De Lisle Partners LLP grew its position in shares of Mercantile Bank Co. (NASDAQ:MBWM - Free Report) by 46.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,310 shares of the financial services provider's stock after purchasing an additional 17,649 shares during the quarter. De Lisle Partners LLP owned about 0.34% of Mercantile Bank worth $2,417,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Gradient Investments LLC acquired a new stake in Mercantile Bank during the second quarter worth approximately $28,000. Mattson Financial Services LLC bought a new stake in shares of Mercantile Bank in the 2nd quarter valued at $28,000. EMC Capital Management acquired a new position in shares of Mercantile Bank during the 1st quarter valued at $72,000. Quantbot Technologies LP bought a new position in Mercantile Bank during the third quarter worth $89,000. Finally, CWM LLC grew its holdings in Mercantile Bank by 242.6% in the second quarter. CWM LLC now owns 2,799 shares of the financial services provider's stock worth $114,000 after purchasing an additional 1,982 shares during the period. Institutional investors and hedge funds own 58.63% of the company's stock.
Mercantile Bank Stock Up 0.9 %
MBWM traded up $0.43 during midday trading on Thursday, hitting $50.53. The company had a trading volume of 57,941 shares, compared to its average volume of 68,368. The stock's 50 day moving average price is $45.36 and its 200 day moving average price is $43.07. Mercantile Bank Co. has a 52 week low of $33.46 and a 52 week high of $52.98. 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 company has a market capitalization of $815.66 million, a price-to-earnings ratio of 10.15 and a beta of 0.95.
Mercantile Bank (NASDAQ:MBWM - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. The firm had revenue of $93.08 million for 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 quarter in the prior year, the company posted $1.30 earnings per share. On average, research analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.
Mercantile Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, December 6th. Mercantile Bank's dividend payout ratio is currently 28.92%.
Insider Transactions at Mercantile Bank
In other Mercantile Bank news, Director Robert B. Kaminski sold 4,000 shares of Mercantile Bank stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.51, for a total transaction of $198,040.00. Following the transaction, the director now directly owns 25,610 shares of the company's stock, valued at $1,267,951.10. The trade was a 13.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 10,300 shares of company stock valued at $519,260 over the last ninety days. 3.08% of the stock is currently owned by insiders.
About Mercantile Bank
(
Free Report)
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.
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