Mercantile Bank Co. (NASDAQ:MBWM - Get Free Report) Director Robert B. Kaminski sold 4,000 shares of the stock in a transaction 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 sale, the director now owns 25,610 shares of the company's stock, valued at approximately $1,267,951.10. This represents a 13.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Mercantile Bank Trading Down 0.7 %
Shares of NASDAQ:MBWM opened at $49.10 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 stock has a market capitalization of $792.47 million, a PE ratio of 9.86 and a beta of 0.95. Mercantile Bank Co. has a 1 year low of $33.46 and a 1 year high of $51.31. The firm has a fifty day moving average price of $44.44 and a 200 day moving average price of $42.43.
Mercantile Bank (NASDAQ:MBWM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.04. The business had revenue of $93.08 million during the quarter, compared to analysts' expectations of $56.83 million. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. During the same period in the previous year, the company earned $1.30 earnings per share. Analysts expect that Mercantile Bank Co. will post 4.87 EPS for the current fiscal year.
Mercantile Bank Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, December 6th. Mercantile Bank's payout ratio is currently 28.92%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of Mercantile Bank by 108.7% in the 2nd quarter. AQR Capital Management LLC now owns 174,355 shares of the financial services provider's stock worth $7,074,000 after acquiring an additional 90,802 shares during the period. American Century Companies Inc. lifted its position in Mercantile Bank by 18.2% in the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider's stock worth $12,530,000 after purchasing an additional 47,528 shares during the period. LSV Asset Management boosted its stake 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 buying an additional 34,725 shares in the last quarter. Vanguard Group Inc. increased its holdings in Mercantile Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider's stock valued at $30,997,000 after buying an additional 21,616 shares during the period. Finally, Inspire Investing LLC increased its holdings in Mercantile Bank by 218.8% in the 2nd quarter. Inspire Investing LLC now owns 29,820 shares of the financial services provider's stock valued at $1,210,000 after buying an additional 20,465 shares during the period. Institutional investors own 58.63% of the company's stock.
About Mercantile Bank
(
Get Free Report)
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.
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