Equities research analysts expect Mercantile Bank Corp. (NASDAQ:MBWM) to post earnings per share of $0.64 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Mercantile Bank’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.62. Mercantile Bank posted earnings per share of $0.61 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 15th.
According to Zacks, analysts expect that Mercantile Bank will report full year earnings of $2.69 per share for the current fiscal year. For the next year, analysts anticipate that the company will post earnings of $2.66 per share, with EPS estimates ranging from $2.59 to $2.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Mercantile Bank.
Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $37.45 million for the quarter, compared to analysts’ expectations of $35.51 million. Mercantile Bank had a return on equity of 11.10% and a net margin of 25.97%.
Shares of MBWM traded up $0.16 during midday trading on Friday, reaching $31.97. 43,632 shares of the company were exchanged, compared to its average volume of 39,002. The company’s 50-day moving average is $31.95. The stock has a market capitalization of $525.04 million, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. Mercantile Bank has a 1-year low of $26.40 and a 1-year high of $37.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.09 and a current ratio of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 3.38%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.26. Mercantile Bank’s dividend payout ratio is presently 41.11%.
A number of hedge funds and other institutional investors have recently made changes to their positions in MBWM. PNC Financial Services Group Inc. raised its stake in Mercantile Bank by 15.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,589 shares of the financial services provider’s stock valued at $73,000 after buying an additional 347 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Mercantile Bank by 208.9% during the first quarter. Meeder Asset Management Inc. now owns 2,740 shares of the financial services provider’s stock valued at $88,000 after buying an additional 1,853 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Mercantile Bank by 396.5% during the first quarter. BNP Paribas Arbitrage SA now owns 3,396 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,712 shares in the last quarter. Advisor Group Inc. raised its stake in Mercantile Bank by 36.9% during the fourth quarter. Advisor Group Inc. now owns 4,091 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,102 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Mercantile Bank during the first quarter valued at approximately $131,000. Hedge funds and other institutional investors own 54.08% 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 for 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.
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