Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $10,785.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $43.14, for a total transaction of $10,785.00. Following the completion of the sale, the director now directly owns 78,236 shares in the company, valued at $3,375,101.04. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mercantile Bank Price Performance

Mercantile Bank stock opened at $39.84 on Tuesday. The firm has a fifty day moving average of $46.37 and a 200-day moving average of $46.07. Mercantile Bank Co. has a 52-week low of $33.46 and a 52-week high of $52.98. 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 firm has a market capitalization of $646.64 million, a P/E ratio of 8.05 and a beta of 0.86.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. As a group, analysts predict that Mercantile Bank Co. will post 4.83 EPS for the current year.

Mercantile Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a $0.37 dividend. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, March 7th. This represents a $1.48 annualized dividend and a yield of 3.71%. Mercantile Bank’s dividend payout ratio (DPR) is 29.90%.

Institutional Trading of Mercantile Bank

Hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Mercantile Bank during the 4th quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mercantile Bank in the 4th quarter valued at about $35,000. Quantbot Technologies LP purchased a new position in Mercantile Bank in the 3rd quarter valued at about $89,000. Point72 Asset Management L.P. acquired a new stake in shares of Mercantile Bank during the fourth quarter valued at about $102,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Mercantile Bank during the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 58.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MBWM. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted 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.

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.