Mercantile Bank Corporation (NASDAQ:MBWM) Plans $0.39 Quarterly Dividend

Mercantile Bank Corporation (NASDAQ:MBWM) declared a quarterly dividend on Thursday, April 16th. Investors of record on Friday, June 5th will be given a dividend of 0.39 per share by the financial services provider on Wednesday, June 17th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, June 5th.

Mercantile Bank has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Mercantile Bank has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mercantile Bank to earn $5.86 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 26.6%.

Mercantile Bank Stock Performance

NASDAQ:MBWM opened at $52.88 on Wednesday. The firm has a market capitalization of $913.24 million, a PE ratio of 9.49 and a beta of 0.81. Mercantile Bank has a 12 month low of $42.17 and a 12 month high of $55.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.93. The business’s fifty day moving average price is $51.60 and its 200 day moving average price is $50.50.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. The company had revenue of $67.59 million for the quarter, compared to analyst estimates of $67.41 million. Mercantile Bank had a net margin of 24.19% and a return on equity of 13.73%. On average, sell-side analysts anticipate that Mercantile Bank will post 5.63 earnings per share for the current fiscal year.

Mercantile Bank Company Profile

Mercantile Bank Corporation (NASDAQ: MBWM) is the bank holding company for Mercantile Bank of Michigan, a full-service commercial bank headquartered in Grand Rapids, Michigan. Through its state-chartered subsidiary, the company provides a broad range of financial products and services to small and mid-sized businesses, professionals and consumers across West and Central Michigan.

The bank’s core offerings include deposit products such as checking, savings and money market accounts, alongside commercial and consumer loan portfolios.