Mercantile Bank Co. (NASDAQ:MBWM) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lessened its stake in Mercantile Bank Co. (NASDAQ:MBWM) by 36.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,123 shares of the financial services provider’s stock after selling 5,149 shares during the quarter. GSA Capital Partners LLP owned about 0.06% of Mercantile Bank worth $399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MBWM. Vanguard Group Inc. boosted its holdings in Mercantile Bank by 2.8% in the first quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after purchasing an additional 21,616 shares during the period. Renaissance Technologies LLC lifted its stake in Mercantile Bank by 1.5% in the second quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock valued at $21,539,000 after buying an additional 8,100 shares during the last quarter. North Star Asset Management Inc. lifted its stake in Mercantile Bank by 0.7% in the second quarter. North Star Asset Management Inc. now owns 363,806 shares of the financial services provider’s stock valued at $14,760,000 after buying an additional 2,532 shares during the last quarter. American Century Companies Inc. lifted its stake in Mercantile Bank by 18.2% in the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after buying an additional 47,528 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Mercantile Bank by 15.4% in the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock valued at $10,553,000 after buying an additional 34,725 shares during the last quarter. 58.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert B. Kaminski sold 4,000 shares of Mercantile Bank stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the transaction, the director now owns 25,610 shares of the company’s stock, valued at approximately $1,267,951.10. This trade represents a 13.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Price sold 5,000 shares of Mercantile Bank stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.57, for a total value of $227,850.00. Following the completion of the transaction, the director now directly owns 21,556 shares in the company, valued at $982,306.92. This represents a 18.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $446,960 over the last three months. Company insiders own 3.08% of the company’s stock.

Mercantile Bank Stock Performance

MBWM stock opened at $49.04 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $791.51 million, a price-to-earnings ratio of 9.85 and a beta of 0.95. Mercantile Bank Co. has a 1 year low of $33.46 and a 1 year high of $51.31. The stock’s fifty day moving average is $44.90 and its two-hundred day moving average is $42.74.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The business had revenue of $93.08 million for the quarter, compared to analysts’ expectations of $56.83 million. During the same period in the previous year, the business earned $1.30 earnings per share. On average, research analysts predict that Mercantile Bank Co. will post 4.87 EPS for the current year.

Mercantile Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s dividend payout ratio is currently 28.92%.

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.