Mackinac Financial Corporation (Nasdaq:MFNC)
December 6th, 2018
Mackinac Financial Corporation finished Thursday’s trading session down 2.77%, a $0.39 decrease to close on $13.71. Sadly, in addition to dropping MFNC ended up closing the day at a new 52 week low.As well as the drop in value, Mackinac Financial Corporation hit a new 52 week low of $13.71, breaking the previous low of $14.22 from earlier this month. In addition to the stock finishing lower, the trading volumes were only 40% of normal which could be an indication of investor uncertainty.
MFNC was outperformed by the rest of the Financials sector which went down only 1.44%.
Expectations from 2 analysts suggest that Mackinac Financial Corporation might go up significantly (35%), while Finbox has calculated (with high uncertainty) a fair value price of $11.79.
The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector falling 12%.
Communication Services saw the biggest turnaround from its 5-day performance of -1.28%, as it went up 1.04%. Utilities saw a turn around from its 5-day performance of 2.33% trading down 0.10%.
- Real Estate went up with a 2.66% change.
- Communication Services went up with a 1.04% change.
- Consumer Discretionary went up with a 0.61% change.
- Information Technology went up with a 0.23% change.
- Utilities went down with a -0.10% change.
- Consumer Staples went down with a -0.10% change.
- Healthcare went down with a -0.31% change.
- Industrials went down with a -0.55% change.
- Materials went down with a -1.36% change.
- Financials went down with a -1.44% change.
- Energy went down with a -1.77% change.
Mackinac Financial Corporation is based in Manistique, United States of America. Mackinac Financial Corporation was founded in 1974.
Mackinac Financial Corporation Info
Mackinac Financial Corporation operates as the bank holding company for mBank that provides commercial and retail banking products and services in the United States. The company accepts interest bearing and non-interest bearing accounts, such as commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, certificates of deposit, time deposits, and interest bearing transaction accounts. Its loan products include provides commercial loans to entities within real estate — operators of nonresidential buildings industry; consumer loan products comprising installment, mortgages, and home equity loans, as well as residential mortgage loans; and commercial and governmental lease financing. The company also offers safe deposit facilities. As of March 27, 2018, it operated 12 branches in the Upper Peninsula; 4 branches in the Northern Lower Peninsula; 1 branch in Oakland County, Michigan; and 7 branches in northern Wisconsin. The company was formerly known as North Country Financial Corporation and changed its name to Mackinac Financial Corporation in December 2004. Mackinac Financial Corporation was incorporated in 1974 and is headquartered in Manistique, Michigan.
All amounts in USD unless otherwise indicated
Media Gazelle Inc (MG), a Nevada Corporation, owns and operates the online brand US Tribune News. MG does not offer financial advise, and is not a registered broker/dealer/analyst/adviser, holds no investment licenses, and may not sell, offer to sell or offer to buy any security. MG’s market updates, news are not a solicitation or recommendation to buy, sell or hold securities. MG shall not be held liable for any investment losses you may incur by using the information provided, this includes you trading the stocks mentioned on our sites. We recommend you talk to a financial adviser before trading any securities or taking any action based upon information on this site. MG does not guarantee the accuracy of the article.