Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services.
Flawless balance sheet and good value.
Share Price & News
How has Macatawa Bank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MCBC has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: MCBC underperformed the US Banks industry which returned 12.1% over the past year.
Return vs Market: MCBC underperformed the US Market which returned 20.1% over the past year.
Price Volatility Vs. Market
How volatile is Macatawa Bank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StMacatawa Bank Corporation Yearly Results: Here's What Analysts Are Forecasting For Next Year
3 weeks ago | Simply Wall StIs Now The Time To Put Macatawa Bank (NASDAQ:MCBC) On Your Watchlist?
1 month ago | Simply Wall StDid Business Growth Power Macatawa Bank's (NASDAQ:MCBC) Share Price Gain of 105%?
Is Macatawa Bank undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MCBC ($10.61) is trading below our estimate of fair value ($14.48)
Significantly Below Fair Value: MCBC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MCBC is good value based on its PE Ratio (11.3x) compared to the Banks industry average (12.6x).
PE vs Market: MCBC is good value based on its PE Ratio (11.3x) compared to the US market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: MCBC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MCBC is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (1.2x).
How is Macatawa Bank forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MCBC's earnings are forecast to decline over the next 3 years (-3.4% per year).
Earnings vs Market: MCBC's earnings are forecast to decline over the next 3 years (-3.4% per year).
High Growth Earnings: MCBC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MCBC's revenue (0.7% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: MCBC's revenue (0.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MCBC's Return on Equity is forecast to be low in 3 years time (12.3%).
How has Macatawa Bank performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MCBC has a high level of non-cash earnings.
Growing Profit Margin: MCBC's current net profit margins (38.2%) are higher than last year (34.4%).
Past Earnings Growth Analysis
Earnings Trend: MCBC's earnings have grown significantly by 22.7% per year over the past 5 years.
Accelerating Growth: MCBC's earnings growth over the past year (21.2%) is below its 5-year average (22.7% per year).
Earnings vs Industry: MCBC earnings growth over the past year (21.2%) exceeded the Banks industry 12.2%.
Return on Equity
High ROE: MCBC's Return on Equity (14.7%) is considered low.
Return on Assets
Return on Capital Employed
How is Macatawa Bank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: MCBC has a low level of unsold assets or inventory.
Debt Coverage by Assets: MCBC's debt is covered by short term assets (assets are 3.5x debt).
Financial Institutions Analysis
Asset Level: MCBC's level of assets compared to its equity is low.
Allowance for Bad Loans: MCBC has a sufficient allowance for bad loans.
Low Risk Liabilities: MCBC's liabilities are made up of primarily low risk sources of funding.
Loan Level: MCBC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MCBC's loans are broadly funded by customer deposits.
Level of Bad Loans: MCBC has an appropriate level of bad loans (0.01%)
What is Macatawa Bank's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: MCBC's dividend (3.02%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: MCBC's dividend (3.02%) is low compared to the top 25% of dividend payers in the US market (3.69%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MCBC has been paying a dividend for less than 10 years.
Growing Dividend: MCBC's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (29.8%), MCBC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MCBC's dividends in 3 years are forecast to be well covered by earnings (43.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ron Haan (65yo)
Mr. Ronald L. Haan, also known as Ron, has been the Chief Executive Officer and President of Macatawa Bank Corporation (the “Company”) since August 2009. Mr. Haan serves as Chairman, President and Chief Ex ...
CEO Compensation Analysis
Compensation vs Market: Ron's total compensation ($USD556.85K) is below average for companies of similar size in the US market ($USD1.68M).
Compensation vs Earnings: Ron's compensation has been consistent with company performance over the past year.
|Senior VP||17.6yrs||US$306.23k||0.35% $1.3m|
|Chief Operating Officer||3yrs||US$367.73k||0.16% $584.7k|
|Senior VP & Chief Retail Banking Officer||18.1yrs||US$276.06k||0.21% $761.3k|
|Senior VP & CTO||0yrs||no data||no data|
|Senior VP & Chief Marketing Officer||0yrs||no data||no data|
|Senior VP & Chief Human Resources Officer||2.5yrs||no data||no data|
|Senior VP & Chief Commercial Banking Officer||0yrs||no data||0.045% $164.1k|
|Senior VP & Chief Wealth Management Officer||0yrs||no data||no data|
|Senior VP & Chief Risk Officer||0yrs||no data||no data|
Experienced Management: MCBC's management team is seasoned and experienced (11 years average tenure).
|Independent Director||9.4yrs||US$40.25k||0.027% $98.4k|
|Independent Chairman of the Board||10.3yrs||no data||4.58% $16.5m|
|Independent Director||10.5yrs||US$43.70k||0.38% $1.4m|
|Independent Director||9.4yrs||US$42.75k||0.34% $1.2m|
|Independent Director||9.3yrs||US$47.25k||0.059% $213.1k|
|Independent Director||9.3yrs||US$45.70k||0.13% $453.2k|
|Independent Director||4.2yrs||US$41.30k||0.014% $50.0k|
Experienced Board: MCBC's board of directors are considered experienced (9.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Macatawa Bank Corporation's company bio, employee growth, exchange listings and data sources
- Name: Macatawa Bank Corporation
- Ticker: MCBC
- Exchange: NasdaqGS
- Founded: 1997
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$361.388m
- Shares outstanding: 34.06m
- Website: https://www.macatawabank.com
Number of Employees
- Macatawa Bank Corporation
- 10753 Macatawa Drive
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MCBC||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Apr 1998|
Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits. Its loan products include commercial and industrial loans comprising loans to finance operations and equipment; commercial real estate loans, which consist of construction and development, and multi-family and other non-residential real estate loans; retail loans, such as residential mortgage loans; and consumer loans, including automobile loans, home equity lines of credit and installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes. The company also offers ATM and debit card processing, cash management, and trust and brokerage services. It serves individuals, businesses, associations, churches, nonprofit organizations, financial institutions, and government authorities through 26 branch offices, as well as a lending and operation service facility in Kent County, Ottawa County, and northern Allegan County, Michigan. Macatawa Bank Corporation was founded in 1997 and is headquartered in Holland, Michigan.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/17 23:44|
|End of Day Share Price||2020/02/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.