Macatawa Bank Q1 EPS $0.29 Misses $0.30 Estimate
Portfolio Pulse from Benzinga Newsdesk
Macatawa Bank (NASDAQ:MCBC) reported Q1 earnings of $0.29 per share, missing the consensus estimate of $0.30 by 3.33%. This represents a 17.14% decrease from the $0.35 per share earned in the same period last year.
April 25, 2024 | 8:57 pm
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NEGATIVE IMPACT
Macatawa Bank reported a miss on Q1 earnings with $0.29 per share against an estimate of $0.30, showing a 17.14% decrease from last year.
Missing the earnings estimate and reporting a significant year-over-year decrease is likely to negatively impact investor sentiment and could lead to a short-term decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100