Mercantile Bank (MBWM) Projected to Post Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will likely be posting its quarterly earnings results before the market opens on Tuesday, January 21st. Analysts expect Mercantile Bank to post earnings of $1.15 per share and revenue of $57,328.25 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Mercantile Bank Price Performance

Mercantile Bank stock opened at $44.21 on Friday. 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 stock has a market cap of $713.55 million, a P/E ratio of 8.88 and a beta of 1.01. The company’s 50 day moving average price is $47.21 and its two-hundred day moving average price is $45.23. Mercantile Bank has a 52 week low of $33.46 and a 52 week high of $52.98.

Insider Buying and Selling at Mercantile Bank

In other Mercantile Bank news, Director Robert B. Kaminski sold 4,000 shares of Mercantile Bank 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 sale, the director now owns 25,610 shares of the company’s stock, valued at $1,267,951.10. The trade was a 13.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 10,300 shares of company stock valued at $521,218 in the last three months. Company insiders own 3.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on Mercantile Bank from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.