Robert B. Kaminski Sells 5,800 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of Mercantile Bank stock in a transaction on Monday, November 25th. The shares were sold at an average price of $51.75, for a total value of $300,150.00. Following the completion of the transaction, the director now owns 19,810 shares of the company’s stock, valued at approximately $1,025,167.50. The trade was a 22.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mercantile Bank Stock Up 0.9 %

NASDAQ:MBWM opened at $50.53 on Friday. The stock’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $43.07. The company has a market cap of $815.55 million, a price-to-earnings ratio of 10.15 and a beta of 0.95. 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.

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

Mercantile Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.85%. Mercantile Bank’s dividend payout ratio (DPR) is presently 28.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Gradient Investments LLC bought a new stake in shares of Mercantile Bank in the 2nd quarter valued at $28,000. Mattson Financial Services LLC acquired a new position in Mercantile Bank in the second quarter valued at about $28,000. EMC Capital Management bought a new stake in shares of Mercantile Bank in the first quarter worth about $72,000. Quantbot Technologies LP acquired a new stake in shares of Mercantile Bank during the third quarter worth about $89,000. Finally, CWM LLC lifted its holdings in shares of Mercantile Bank by 242.6% during the 2nd quarter. CWM LLC now owns 2,799 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,982 shares in the last quarter. Institutional investors and hedge funds own 58.63% of the company’s stock.

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.