Mercantile Bank (NASDAQ:MBWM) is set to announce its earnings results before the market opens on Monday, January 15th. Analysts expect the company to announce earnings of $0.50 per share for the quarter.
Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. The business had revenue of $33.25 million during the quarter, compared to the consensus estimate of $32.20 million. On average, analysts expect Mercantile Bank to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Mercantile Bank (MBWM) opened at $37.45 on Friday. Mercantile Bank has a twelve month low of $28.92 and a twelve month high of $38.08. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $617.62, a P/E ratio of 19.61, a PEG ratio of 1.97 and a beta of 0.68.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 8th were issued a $0.19 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.03%. Mercantile Bank’s dividend payout ratio (DPR) is 39.79%.
In related news, Director Thomas R. Sullivan sold 5,800 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 20,273 shares in the company, valued at approximately $755,980.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas R. Sullivan sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.15, for a total value of $182,780.00. Following the transaction, the director now owns 15,073 shares of the company’s stock, valued at approximately $529,815.95. The disclosure for this sale can be found here. Insiders have sold a total of 21,739 shares of company stock valued at $796,835 in the last 90 days. Insiders own 3.20% of the company’s stock.
A number of research analysts recently issued reports on MBWM shares. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Thursday, September 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price objective on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, October 20th. BidaskClub lowered Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Sandler O’Neill set a $39.00 price objective on Mercantile Bank and gave the company a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Mercantile Bank currently has a consensus rating of “Hold” and an average target price of $37.25.
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About Mercantile Bank
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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