Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $300,150.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $51.75, for a total value of $300,150.00. Following the transaction, the director now 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 document filed with the SEC, which is accessible through the SEC website.

Mercantile Bank Trading Up 0.9 %

Shares of NASDAQ MBWM opened at $50.53 on Thursday. The business has a fifty day moving average price of $45.26 and a 200 day moving average price of $43.02. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $815.66 million, a P/E ratio of 10.15 and a beta of 0.95.

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

Mercantile Bank Dividend Announcement

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

Institutional Trading of Mercantile Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Mercantile Bank by 108.7% during the 2nd quarter. AQR Capital Management LLC now owns 174,355 shares of the financial services provider’s stock valued at $7,074,000 after buying an additional 90,802 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Mercantile Bank by 18.2% during the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after acquiring an additional 47,528 shares in the last quarter. LSV Asset Management raised its position in shares of Mercantile Bank by 15.4% in the 2nd quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock valued at $10,553,000 after purchasing an additional 34,725 shares during the last quarter. Vanguard Group Inc. grew its position in Mercantile Bank by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after purchasing an additional 21,616 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Mercantile Bank by 218.8% during the 2nd quarter. Inspire Investing LLC now owns 29,820 shares of the financial services provider’s stock valued at $1,210,000 after purchasing an additional 20,465 shares in the last quarter. Hedge funds and other institutional investors 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.