Segall Bryant & Hamill LLC Sells 14,439 Shares of Mercantile Bank Co. (NASDAQ:MBWM)

Segall Bryant & Hamill LLC cut its holdings in shares of Mercantile Bank Co. (NASDAQ:MBWM - Free Report) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,482 shares of the financial services provider's stock after selling 14,439 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.68% of Mercantile Bank worth $4,830,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Gradient Investments LLC bought a new stake in shares of Mercantile Bank during the second quarter worth approximately $28,000. Mattson Financial Services LLC bought a new position in Mercantile Bank during the 2nd quarter worth $28,000. EMC Capital Management acquired a new stake in shares of Mercantile Bank during the first quarter worth $72,000. CWM LLC lifted its holdings in shares of Mercantile Bank by 242.6% during the second quarter. CWM LLC now owns 2,799 shares of the financial services provider's stock worth $114,000 after buying an additional 1,982 shares in the last quarter. Finally, 626 Financial LLC bought a new stake in shares of Mercantile Bank in the third quarter valued at about $213,000. Institutional investors own 58.63% of the company's stock.

Mercantile Bank Stock Performance

NASDAQ:MBWM traded up $1.35 during mid-day trading on Friday, reaching $50.39. 63,834 shares of the company's stock were exchanged, compared to its average volume of 57,198. Mercantile Bank Co. has a one year low of $33.46 and a one year high of $51.31. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The business's fifty day simple moving average is $45.02 and its two-hundred day simple moving average is $42.84. The firm has a market capitalization of $813.29 million, a PE ratio of 10.12 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.18 by $0.04. The company had revenue of $93.08 million for the quarter, compared to analysts' expectations of $56.83 million. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. During the same period last year, the firm earned $1.30 earnings per share. Analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.

Mercantile Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.86%. Mercantile Bank's payout ratio is 28.92%.

Insider Transactions at Mercantile Bank

In other Mercantile Bank news, Director Michael H. Price sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.57, for a total transaction of $227,850.00. Following the completion of the transaction, the director now directly owns 21,556 shares in the company, valued at $982,306.92. The trade was a 18.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert B. Kaminski sold 4,000 shares of the company's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the sale, the director now owns 25,610 shares of the company's stock, valued at $1,267,951.10. The trade was a 13.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,500 shares of company stock valued at $446,960. 3.08% of the stock is owned by corporate insiders.

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.