3 Stocks Pushing The Banking Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Banking industry as a whole closed the day down 0.9% versus the S&P 500, which was down 1.5%. Laggards within the Banking industry included Oak Valley Bancorp ( OVLY), down 1.9%, New Century Bancorp ( NCBC), down 2.4%, Jacksonville Bancorp ( JAXB), down 8.1%, Mackinac Financial ( MFNC), down 2.6% and Citizens ( CIZN), down 3.0%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Citizens ( CIZN) is one of the companies that pushed the Banking industry lower today. Citizens was down $0.57 (3.0%) to $18.61 on average volume. Throughout the day, 1,425 shares of Citizens exchanged hands as compared to its average daily volume of 1,700 shares. The stock ranged in price between $18.61-$18.65 after having opened the day at $18.61 as compared to the previous trading day's close of $19.18.

Citizens Holding Company operates as the bank holding company for The Citizens Bank of Philadelphia that provides commercial and personal banking products and services in Mississippi, the United States. Citizens has a market cap of $91.3 million and is part of the financial sector. Shares are up 0.6% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates Citizens as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, expanding profit margins, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from TheStreet Ratings analysis on CIZN go as follows:

  • The revenue growth came in higher than the industry average of 12.7%. Since the same quarter one year prior, revenues slightly increased by 4.9%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The gross profit margin for CITIZENS HOLDING CO is currently very high, coming in at 90.92%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 20.10% is above that of the industry average.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 30.5% when compared to the same quarter one year prior, rising from $1.60 million to $2.09 million.
  • CITIZENS HOLDING CO has improved earnings per share by 30.3% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, CITIZENS HOLDING CO increased its bottom line by earning $1.47 versus $1.39 in the prior year.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, CITIZENS HOLDING CO has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.

You can view the full analysis from the report here: Citizens Ratings Report

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At the close, Mackinac Financial ( MFNC) was down $0.29 (2.6%) to $11.00 on light volume. Throughout the day, 391 shares of Mackinac Financial exchanged hands as compared to its average daily volume of 2,900 shares. The stock ranged in price between $10.86-$11.00 after having opened the day at $10.86 as compared to the previous trading day's close of $11.29.

Mackinac Financial Corporation operates as the holding company for mBank that provides commercial and retail banking products and services. Mackinac Financial has a market cap of $60.8 million and is part of the financial sector. Shares are up 14.0% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates Mackinac Financial as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and weak operating cash flow.

Highlights from TheStreet Ratings analysis on MFNC go as follows:

  • Compared to its closing price of one year ago, MFNC's share price has jumped by 26.51%, exceeding the performance of the broader market during that same time frame. Although MFNC had significant growth over the past year, our hold rating indicates that we do not recommend additional investment in this stock at the current time.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 12.7%. Since the same quarter one year prior, revenues slightly dropped by 3.4%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • MACKINAC FINANCIAL CORP's earnings per share declined by 36.4% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern earnings per share over the past two years. During the past fiscal year, MACKINAC FINANCIAL CORP reported lower earnings of $1.00 versus $1.66 in the prior year.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Commercial Banks industry. The net income has significantly decreased by 36.0% when compared to the same quarter one year ago, falling from $1.26 million to $0.81 million.

You can view the full analysis from the report here: Mackinac Financial Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

New Century Bancorp ( NCBC) was another company that pushed the Banking industry lower today. New Century Bancorp was down $0.19 (2.4%) to $7.41 on average volume. Throughout the day, 3,176 shares of New Century Bancorp exchanged hands as compared to its average daily volume of 3,500 shares. The stock ranged in price between $7.02-$7.44 after having opened the day at $7.44 as compared to the previous trading day's close of $7.60.

New Century Bancorp has a market cap of $46.8 million and is part of the financial sector. Shares are up 13.9% year-to-date as of the close of trading on Monday. Currently there is 1 analyst who rates New Century Bancorp a buy, no analysts rate it a sell, and none rate it a hold.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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