Notable Stock News to Watch: Mackinac Financial Corporation (NASDAQ:MFNC)

Mackinac Financial Corporation (NASDAQ:MFNC) stock revealed change of 43.56% away from 52-week low price and recently located move of -47.27% off 52-week high price. It has market worth of $100.34M and dividend yield of 5.98%. MFNC stock has been recorded -3.11% away from 50 day moving average and -20.76% away from 200 day moving average. Moving closer, we can see that shares have been trading -5.27% off 20-day moving average.

On Sept. 21, 2020, Mackinac Financial Corporation (NASDAQ:MFNC) the bank holding company for mBank (the Bank), declared the approval of a cash dividend by its Board of Directors on September 21, 2020. The Board of Directors declared a cash dividend of $.14 per common share for the third quarter of 2020, payable October 12, 2020 to shareholders of record at October 1, 2020. The dividend is unchanged from the prior quarter’s dividend.

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $1.5 billion and whose common stock is traded on the NASDAQ stock market as MFNC. The principal subsidiary of the Corporation is mBank. Headquartered in Manistique, Michigan, mBank has 29 branch locations; eleven in the Upper Peninsula, ten in the Northern Lower Peninsula, one in Oakland County, Michigan, and seven in Northern Wisconsin. The Company’s banking services include commercial lending and treasury management products and services geared toward small to mid-sized businesses, as well as a full array of personal and business deposit products and consumer loans.

The Financial sector company, Mackinac Financial Corporation noticed change of -5.74% to $9.36 along volume of 29079 shares in recent session compared to an average volume of 16.69K shares. The stock observed return of -3.80% in 5 days trading activity. The stock was at -4.49% over one month performance. MFNC’s shares are at -8.33% for the quarter and driving a -40.95% return over the course of the past year and is now at -46.39% since this point in 2018.

The average volatility for the week at 5.84% and for month was at 4.49%. There are 10.53M shares outstanding and 9.90M shares are floated in market. Right now the stock beta is 0.76.