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

Macatawa Bank

27/04/2023 23:02

* Macatawa Bank Corp  MCBC.OQ  reported quarterly adjusted
earnings of 35 cents​​ per share for the quarter ended in March.
The mean expectation of two analysts for the quarter was
for earnings of 33 cents per share.
    * Revenue rose 67.3% to $27.14 million from a year ago;
analysts
expected $27.27 million. 
    * Macatawa Bank Corp's reported EPS for the quarter was 35
cents​.
    * The mean earnings estimate of analysts had risen by
about 2.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate 
    * Macatawa Bank Corp shares had fallen by 8.7% this
quarter and
lost 15.4% so far this year.
    * The company reported quarterly net income of $12 million.
    * Wall Street's median 12-month price target for Macatawa
Bank
Corp is $11.25 
    * 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 LSEG Refinitiv data
April 27 at 10:02 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2023      0.33           0.35           Beat
 Dec. 31 2022      0.33           0.35           Beat
 Sep. 30 2022      0.24           0.29           Beat
 Jun. 30 2022      0.17           0.19           Beat