Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $12,400.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $49.60, for a total value of $12,400.00. Following the completion of the sale, the director now owns 87,230 shares of the company’s stock, valued at approximately $4,326,608. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mercantile Bank Price Performance

NASDAQ MBWM opened at $50.60 on Friday. The stock has a market capitalization of $816.68 million, a PE ratio of 10.16 and a beta of 0.99. The stock has a 50-day simple moving average of $46.16 and a 200 day simple moving average of $43.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $52.98.

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

Mercantile Bank Dividend Announcement

The business also recently disclosed 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 dividend payout ratio is currently 28.92%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Mercantile Bank from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Institutional Trading of Mercantile Bank

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