Mercantile Bank Corporation $MBWM Holdings Boosted by Siena Capital Partners GP LLC

Siena Capital Partners GP LLC boosted its holdings in Mercantile Bank Corporation (NASDAQ:MBWM) by 319.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,966 shares of the financial services provider’s stock after acquiring an additional 63,966 shares during the period. Siena Capital Partners GP LLC owned about 0.49% of Mercantile Bank worth $4,039,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Mercantile Bank by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 1,066,368 shares of the financial services provider’s stock worth $51,292,000 after acquiring an additional 27,403 shares during the last quarter. American Century Companies Inc. lifted its holdings in Mercantile Bank by 9.2% in the third quarter. American Century Companies Inc. now owns 494,367 shares of the financial services provider’s stock worth $22,247,000 after acquiring an additional 41,540 shares during the last quarter. North Star Asset Management Inc. increased its stake in shares of Mercantile Bank by 5.4% in the fourth quarter. North Star Asset Management Inc. now owns 374,544 shares of the financial services provider’s stock valued at $18,016,000 after purchasing an additional 19,204 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Mercantile Bank by 37.7% in the third quarter. JPMorgan Chase & Co. now owns 214,647 shares of the financial services provider’s stock valued at $9,659,000 after purchasing an additional 58,743 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Mercantile Bank by 36.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 201,713 shares of the financial services provider’s stock valued at $9,077,000 after purchasing an additional 54,373 shares during the period. Institutional investors own 58.63% of the company’s stock.

Mercantile Bank Price Performance

Shares of NASDAQ:MBWM opened at $52.74 on Monday. The firm’s 50 day moving average is $51.82 and its two-hundred day moving average is $50.70. Mercantile Bank Corporation has a 52 week low of $42.17 and a 52 week high of $55.77. The firm has a market capitalization of $911.03 million, a P/E ratio of 9.47 and a beta of 0.81. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. Mercantile Bank had a net margin of 24.19% and a return on equity of 13.73%. The business had revenue of $67.59 million for the quarter, compared to analyst estimates of $67.41 million. Analysts anticipate that Mercantile Bank Corporation will post 5.63 earnings per share for the current year.

Mercantile Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, June 5th. Mercantile Bank’s dividend payout ratio (DPR) is currently 28.01%.

Analyst Ratings Changes

Several brokerages have commented on MBWM. Wall Street Zen upgraded shares of Mercantile Bank to a “hold” rating in a research note on Saturday, March 28th. Stephens began coverage on shares of Mercantile Bank in a research note on Wednesday, March 25th. They issued an “equal weight” rating and a $54.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Mercantile Bank presently has a consensus rating of “Moderate Buy” and an average target price of $56.20.

About Mercantile Bank

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.