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

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $49.60, for a total transaction of $12,400.00. Following the sale, the director now directly owns 87,230 shares of the company’s stock, valued at $4,326,608. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mercantile Bank Stock Down 1.4 %

Shares of Mercantile Bank stock traded down $0.71 on Tuesday, reaching $49.99. The company’s stock had a trading volume of 74,623 shares, compared to its average volume of 68,337. The company has a market capitalization of $806.84 million, a price-to-earnings ratio of 10.04 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. Mercantile Bank Co. has a 52 week low of $33.46 and a 52 week high of $52.98. The firm’s fifty day simple moving average is $45.70 and its two-hundred day simple moving average is $43.33.

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

Mercantile Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 yield of 2.88%. The ex-dividend date of this dividend is Friday, December 6th. Mercantile Bank’s dividend payout ratio (DPR) is presently 28.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Mercantile Bank by 12.9% in the third quarter. Franklin Resources Inc. now owns 10,123 shares of the financial services provider’s stock worth $439,000 after buying an additional 1,154 shares during the last quarter. Barclays PLC grew its holdings in Mercantile Bank by 99.2% during the 3rd quarter. Barclays PLC now owns 32,981 shares of the financial services provider’s stock valued at $1,441,000 after buying an additional 16,423 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mercantile Bank by 3.9% during the third quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock worth $16,484,000 after acquiring an additional 14,202 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Mercantile Bank during the third quarter valued at about $202,000. Finally, Jane Street Group LLC increased its holdings in shares of Mercantile Bank by 119.3% in the third quarter. Jane Street Group LLC now owns 29,622 shares of the financial services provider’s stock worth $1,295,000 after purchasing an additional 16,115 shares during the last quarter. 58.63% of the stock is owned by hedge funds and other institutional investors.

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.