News coverage about Mercantile Bank (NASDAQ:MBWM) has trended somewhat positive recently, according to Accern. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Mercantile Bank earned a daily sentiment score of 0.15 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 47.3641575535134 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
A number of research analysts recently commented on MBWM shares. BidaskClub upgraded shares of Mercantile Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods upgraded shares of Mercantile Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 1st. Hovde Group restated a “hold” rating and issued a $37.00 price target on shares of Mercantile Bank in a research report on Wednesday, April 18th. Sandler O’Neill set a $37.00 price target on shares of Mercantile Bank and gave the stock a “hold” rating in a research report on Tuesday, March 27th. Finally, ValuEngine lowered shares of Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.80.
Mercantile Bank stock traded up $0.47 during mid-day trading on Tuesday, hitting $36.76. The company’s stock had a trading volume of 1,019 shares, compared to its average volume of 36,648. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $595.70 million, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.82 and a beta of 0.71. Mercantile Bank has a twelve month low of $28.92 and a twelve month high of $38.08.
Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The firm had revenue of $34.58 million for the quarter, compared to analyst estimates of $33.03 million. Mercantile Bank had a net margin of 23.13% and a return on equity of 9.50%. equities analysts predict that Mercantile Bank will post 2.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Friday, June 8th will be given a $0.22 dividend. The ex-dividend date is Thursday, June 7th. This represents a $0.88 annualized dividend and a yield of 2.39%. Mercantile Bank’s dividend payout ratio (DPR) is 46.56%.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 6,930 shares of Mercantile Bank stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $34.28, for a total value of $237,560.40. Following the transaction, the director now owns 20,143 shares in the company, valued at $690,502.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.20% of the company’s stock.
About Mercantile Bank
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.
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