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

Macatawa Bank

27/10/2022 22:50

* Macatawa Bank Corp  MCBC.OQ  reported quarterly adjusted
earnings of 29 cents​​ per share for the quarter ended in
September. The mean expectation of two analysts for the quarter
was for earnings of 24 cents per share.
    * Revenue rose 23.7% to $24.66 million from a year ago;
analysts
expected $22.18 million. 
    * Macatawa Bank Corp's reported EPS for the quarter was 29
cents​.
    * The mean earnings estimate of analysts had risen by
about 10.5%
in the last three months.​ 
    * In the last 30 days there have been no earnings estimate
revisions by analysts covering the company. 
    * Macatawa Bank Corp shares had risen by 8.0% this
quarter and
gained 13.4% so far this year.
    * The company reported quarterly net income of $10.05
million.
    * Wall Street's median 12-month price target for Macatawa
Bank
Corp is $10.25 
    * 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 Refinitiv data October
27 at 09:49 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2022      0.24           0.29           Beat
 Jun. 30 2022      0.17           0.19           Beat
 Mar. 31 2022      0.16           0.18           Beat
 Dec. 31 2021      0.19           0.18           Missed