Robert B. Kaminski Sells 5,800 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $51.75, for a total transaction of $300,150.00. Following the completion of the sale, the director now directly owns 19,810 shares in the company, valued at approximately $1,025,167.50. This represents a 22.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mercantile Bank Price Performance

Shares of MBWM opened at $50.53 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $45.36 and its 200 day simple moving average is $43.07. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The company has a market cap of $815.55 million, a price-to-earnings ratio of 10.15 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The business had revenue of $93.08 million for the quarter, compared to analyst estimates of $56.83 million. Mercantile Bank had a return on equity of 14.59% and a net margin of 22.77%. During the same period in the previous year, the firm earned $1.30 EPS. On average, research analysts forecast that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.

Mercantile Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.85%. Mercantile Bank’s payout ratio is presently 28.92%.

Institutional Trading of Mercantile Bank

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in Mercantile Bank by 12.9% during the third quarter. Franklin Resources Inc. now owns 10,123 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 1,154 shares in the last quarter. Barclays PLC increased its stake in shares of Mercantile Bank by 99.2% in the 3rd quarter. Barclays PLC now owns 32,981 shares of the financial services provider’s stock valued at $1,441,000 after purchasing an additional 16,423 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Mercantile Bank by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock worth $16,484,000 after buying an additional 14,202 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Mercantile Bank during the 3rd quarter worth $202,000. Finally, Jane Street Group LLC boosted its stake in Mercantile Bank by 119.3% in the third quarter. Jane Street Group LLC now owns 29,622 shares of the financial services provider’s stock valued at $1,295,000 after buying an additional 16,115 shares in the last quarter. Institutional investors own 58.63% of the company’s stock.

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.