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 dated Monday, February 3rd. The shares were sold at an average price of $47.05, for a total value of $11,762.50. Following the completion of the sale, the director now directly owns 86,730 shares in the company, valued at $4,080,646.50. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mercantile Bank Stock Performance

Mercantile Bank stock traded up $0.92 during midday trading on Tuesday, reaching $48.67. 38,237 shares of the company’s stock were exchanged, compared to its average volume of 70,847. Mercantile Bank Co. has a 52 week low of $33.46 and a 52 week high of $52.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $786.02 million, a price-to-earnings ratio of 9.83 and a beta of 1.00. The stock’s 50-day simple moving average is $46.91 and its 200 day simple moving average is $45.68.

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 the consensus estimate 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 expect that Mercantile Bank Co. will post 4.83 earnings per share for the current fiscal year.

Mercantile Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 7th. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 3.04%. Mercantile Bank’s dividend payout ratio (DPR) is 29.09%.

Institutional Investors Weigh In On Mercantile Bank

Several hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Mercantile Bank in the third quarter valued at approximately $89,000. CWM LLC raised its position in shares of Mercantile Bank by 16.1% in the third quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $142,000 after buying an additional 450 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mercantile Bank in the third quarter valued at approximately $202,000. 626 Financial LLC acquired a new stake in shares of Mercantile Bank in the third quarter valued at approximately $213,000. Finally, Semanteon Capital Management LP raised its position in Mercantile Bank by 10.1% during the third quarter. Semanteon Capital Management LP now owns 5,751 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 528 shares in the last quarter. 58.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MBWM shares. Keefe, Bruyette & Woods raised their price objective on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Hovde Group upgraded Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a 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.