Robert B. Kaminski Sells 5,800 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $51.75, for a total transaction of $300,150.00. Following the completion of the transaction, the director now owns 19,810 shares of the company’s stock, valued at $1,025,167.50. This represents a 22.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mercantile Bank Stock Down 0.9 %

NASDAQ:MBWM opened at $50.05 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $807.81 million, a P/E ratio of 10.05 and a beta of 0.95. The company’s 50-day simple moving average is $45.44 and its 200-day simple moving average is $43.12. Mercantile Bank Co. has a fifty-two week low of $33.46 and a fifty-two week high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. The business had revenue of $93.08 million for the quarter, compared to analyst estimates 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 company earned $1.30 earnings per share. On average, equities analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.

Mercantile Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s dividend payout ratio is currently 28.92%.

Institutional Investors Weigh In On Mercantile Bank

Several institutional investors have recently added to or reduced their stakes in MBWM. Principal Financial Group Inc. increased its holdings in shares of Mercantile Bank by 3.7% during the third quarter. Principal Financial Group Inc. now owns 8,611 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 304 shares in the last quarter. 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 in the last quarter. CWM LLC grew its position in Mercantile Bank by 16.1% during 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 during the last quarter. Semanteon Capital Management LP increased its stake in Mercantile Bank by 10.1% during the 3rd quarter. Semanteon Capital Management LP now owns 5,751 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 528 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Mercantile Bank by 2.7% in the second quarter. Rhumbline Advisers now owns 25,321 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 655 shares during the last quarter. Institutional investors and hedge funds 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.