Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $150,480.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $50.16, for a total transaction of $150,480.00. Following the completion of the transaction, the director now owns 13,810 shares of the company’s stock, valued at $692,709.60. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mercantile Bank Price Performance

Shares of NASDAQ:MBWM opened at $48.75 on Friday. The company’s fifty day moving average price is $47.00 and its 200-day moving average price is $45.70. 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 firm has a market capitalization of $787.31 million, a price-to-earnings ratio of 9.85 and a beta of 1.01. Mercantile Bank Co. has a one year low of $33.46 and a one year high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. On average, equities research analysts anticipate that Mercantile Bank Co. will post 4.68 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. Investors of record on Friday, March 7th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, March 7th. Mercantile Bank’s dividend payout ratio (DPR) is currently 29.09%.

Analyst Ratings Changes

MBWM has been the subject of several analyst reports. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their target price on Mercantile Bank from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd.

Institutional Trading of Mercantile Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings 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 worth $1,441,000 after acquiring an additional 16,423 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mercantile Bank by 3.9% in the third quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock worth $16,484,000 after purchasing an additional 14,202 shares during the last quarter. Cerity Partners LLC boosted its position in Mercantile Bank by 132.9% during the third quarter. Cerity Partners LLC now owns 21,451 shares of the financial services provider’s stock valued at $938,000 after buying an additional 12,239 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Mercantile Bank by 35.1% in the third quarter. JPMorgan Chase & Co. now owns 82,357 shares of the financial services provider’s stock worth $3,601,000 after buying an additional 21,411 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Mercantile Bank by 83.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,301 shares of the financial services provider’s stock valued at $1,368,000 after acquiring an additional 14,263 shares during the last quarter. Hedge funds and other 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.