Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski Sells 3,000 Shares

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of Mercantile Bank stock in a transaction on Friday, January 24th. The stock was sold at an average price of $49.14, for a total transaction of $147,420.00. Following the transaction, the director now owns 16,810 shares in the company, valued at approximately $826,043.40. This trade represents a 15.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mercantile Bank Trading Down 2.7 %

Mercantile Bank stock traded down $1.36 during trading hours on Tuesday, reaching $48.73. 79,757 shares of the company’s stock were exchanged, compared to its average volume of 72,092. The firm’s 50 day simple moving average is $47.00 and its 200 day simple moving average is $45.61. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $52.98. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $786.99 million, a PE ratio of 9.84 and a beta of 1.01.

Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. Research analysts predict that Mercantile Bank Co. will post 4.68 earnings per share for the current year.

Mercantile Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.36. Mercantile Bank’s dividend payout ratio is 29.09%.

Institutional Trading of Mercantile Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBWM. Mattson Financial Services LLC bought a new position in Mercantile Bank in the second quarter worth approximately $28,000. Quantbot Technologies LP acquired a new position in shares of Mercantile Bank during the third quarter worth approximately $89,000. CWM LLC lifted its holdings in shares of Mercantile Bank by 16.1% in the 3rd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 450 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Mercantile Bank in the 3rd quarter valued at $202,000. Finally, 626 Financial LLC acquired a new position in Mercantile Bank during the third quarter worth $213,000. 58.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MBWM shares. Keefe, Bruyette & Woods upped their price target on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research report on Wednesday, January 22nd.

Mercantile Bank Company Profile

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.