Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski Sells 4,000 Shares

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $49.51, for a total transaction of $198,040.00. Following the completion of the transaction, the director now owns 25,610 shares of the company’s stock, valued at approximately $1,267,951.10. This trade represents a 13.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mercantile Bank Stock Performance

MBWM opened at $49.10 on Friday. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $51.31. The stock has a market cap of $792.47 million, a PE ratio of 9.86 and a beta of 0.95. The business’s 50 day moving average is $44.44 and its 200-day moving average is $42.43. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio 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 for the quarter, topping the consensus estimate of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The business had revenue of $93.08 million during the quarter, compared to the consensus estimate of $56.83 million. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, analysts predict that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 annualized dividend and a dividend yield of 2.93%. Mercantile Bank’s dividend payout ratio (DPR) is 28.92%.

Institutional Trading of Mercantile Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Mercantile Bank by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock worth $16,484,000 after buying an additional 14,202 shares during the period. Barclays PLC increased its position in shares of Mercantile Bank by 99.2% in the third quarter. Barclays PLC now owns 32,981 shares of the financial services provider’s stock worth $1,441,000 after acquiring an additional 16,423 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Mercantile Bank in the third quarter worth approximately $202,000. Jane Street Group LLC lifted its position in shares of Mercantile Bank by 119.3% in the 3rd quarter. Jane Street Group LLC now owns 29,622 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 16,115 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Mercantile Bank by 0.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 75,720 shares of the financial services provider’s stock worth $3,310,000 after purchasing an additional 400 shares during the period. 58.63% of the stock is owned by institutional investors and hedge funds.

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.