Mercantile Bank (MBWM) to Release Quarterly Earnings on Monday

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.

Earnings History for Mercantile Bank (NASDAQ:MBWM)

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