Press coverage about Mercantile Bank Corporation (NASDAQ:MBWM) has been trending somewhat positive this week, according to Accern. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Mercantile Bank Corporation earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 44.7140222171406 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Shares of Mercantile Bank Corporation (MBWM) opened at $34.66 on Friday. Mercantile Bank Corporation has a twelve month low of $28.92 and a twelve month high of $38.68. The company has a market cap of $567.65, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.25 and a beta of 0.70. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.
Mercantile Bank Corporation (NASDAQ:MBWM) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Mercantile Bank Corporation had a net margin of 22.18% and a return on equity of 8.91%. The business had revenue of $33.25 million during the quarter, compared to analysts’ expectations of $32.20 million. equities research analysts predict that Mercantile Bank Corporation will post 1.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. Mercantile Bank Corporation’s dividend payout ratio is currently 39.79%.
A number of brokerages have commented on MBWM. Zacks Investment Research cut shares of Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $34.00 target price on shares of Mercantile Bank Corporation in a report on Tuesday, October 3rd. DA Davidson cut shares of Mercantile Bank Corporation from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Thursday, September 28th. Finally, ValuEngine cut shares of Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.25.
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In other news, Director Thomas R. Sullivan sold 10,739 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $37.04, for a total value of $397,772.56. Following the completion of the sale, the director now directly owns 20,273 shares of the company’s stock, valued at $750,911.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas R. Sullivan sold 5,800 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $37.29, for a total transaction of $216,282.00. Following the completion of the sale, the director now directly owns 20,273 shares of the company’s stock, valued at $755,980.17. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
Mercantile Bank Corporation Company Profile
Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.
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