Stock MCBC MACATAWA BANK CORPORATION
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Financials Macatawa Bank Corporation

Equities

MCBC

US5542251021

Banks

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
14.24 USD -0.63% Intraday chart for Macatawa Bank Corporation +0.78% +26.24%
Apr. 26 Macatawa Bank Q1 Earnings Decline; Keeps Dividend Steady MT
Apr. 25 Earnings Flash (MCBC) MACATAWA BANK CORPORATION Posts Q1 EPS $0.29 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 379.1 285.4 301.6 377.7 386.8 489.3 -
Enterprise Value (EV) 1 379.1 285.4 301.6 377.7 386.8 489.3 489.3
P/E ratio 11.8 x 9.51 x 10.4 x 10.9 x 8.95 x 11.6 x 11.2 x
Yield 2.52% 3.82% 3.63% 2.9% - 2.53% 2.67%
Capitalization / Revenue 4.56 x 3.34 x 3.78 x 4.19 x 3.65 x 4.6 x 4.44 x
EV / Revenue 4.56 x 3.34 x 3.78 x 4.19 x 3.65 x 4.6 x 4.44 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 1.74 x 1.19 x 1.19 x 1.53 x 1.35 x 1.54 x 1.39 x
Nbr of stocks (in thousands) 34,061 34,101 34,190 34,246 34,291 34,362 -
Reference price 2 11.13 8.370 8.820 11.03 11.28 14.24 14.24
Announcement Date 1/23/20 1/28/21 1/27/22 1/26/23 1/25/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 83.22 85.51 79.76 90.16 105.9 106.3 110.1
EBITDA - - - - - - -
EBIT 1 38.99 39.79 33.67 41.94 54.3 53.72 55.72
Operating Margin 46.85% 46.53% 42.22% 46.51% 51.28% 50.53% 50.59%
Earnings before Tax (EBT) 1 39.44 36.79 35.72 43.06 53.75 52.39 54.34
Net income 1 31.98 30.16 29.01 34.73 43.22 42.18 43.76
Net margin 38.43% 35.28% 36.37% 38.52% 40.82% 39.68% 39.73%
EPS 2 0.9400 0.8800 0.8500 1.010 1.260 1.230 1.275
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.2800 0.3200 0.3200 0.3200 - 0.3600 0.3800
Announcement Date 1/23/20 1/28/21 1/27/22 1/26/23 1/25/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 18.17 17.63 19.97 24.66 27.9 27.14 25.76 26.86 26.12 25.39 26.48 26.85 26.71 26.72 27
EBITDA - - - - - - - - - - - - - - -
EBIT 1 6.835 5.891 8.061 12.53 15.45 14.98 13.09 14.07 12.16 12.14 13.3 13.58 13.56 13 13.31
Operating Margin 37.61% 33.41% 40.36% 50.82% 55.39% 55.18% 50.8% 52.39% 46.55% 47.83% 50.21% 50.58% 50.76% 48.65% 49.3%
Earnings before Tax (EBT) 1 7.585 7.391 8.061 12.53 15.08 14.98 12.79 14.22 11.76 12.14 12.87 13.35 13.38 12.28 12.56
Net income 1 6.216 6 6.568 10.04 12.12 12 10.31 11.41 9.495 9.793 10.33 10.73 10.77 9.943 10.17
Net margin 34.21% 34.03% 32.88% 40.73% 43.43% 44.22% 40.03% 42.49% 36.34% 38.57% 39.02% 39.98% 40.31% 37.21% 37.68%
EPS 2 0.1800 0.1800 0.1900 0.2900 0.3500 0.3500 0.3000 0.3300 0.2800 0.2900 0.3050 0.3100 0.3150 0.2900 0.3000
Dividend per Share 2 0.0800 0.0800 0.0800 0.0800 0.0800 0.0800 0.0800 - - - 0.0900 0.0900 0.0900 0.0900 0.0900
Announcement Date 1/27/22 4/28/22 7/28/22 10/27/22 1/26/23 4/27/23 7/27/23 10/26/23 1/25/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 15.7% 13.2% 11.7% 14.2% 16.4% 14.1% 13.2%
ROA (Net income/ Total Assets) 1.59% 1.27% 1.02% 1.21% 1.6% 1.52% 1.53%
Assets 1 2,011 2,375 2,845 2,870 2,701 2,775 2,869
Book Value Per Share 2 6.380 7.010 7.410 7.200 8.350 9.230 10.20
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 1/23/20 1/28/21 1/27/22 1/26/23 1/25/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Macatawa Bank Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
14.24 USD
Average target price
12.25 USD
Spread / Average Target
-13.97%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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