Mercantile Bank Co. (NASDAQ:MBWM) Shares Acquired by Barclays PLC

Barclays PLC lifted its stake in Mercantile Bank Co. (NASDAQ:MBWM) by 99.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,981 shares of the financial services provider’s stock after purchasing an additional 16,423 shares during the period. Barclays PLC owned approximately 0.20% of Mercantile Bank worth $1,441,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC increased its holdings in Mercantile Bank by 218.8% in the second quarter. Inspire Investing LLC now owns 29,820 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 20,465 shares in the last quarter. Cerity Partners LLC increased its stake in Mercantile Bank by 132.9% in the 3rd quarter. Cerity Partners LLC now owns 21,451 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 12,239 shares in the last quarter. AQR Capital Management LLC raised its holdings in Mercantile Bank by 108.7% during the second quarter. AQR Capital Management LLC now owns 174,355 shares of the financial services provider’s stock worth $7,074,000 after purchasing an additional 90,802 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Mercantile Bank by 83.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,301 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 14,263 shares during the last quarter. Finally, De Lisle Partners LLP boosted its position in Mercantile Bank by 46.9% during the third quarter. De Lisle Partners LLP now owns 55,310 shares of the financial services provider’s stock worth $2,417,000 after purchasing an additional 17,649 shares in the last quarter. Hedge funds and other institutional investors own 58.63% of the company’s stock.

Mercantile Bank Trading Down 1.7 %

Shares of MBWM opened at $44.78 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The stock has a market cap of $722.84 million, a price-to-earnings ratio of 8.99 and a beta of 0.99. The firm has a 50 day simple moving average of $47.54 and a 200-day simple moving average of $44.58.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The company had revenue of $93.08 million during the quarter, compared to analysts’ expectations of $56.83 million. Mercantile Bank had a return on equity of 14.59% and a net margin of 22.77%. During the same period in the previous year, the firm posted $1.30 earnings per share. Equities analysts forecast that Mercantile Bank Co. will post 4.87 EPS for the current fiscal year.

Mercantile Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.22%. Mercantile Bank’s dividend payout ratio (DPR) is presently 28.92%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price target on Mercantile Bank from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Insider Activity

In other news, Director Robert B. Kaminski sold 5,800 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $51.75, for a total transaction of $300,150.00. Following the sale, the director now owns 19,810 shares in the company, valued at $1,025,167.50. This trade represents a 22.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 10,550 shares of company stock valued at $531,660 over the last 90 days. Insiders own 3.08% 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 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.