Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells 3,000 Shares of Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $49.14, for a total value of $147,420.00. Following the transaction, the director now directly owns 16,810 shares in the company, valued at approximately $826,043.40. This represents a 15.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mercantile Bank Trading Up 0.3 %

Shares of NASDAQ MBWM opened at $48.75 on Friday. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $52.98. The stock has a market cap of $787.31 million, a price-to-earnings ratio of 9.85 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average is $47.00 and its 200-day moving average is $45.70.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. Equities research analysts predict that Mercantile Bank Co. will post 4.68 EPS for the current year.

Mercantile Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.04%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, March 7th. Mercantile Bank’s dividend payout ratio is presently 29.09%.

Institutional Trading of Mercantile Bank

Several hedge funds have recently bought and sold shares of the stock. Mattson Financial Services LLC acquired a new stake in shares of Mercantile Bank in the 2nd quarter valued at about $28,000. Quantbot Technologies LP acquired a new stake in Mercantile Bank in the 3rd quarter valued at approximately $89,000. CWM LLC lifted its stake in Mercantile Bank by 16.1% in the 3rd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 450 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Mercantile Bank during the 3rd quarter worth approximately $202,000. Finally, 626 Financial LLC bought a new position in shares of Mercantile Bank during the 3rd quarter worth approximately $213,000. 58.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MBWM has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Hovde Group upgraded Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Wednesday, January 22nd.

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.