Mercantile Bank (MBWM) Set to Announce Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will be posting its quarterly earnings results before the market opens on Tuesday, October 15th. Analysts expect Mercantile Bank to post earnings of $1.18 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.17 EPS for the quarter, hitting analysts’ consensus estimates of $1.17. Mercantile Bank had a net margin of 23.99% and a return on equity of 15.52%. The business had revenue of $88.56 million during the quarter, compared to analysts’ expectations of $56.23 million. During the same period last year, the company posted $1.27 EPS. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Mercantile Bank Stock Performance

Shares of NASDAQ:MBWM opened at $41.73 on Tuesday. Mercantile Bank has a 52 week low of $30.30 and a 52 week high of $51.21. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $40.71. The stock has a market capitalization of $672.73 million, a P/E ratio of 8.09 and a beta of 0.95.

Mercantile Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, September 6th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, September 6th. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.45%. Mercantile Bank’s payout ratio is currently 27.91%.

Insider Activity at Mercantile Bank

In related news, Director Robert B. Kaminski sold 2,000 shares of Mercantile Bank stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the sale, the director now owns 29,610 shares in the company, valued at $1,421,576.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Michael H. Price sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.57, for a total value of $227,850.00. Following the completion of the sale, the director now owns 21,556 shares in the company, valued at approximately $982,306.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert B. Kaminski sold 2,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the sale, the director now owns 29,610 shares of the company’s stock, valued at approximately $1,421,576.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $491,418 in the last 90 days. 3.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MBWM shares. Piper Sandler lifted their price target on shares of Mercantile Bank from $42.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $51.00 price target (up from $47.00) on shares of Mercantile Bank in a research note on Wednesday, July 17th.

Mercantile Bank Company Profile

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to 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.