Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $150,480.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $50.16, for a total value of $150,480.00. Following the completion of the transaction, the director now owns 13,810 shares in the company, valued at $692,709.60. This represents a 17.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mercantile Bank Stock Up 0.3 %

Shares of NASDAQ:MBWM opened at $48.75 on Friday. Mercantile Bank Co. has a 1 year low of $33.46 and a 1 year high of $52.98. The company has a market capitalization of $787.31 million, a PE ratio of 9.85 and a beta of 1.01. The business has a fifty day moving average price of $47.00 and a two-hundred day moving average price of $45.70. 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 (NASDAQ:MBWM) last posted 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%. Analysts forecast that Mercantile Bank Co. will post 4.68 earnings per share for the current year.

Mercantile Bank Increases Dividend

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

Institutional Trading of Mercantile Bank

A number of large investors have recently bought and sold shares of MBWM. Mattson Financial Services LLC bought a new position in shares of Mercantile Bank during the 2nd quarter worth $28,000. Quantbot Technologies LP bought a new position in Mercantile Bank during the third quarter worth about $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 purchasing an additional 450 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mercantile Bank during the 3rd quarter valued at approximately $202,000. Finally, 626 Financial LLC bought a new position in Mercantile Bank in the 3rd quarter worth approximately $213,000. 58.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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