Mercantile Bank (MBWM) Releases Earnings Results, Beats Estimates By $0.10 EPS

Mercantile Bank (NASDAQ:MBWM) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10, reports. Mercantile Bank had a return on equity of 8.72% and a net margin of 21.64%.

Shares of MBWM stock opened at $34.61 on Tuesday. The company has a market capitalization of $565.99, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.80 and a beta of 0.71. Mercantile Bank has a fifty-two week low of $28.92 and a fifty-two week high of $38.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03.

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A number of brokerages recently weighed in on MBWM. Zacks Investment Research cut Mercantile Bank from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. ValuEngine raised Mercantile Bank from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Hovde Group reaffirmed a “hold” rating and issued a $38.50 price target on shares of Mercantile Bank in a research note on Thursday, January 18th. BidaskClub raised Mercantile Bank from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Sandler O’Neill set a $39.00 price target on Mercantile Bank and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $37.10.

In other news, Director Thomas R. Sullivan sold 6,930 shares of Mercantile Bank stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $34.28, for a total value of $237,560.40. Following the sale, the director now directly owns 20,143 shares in the company, valued at approximately $690,502.04. The sale was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by company insiders.

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About Mercantile Bank

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for 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.

Earnings History for Mercantile Bank (NASDAQ:MBWM)

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