Mercantile Bank (NASDAQ:MBWM) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Mercantile Bank Co. (NASDAQ:MBWM)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.29 and traded as high as $51.03. Mercantile Bank shares last traded at $49.56, with a volume of 53,333 shares.

Mercantile Bank Stock Performance

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 company has a 50-day moving average of $44.32 and a 200-day moving average of $42.34. The company has a market cap of $792.47 million, a PE ratio of 9.93 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The company had revenue of $93.08 million during the quarter, compared to the consensus estimate of $56.83 million. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. During the same period in the previous year, the firm posted $1.30 EPS. As a group, analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s dividend payout ratio is 28.92%.

Insiders Place Their Bets

In other Mercantile Bank news, Director Michael H. Price sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.57, for a total value of $227,850.00. Following the completion of the transaction, the director now owns 21,556 shares in the company, valued at approximately $982,306.92. This represents a 18.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 5,500 shares of company stock worth $248,920. 3.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercantile Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of MBWM. Gradient Investments LLC bought a new stake in Mercantile Bank in the second quarter worth $28,000. Mattson Financial Services LLC purchased a new stake in Mercantile Bank during the 2nd quarter valued at about $28,000. EMC Capital Management bought a new stake in Mercantile Bank during the 1st quarter valued at about $72,000. Quantbot Technologies LP purchased a new position in Mercantile Bank in the third quarter worth about $89,000. Finally, CWM LLC raised its holdings in Mercantile Bank by 242.6% in the 2nd quarter. CWM LLC now owns 2,799 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,982 shares during the last quarter. Hedge funds and other institutional investors own 58.63% of the company’s stock.

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.