Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $50,220.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 1,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $50.22, for a total value of $50,220.00. Following the sale, the director now directly owns 11,810 shares in the company, valued at $593,098.20. This trade represents a 7.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mercantile Bank Stock Performance

Shares of Mercantile Bank stock traded down $2.60 during midday trading on Wednesday, hitting $49.19. The company had a trading volume of 106,742 shares, compared to its average volume of 74,359. The stock has a market cap of $794.42 million, a price-to-earnings ratio of 9.94 and a beta of 1.00. Mercantile Bank Co. has a 12-month low of $33.46 and a 12-month 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 company has a fifty day simple moving average of $46.86 and a 200 day simple moving average of $45.72.

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

Mercantile Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.01%. Mercantile Bank’s dividend payout ratio is currently 29.09%.

Analyst Ratings Changes

MBWM has been the topic of a number of recent research reports. Hovde Group raised Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Mercantile Bank from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd.

Institutional Investors Weigh In On Mercantile Bank

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP raised its position in Mercantile Bank by 14.6% during the 4th quarter. Quantbot Technologies LP now owns 2,328 shares of the financial services provider’s stock worth $104,000 after buying an additional 297 shares during the last quarter. Principal Financial Group Inc. lifted its position in 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 purchasing an additional 304 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Mercantile Bank by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 75,720 shares of the financial services provider’s stock valued at $3,310,000 after purchasing an additional 400 shares during the last quarter. Victory Capital Management Inc. grew its position in Mercantile Bank by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 17,550 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 410 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Mercantile Bank by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,864 shares of the financial services provider’s stock valued at $528,000 after buying an additional 430 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.