Mackinac Financial
Market Cap
US$147.5m
Last Updated
2021/01/15 23:12 UTC
Data Sources
Company Financials +
Executive Summary
Mackinac Financial Corporation operates as the bank holding company for mBank that provides commercial and retail banking products and services in the United States. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 14.9% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet, good value and pays a dividend.
Similar Companies
Share Price & News
How has Mackinac Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MFNC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MFNC's weekly volatility has decreased from 12% to 5% over the past year.
Market Performance
7 Day Return
2.6%
MFNC
0.8%
US Banks
-0.9%
US Market
1 Year Return
-18.3%
MFNC
-7.3%
US Banks
19.6%
US Market
Return vs Industry: MFNC underperformed the US Banks industry which returned -4.2% over the past year.
Return vs Market: MFNC underperformed the US Market which returned 21% over the past year.
Shareholder returns
| MFNC | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.6% | 0.8% | -0.9% |
| 30 Day | 6.4% | 12.0% | 3.0% |
| 90 Day | 25.3% | 38.4% | 11.5% |
| 1 Year | -13.9%-18.3% | -3.9%-7.3% | 22.3%19.6% |
| 3 Year | -7.3%-17.5% | 1.6%-7.1% | 45.3%35.7% |
| 5 Year | 49.7%24.6% | 87.6%63.8% | 124.8%99.9% |
Long-Term Price Volatility Vs. Market
How volatile is Mackinac Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
21 hours ago | Simply Wall St
Did You Participate In Any Of Mackinac Financial's (NASDAQ:MFNC) Respectable 48% Return?3 weeks ago | Simply Wall St
Be Sure To Check Out Mackinac Financial Corporation (NASDAQ:MFNC) Before It Goes Ex-Dividend1 month ago | Simply Wall St
How Much Of Mackinac Financial Corporation (NASDAQ:MFNC) Do Insiders Own?Valuation
Is Mackinac Financial undervalued compared to its fair value and its price relative to the market?
11.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MFNC ($13.43) is trading below our estimate of fair value ($15.12)
Significantly Below Fair Value: MFNC is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MFNC is good value based on its PE Ratio (10.9x) compared to the US Banks industry average (12.3x).
PE vs Market: MFNC is good value based on its PE Ratio (10.9x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: MFNC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MFNC is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1x).
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Future Growth
How is Mackinac Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-14.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MFNC's earnings are forecast to decline over the next 3 years (-14.9% per year).
Earnings vs Market: MFNC's earnings are forecast to decline over the next 3 years (-14.9% per year).
High Growth Earnings: MFNC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MFNC's revenue is expected to decline over the next 3 years (-1.8% per year).
High Growth Revenue: MFNC's revenue is forecast to decline over the next 3 years (-1.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MFNC's Return on Equity is forecast to be low in 3 years time (6.6%).
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Past Performance
How has Mackinac Financial performed over the past 5 years?
28.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MFNC has high quality earnings.
Growing Profit Margin: MFNC's current net profit margins (20.9%) are lower than last year (23.5%).
Past Earnings Growth Analysis
Earnings Trend: MFNC's earnings have grown significantly by 28.2% per year over the past 5 years.
Accelerating Growth: MFNC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MFNC had negative earnings growth (-5.7%) over the past year, making it difficult to compare to the Banks industry average (-4.4%).
Return on Equity
High ROE: MFNC's Return on Equity (7.9%) is considered low.
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Financial Health
How is Mackinac Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: MFNC's Assets to Equity ratio (9.2x) is low.
Allowance for Bad Loans: MFNC has a sufficient allowance for bad loans (108%).
Low Risk Liabilities: 94% of MFNC's liabilities are made up of primarily low risk sources of funding.
Loan Level: MFNC has an appropriate level of Loans to Assets ratio (75%).
Low Risk Deposits: MFNC's Loans to Deposits ratio (89%) is appropriate.
Level of Bad Loans: MFNC has an appropriate level of bad loans (0.5%).
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Dividend
What is Mackinac Financial current dividend yield, its reliability and sustainability?
4.17%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MFNC's dividend (4.17%) is higher than the bottom 25% of dividend payers in the US market (1.38%).
High Dividend: MFNC's dividend (4.17%) is in the top 25% of dividend payers in the US market (3.84%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MFNC has been paying a dividend for less than 10 years.
Growing Dividend: MFNC's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (45.4%), MFNC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MFNC's dividends in 3 years are forecast to be covered by earnings (60.7% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
14.2yrs
Average management tenure
CEO
Paul Tobias (69 yo)
16.08yrs
Tenure
US$758,812
Compensation
Mr. Paul D. Tobias has been the Chairman and Chief Executive Officer at Mackinac Financial Corporation since December 16, 2004. Mr. Tobias has been the Chairman of mBank since December 16, 2004. He is a ve...
CEO Compensation Analysis
Compensation vs Market: Paul's total compensation ($USD758.81K) is above average for companies of similar size in the US market ($USD539.30K).
Compensation vs Earnings: Paul's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 16.08yrs | US$758.81k | 1.67% $ 2.5m | |
| President & Director | 15yrs | US$823.81k | 0.93% $ 1.4m | |
| Executive VP & CFO | 4.42yrs | US$490.37k | 0.25% $ 372.5k |
14.2yrs
Average Tenure
52yo
Average Age
Experienced Management: MFNC's management team is seasoned and experienced (14.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 16.08yrs | US$758.81k | 1.67% $ 2.5m | |
| President & Director | 15yrs | US$823.81k | 0.93% $ 1.4m | |
| Independent Lead Director | no data | US$54.15k | 0.32% $ 477.7k | |
| Independent Director | 2.67yrs | US$43.40k | 0.46% $ 683.1k | |
| Independent Director | 20yrs | US$46.15k | 0.048% $ 71.4k | |
| Independent Director | 16.08yrs | US$48.65k | 0.34% $ 494.4k | |
| Independent Director | 16.08yrs | US$44.40k | 0.37% $ 541.0k | |
| Independent Director | 8.42yrs | US$46.65k | 10.08% $ 14.9m | |
| Independent Director | 14yrs | US$44.40k | 0.87% $ 1.3m | |
| Director | 13yrs | US$47.65k | 0.28% $ 419.7k |
15.0yrs
Average Tenure
67yo
Average Age
Experienced Board: MFNC's board of directors are seasoned and experienced ( 15 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MFNC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Mackinac Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mackinac Financial Corporation
- Ticker: MFNC
- Exchange: NasdaqCM
- Founded: 1974
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$147.470m
- Shares outstanding: 10.53m
- Website: https://www.bankmbank.com
Number of Employees
Location
- Mackinac Financial Corporation
- 130 South Cedar Street
- Manistique
- Michigan
- 49854
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MFNC | NasdaqCM (Nasdaq Capital Market) | Yes | Common Stock | US | USD | Feb 2000 |
Biography
Mackinac Financial Corporation operates as the bank holding company for mBank that provides commercial and retail banking products and services in the United States. It offers interest bearing and non-inte...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/15 23:12 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.