

This summary was machine generated from Refinitiv data July 28
at 09:54 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2022      0.17           0.19           Beat
 Mar. 31 2022      0.16           0.18           Beat
 Dec. 31 2021      0.19           0.18           Missed
 Sep. 30 2021      0.22           0.21           Missed