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

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

Mercantile Bank Trading Down 0.4 %

Mercantile Bank stock traded down $0.18 during trading hours on Friday, hitting $45.57. The stock had a trading volume of 50,448 shares, compared to its average volume of 63,225. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The stock has a market cap of $735.77 million, a price-to-earnings ratio of 9.21 and a beta of 0.98. Mercantile Bank Co. has a one year low of $33.46 and a one year high of $52.98. The business's 50 day simple moving average is $46.84 and its 200-day simple moving average is $46.20.

Mercantile Bank (NASDAQ:MBWM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. On average, equities analysts predict that Mercantile Bank Co. will post 4.83 EPS for the current fiscal year.

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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 given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from Mercantile Bank's previous quarterly dividend of $0.36. The ex-dividend date is Friday, March 7th. Mercantile Bank's dividend payout ratio (DPR) is 29.90%.

Hedge Funds Weigh In On Mercantile Bank

A number of hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Mercantile Bank by 62.6% during 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 acquiring an additional 10,979 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Mercantile Bank during the fourth quarter worth about $211,000. Two Sigma Investments LP grew its stake in Mercantile Bank by 14.1% during the fourth quarter. Two Sigma Investments LP now owns 30,845 shares of the financial services provider's stock worth $1,372,000 after purchasing an additional 3,809 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mercantile Bank during the fourth quarter worth approximately $35,000. Finally, Point72 Asset Management L.P. acquired a new stake in Mercantile Bank during the fourth quarter worth approximately $102,000. 58.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MBWM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on 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 upgraded Mercantile Bank from a "market perform" rating to an "outperform" rating and set a $54.00 target price for the company in a research report on Wednesday, January 22nd.

Mercantile Bank Company Profile

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.