News stories about Mercantile Bank (NASDAQ:MBWM) have been trending somewhat positive this week, Accern Sentiment reports. Accern ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Mercantile Bank earned a coverage optimism score of 0.09 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.8376436420402 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
Mercantile Bank (NASDAQ MBWM) traded down $0.15 during midday trading on Friday, reaching $35.32. The company had a trading volume of 19,598 shares, compared to its average volume of 36,373. The stock has a market cap of $580.03, a PE ratio of 18.59, a PEG ratio of 1.87 and a beta of 0.66. Mercantile Bank has a one year low of $28.92 and a one year high of $38.08. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73.
Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The firm had revenue of $32.91 million for the quarter, compared to analysts’ expectations of $32.93 million. Mercantile Bank had a return on equity of 8.78% and a net margin of 21.64%. sell-side analysts predict that Mercantile Bank will post 2.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Friday, March 9th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.19. Mercantile Bank’s payout ratio is currently 40.00%.
A number of equities research analysts have issued reports on the company. ValuEngine upgraded Mercantile Bank from a “hold” rating to a “buy” rating in a research note on Saturday. BidaskClub downgraded Mercantile Bank from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Hovde Group restated a “hold” rating and set a $38.50 price target on shares of Mercantile Bank in a research note on Thursday, January 18th. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, October 20th. Finally, Sandler O’Neill set a $39.00 price objective on Mercantile Bank and gave the company a “hold” rating in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Mercantile Bank presently has an average rating of “Hold” and an average target price of $37.50.
In other news, Director Thomas R. Sullivan sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $35.15, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.
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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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