Mercantile Bank Co. (NASDAQ:MBWM - Get Free Report) Director Robert B. Kaminski sold 250 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $49.60, for a total value of $12,400.00. Following the transaction, the director now directly owns 87,230 shares in the company, valued at $4,326,608. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Mercantile Bank Trading Down 1.4 %
Shares of MBWM stock opened at $49.99 on Wednesday. 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 Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The business has a 50-day moving average of $45.70 and a 200 day moving average of $43.33. The stock has a market capitalization of $806.84 million, a PE ratio of 10.04 and a beta of 0.99.
Mercantile Bank (NASDAQ:MBWM - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.18 by $0.04. The company had revenue of $93.08 million for the quarter, compared to the consensus estimate 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 firm earned $1.30 earnings per share. As a group, sell-side analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current year.
Mercantile Bank Dividend Announcement
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.88%. Mercantile Bank's dividend payout ratio is currently 28.92%.
Institutional Trading of Mercantile Bank
Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Mercantile Bank by 3.7% during the third quarter. Principal Financial Group Inc. now owns 8,611 shares of the financial services provider's stock valued at $376,000 after acquiring an additional 304 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Mercantile Bank by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 75,720 shares of the financial services provider's stock worth $3,310,000 after buying an additional 400 shares during the period. CWM LLC boosted its position in Mercantile Bank by 16.1% during the 3rd quarter. CWM LLC now owns 3,249 shares of the financial services provider's stock valued at $142,000 after acquiring an additional 450 shares in the last quarter. Semanteon Capital Management LP grew its holdings in shares of Mercantile Bank by 10.1% during the 3rd quarter. Semanteon Capital Management LP now owns 5,751 shares of the financial services provider's stock worth $251,000 after acquiring an additional 528 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Mercantile Bank by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 25,321 shares of the financial services provider's stock worth $1,027,000 after acquiring an additional 655 shares during the period. 58.63% of the stock is owned by institutional investors.
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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