On Wednesday Mackinac Financial Corporation (Nasdaq:MFNC) Closed At A New 52 Week Low of $14.10

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Mackinac Financial Corporation (Nasdaq:MFNC)

December 5th, 2018
Amidst falling markets Mackinac Financial Corporation fell $0.68 Tuesday which equals a 4.60% drop, closing at $14.10. 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 $14.10.

MFNC was outperformed by the rest of the Financials sector which went down just 4.40%.

Analysis results from 2 analysts indicates that Mackinac Financial Corporation might increase significantly (29%), while Finbox has calculated (with high uncertainty) a fair value price of $11.89.

Market Sectors

The market sectors were mixed Wednesday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.15%), while Financials saw the biggest drop (4.40%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector dropping 13%.

Utilities saw the biggest turnaround from its 5-day performance of 2.31%, as it went up 0.15%. Industrials and Consumer Discretionary experienced turn arounds from their five day positive performance, Industrials with a drop of 4.35%.

Sector Breakdown

  • Utilities went up with a 0.15% change.
  • Real Estate went down with a -1.26% change.
  • Consumer Staples went down with a -1.63% change.
  • Healthcare went down with a -2.30% change.
  • Energy went down with a -2.93% change.
  • Materials went down with a -3.08% change.
  • Communication Services went down with a -3.14% change.
  • Information Technology went down with a -3.86% change.
  • Consumer Discretionary went down with a -3.91% change.
  • Industrials went down with a -4.35% change.
  • Financials went down with a -4.40% 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

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MFNC daily update


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