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

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of Mercantile Bank stock in a transaction that occurred 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 directly owns 16,810 shares in the company, valued at $826,043.40. The trade was a 15.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mercantile Bank Stock Down 0.2 %

Mercantile Bank stock opened at $48.62 on Thursday. The company has a 50 day moving average of $47.01 and a 200-day moving average of $45.68. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $52.98. The stock has a market capitalization of $785.02 million, a PE ratio of 9.82 and a beta of 1.01.

Mercantile Bank (NASDAQ:MBWM) last announced 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 net margin of 21.99% and a return on equity of 14.29%. On average, equities research analysts anticipate that Mercantile Bank Co. will post 4.68 EPS for the current fiscal year.

Mercantile Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. Mercantile Bank’s dividend payout ratio (DPR) is currently 29.90%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Mercantile Bank

A number of large investors have recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in shares of Mercantile Bank in the second quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new stake in Mercantile Bank in the 3rd quarter valued at $89,000. CWM LLC lifted 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 buying an additional 450 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Mercantile Bank during the 3rd quarter worth about $202,000. Finally, 626 Financial LLC bought a new position in shares of Mercantile Bank in the 3rd quarter valued at about $213,000. 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.