Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $12,027.50 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $48.11, for a total value of $12,027.50. Following the completion of the transaction, the director now directly owns 78,486 shares of the company’s stock, valued at approximately $3,775,961.46. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mercantile Bank Stock Performance

Shares of NASDAQ MBWM traded down $0.06 during midday trading on Wednesday, reaching $46.31. The company’s stock had a trading volume of 70,212 shares, compared to its average volume of 64,109. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $747.72 million, a P/E ratio of 9.36 and a beta of 0.98. The firm has a 50 day moving average price of $46.80 and a 200-day moving average price of $46.16. Mercantile Bank Co. has a 12-month low of $33.46 and a 12-month high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. As a group, equities analysts predict that Mercantile Bank Co. will post 4.83 earnings per share for the current year.

Mercantile Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.37 per share. This is an increase 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 3.20%. The ex-dividend date of this dividend is Friday, March 7th. Mercantile Bank’s payout ratio is currently 29.90%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Mercantile Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 worth $1,268,000 after buying an additional 10,979 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Mercantile Bank in the 4th quarter worth approximately $211,000. Two Sigma Investments LP boosted its stake in shares of Mercantile Bank by 14.1% in the 4th quarter. Two Sigma Investments LP now owns 30,845 shares of the financial services provider’s stock valued at $1,372,000 after purchasing an additional 3,809 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Mercantile Bank during the 4th quarter valued at $35,000. Finally, Point72 Asset Management L.P. purchased a new position in Mercantile Bank in the 4th quarter worth $102,000. 58.63% of the stock is currently 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.