Mercantile Bank (NASDAQ:MBWM - Get Free Report) is expected to announce its earnings results before the market opens on Tuesday, April 22nd. Analysts expect the company to announce earnings of $1.19 per share and revenue of $57.57 million for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.
Mercantile Bank (NASDAQ:MBWM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating 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, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Mercantile Bank Stock Performance
Shares of NASDAQ:MBWM traded up $0.37 during midday trading on Friday, reaching $40.68. The company had a trading volume of 52,405 shares, compared to its average volume of 66,291. The stock has a market cap of $660.44 million, a P/E ratio of 8.22 and a beta of 0.86. The company's 50 day moving average price is $44.30 and its 200 day moving average price is $45.77. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. Mercantile Bank has a 52-week low of $34.46 and a 52-week high of $52.98.
Insider Activity at Mercantile Bank
In related news, Director Robert B. Kaminski sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $50.16, for a total value of $150,480.00. Following the sale, the director now directly owns 13,810 shares of the company's stock, valued at $692,709.60. This trade represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 7,750 shares of company stock valued at $382,695. Corporate insiders own 3.20% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Hovde Group raised Mercantile Bank from a "market perform" rating to an "outperform" rating and set a $54.00 price objective for the company in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Mercantile Bank from $56.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd.
Check Out Our Latest Stock Analysis on Mercantile Bank
About Mercantile Bank
(
Get 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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