Robert B. Kaminski Sells 250 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of Mercantile Bank stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $47.05, for a total transaction of $11,762.50. Following the completion of the sale, the director now directly owns 86,730 shares of the company’s stock, valued at approximately $4,080,646.50. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mercantile Bank Trading Up 2.1 %

NASDAQ MBWM opened at $50.34 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 firm has a market capitalization of $812.99 million, a P/E ratio of 10.17 and a beta of 1.00. The business has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $45.74. Mercantile Bank Co. has a 12 month low of $33.46 and a 12 month high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. Mercantile Bank had a net margin of 21.99% and a return on equity of 14.29%. On average, analysts predict that Mercantile Bank Co. will post 4.83 EPS for the current fiscal year.

Mercantile Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.36. Mercantile Bank’s dividend payout ratio is 29.09%.

Hedge Funds Weigh In On Mercantile Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Mercantile Bank during the third quarter valued at $89,000. CWM LLC boosted its position in Mercantile Bank by 16.1% during the third quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 450 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Mercantile Bank in the third quarter worth about $202,000. 626 Financial LLC purchased a new stake in shares of Mercantile Bank during the 3rd quarter valued at approximately $213,000. Finally, Semanteon Capital Management LP boosted its holdings in Mercantile Bank by 10.1% in the 3rd quarter. Semanteon Capital Management LP now owns 5,751 shares of the financial services provider’s stock worth $251,000 after buying an additional 528 shares during the period. 58.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MBWM. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on shares of Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd.

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.