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 Wednesday, April 2nd. The stock was sold at an average price of $43.14, for a total transaction of $10,785.00. Following the transaction, the director now directly owns 78,236 shares of the company’s stock, valued at $3,375,101.04. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mercantile Bank Stock Performance

NASDAQ MBWM opened at $39.45 on Friday. The firm has a market capitalization of $640.31 million, a P/E ratio of 7.97 and a beta of 0.86. 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 firm’s fifty day moving average price is $46.57 and its two-hundred day moving average price is $46.11. Mercantile Bank Co. has a 1 year low of $33.46 and a 1 year high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Mercantile Bank Co. will post 4.83 EPS for the current year.

Mercantile Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 7th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.75%. Mercantile Bank’s payout ratio is presently 29.90%.

Wall Street Analysts Forecast Growth

MBWM has been the topic of several recent research reports. Hovde Group upgraded shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd.

Institutional Investors Weigh In On Mercantile Bank

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Mercantile Bank by 62.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,506 shares of the financial services provider’s stock valued at $1,268,000 after purchasing an additional 10,979 shares during the period. Squarepoint Ops LLC bought a new position in Mercantile Bank in the 4th quarter valued at about $211,000. Two Sigma Investments LP lifted its position in Mercantile Bank by 14.1% during the fourth quarter. Two Sigma Investments LP now owns 30,845 shares of the financial services provider’s stock worth $1,372,000 after acquiring an additional 3,809 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mercantile Bank during the fourth quarter worth approximately $35,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Mercantile Bank in the fourth quarter valued at approximately $102,000. Institutional investors and hedge funds own 58.63% of the company’s stock.

Mercantile Bank Company Profile

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.