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

Macatawa Bank

26/10/2023 22:35

* Macatawa Bank Corp  MCBC.OQ  reported quarterly adjusted
earnings of 33 cents​​ per share for the quarter ended in
September. The mean expectation of three analysts for the
quarter was for earnings of 31 cents per share.
    * Revenue rose 2.7% to $25.33 million from a year ago;
analysts
expected $26.40 million. 
    * Macatawa Bank Corp's reported EPS for the quarter was 33
cents​.
    * The mean earnings estimate of analysts had fallen by
about 7.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate 
    * Macatawa Bank Corp shares had fallen by 6.9% this
quarter and
lost 24.4% so far this year.
    * The company reported quarterly net income of $11.41
million.
    * Wall Street's median 12-month price target for Macatawa
Bank
Corp is $11.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
October 26 at 09:34 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.31           0.33           Beat
 Jun. 30 2023      0.33           0.30           Missed
 Mar. 31 2023      0.33           0.35           Beat
 Dec. 31 2022      0.33           0.35           Beat