Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski Sells 250 Shares of Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $48.11, for a total value of $12,027.50. Following the completion of the sale, the director now directly owns 78,486 shares of the company’s stock, valued at $3,775,961.46. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mercantile Bank Trading Down 0.1 %

Shares of MBWM stock opened at $46.31 on Thursday. 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 business has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $46.16. Mercantile Bank Co. has a 12-month low of $33.46 and a 12-month high of $52.98. The firm has a market cap of $747.72 million, a P/E ratio of 9.36 and a beta of 0.98.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Mercantile Bank Co. will post 4.83 EPS for the current fiscal year.

Mercantile Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, March 7th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. Mercantile Bank’s payout ratio is 29.90%.

Institutional Investors Weigh In On Mercantile Bank

A number of hedge funds and other institutional investors have recently modified their holdings of MBWM. Picton Mahoney Asset Management bought a new stake in shares of Mercantile Bank in the 4th quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mercantile Bank during the 4th quarter valued at about $35,000. Quantbot Technologies LP purchased a new position in Mercantile Bank during the 3rd quarter valued at about $89,000. Point72 Asset Management L.P. purchased a new position in Mercantile Bank during the 4th quarter valued at about $102,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Mercantile Bank during the 4th quarter valued at about $133,000. Institutional investors own 58.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted 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 upgraded Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Wednesday, January 22nd.

About Mercantile Bank

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.