Press coverage about Mercantile Bank (NASDAQ:MBWM) has trended somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Mercantile Bank earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 45.8376436420402 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
Several equities research analysts have recently issued reports on the company. ValuEngine cut Mercantile Bank from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 target price on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered Mercantile Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $37.25.
Shares of Mercantile Bank (NASDAQ MBWM) traded up $0.60 on Friday, hitting $36.64. The company had a trading volume of 60,300 shares, compared to its average volume of 39,100. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. The stock has a market cap of $584.14, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.98 and a beta of 0.68. Mercantile Bank has a twelve month low of $28.92 and a twelve month high of $38.08.
Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $33.25 million for the quarter, compared to analyst estimates of $32.20 million. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. equities research analysts forecast that Mercantile Bank will post 1.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Friday, December 8th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, December 7th. Mercantile Bank’s dividend payout ratio (DPR) is currently 39.79%.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,800 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $37.29, for a total value of $216,282.00. Following the transaction, the director now directly owns 20,273 shares of the company’s stock, valued at $755,980.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas R. Sullivan sold 5,200 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $35.15, for a total value of $182,780.00. Following the completion of the transaction, the director now directly owns 15,073 shares in the company, valued at $529,815.95. The disclosure for this sale can be found here. Insiders sold a total of 21,739 shares of company stock worth $796,835 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
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Mercantile Bank 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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