Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $198,040.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the completion of the sale, the director now owns 25,610 shares in the company, valued at approximately $1,267,951.10. This represents a 13.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Mercantile Bank Price Performance

NASDAQ:MBWM opened at $49.10 on Friday. The company has a 50 day moving average price of $44.44 and a 200-day moving average price of $42.48. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $51.31. The firm has a market cap of $792.47 million, a price-to-earnings ratio of 9.86 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings data 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 company had revenue of $93.08 million during the quarter, compared to analysts’ expectations of $56.83 million. During the same quarter in the previous year, the company earned $1.30 earnings per share. Equities research analysts forecast that Mercantile Bank Co. will post 4.87 EPS for the current year.

Mercantile Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 2.93%. Mercantile Bank’s dividend payout ratio is currently 28.92%.

Institutional Trading of Mercantile Bank

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of 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 worth $7,074,000 after buying an additional 90,802 shares during the period. American Century Companies Inc. increased its holdings in Mercantile Bank by 18.2% in the 2nd quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock worth $12,530,000 after acquiring an additional 47,528 shares in the last quarter. LSV Asset Management raised its position in Mercantile Bank by 15.4% during the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock worth $10,553,000 after acquiring an additional 34,725 shares during the period. Vanguard Group Inc. lifted its holdings in Mercantile Bank by 2.8% during the first quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock valued at $30,997,000 after purchasing an additional 21,616 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of Mercantile Bank by 218.8% in the second 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 during the period. 58.63% of the stock is owned by institutional investors and hedge funds.

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.