Robert B. Kaminski Sells 4,000 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 4,000 shares of Mercantile Bank stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $49.51, for a total value of $198,040.00. Following the completion of the sale, the director now owns 25,610 shares of the company’s stock, valued at $1,267,951.10. This trade represents a 13.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mercantile Bank Trading Down 0.7 %

Shares of MBWM traded down $0.35 during mid-day trading on Friday, hitting $49.10. The company had a trading volume of 52,195 shares, compared to its average volume of 68,680. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $51.31. 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 business’s 50-day simple moving average is $44.32 and its 200-day simple moving average is $42.34. The stock has a market cap of $792.47 million, a PE ratio of 9.93 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The business had revenue of $93.08 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.30 EPS. Sell-side analysts forecast that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a $0.36 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.44 annualized dividend and a yield of 2.93%. Mercantile Bank’s payout ratio is 28.92%.

Institutional Investors Weigh In On Mercantile Bank

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Mercantile Bank by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock valued at $30,997,000 after acquiring an additional 21,616 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Mercantile Bank by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock valued at $21,539,000 after purchasing an additional 8,100 shares in the last quarter. North Star Asset Management Inc. raised its position 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 purchasing an additional 2,532 shares during the period. American Century Companies Inc. lifted its stake in shares of Mercantile Bank by 18.2% during the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock worth $12,530,000 after purchasing an additional 47,528 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Mercantile Bank by 15.4% in the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock worth $10,553,000 after buying an additional 34,725 shares during the period. 58.63% of the stock is currently owned by hedge funds and other institutional investors.

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.