Campbell & CO Investment Adviser LLC Acquires New Stake in Mercantile Bank Corp. (NASDAQ:MBWM)

Campbell & CO Investment Adviser LLC acquired a new stake in Mercantile Bank Corp. (NASDAQ:MBWM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,763 shares of the financial services provider’s stock, valued at approximately $287,000.

Other institutional investors have also recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in Mercantile Bank during the 2nd quarter worth $339,000. Well Done LLC bought a new position in shares of Mercantile Bank in the 2nd quarter valued at $219,000. Bessemer Group Inc. bought a new position in shares of Mercantile Bank in the 2nd quarter valued at $733,000. Aperio Group LLC bought a new position in shares of Mercantile Bank in the 2nd quarter valued at $146,000. Finally, Swiss National Bank increased its stake in shares of Mercantile Bank by 1.8% in the 2nd quarter. Swiss National Bank now owns 27,700 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Shares of MBWM opened at $34.87 on Monday. Mercantile Bank Corp. has a 52-week low of $26.40 and a 52-week high of $35.82. The business’s fifty day moving average is $32.54 and its 200-day moving average is $32.51. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $572.06 million, a price-to-earnings ratio of 13.78 and a beta of 0.83.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.14. Mercantile Bank had a return on equity of 11.55% and a net margin of 26.36%. The company had revenue of $38.28 million for the quarter, compared to analyst estimates of $36.69 million. As a group, research analysts forecast that Mercantile Bank Corp. will post 2.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be paid a $0.27 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.10%. Mercantile Bank’s payout ratio is 42.69%.

MBWM has been the topic of several recent analyst reports. Zacks Investment Research lowered Mercantile Bank from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. ValuEngine lowered Mercantile Bank from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, BidaskClub upgraded Mercantile Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 12th.

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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Institutional Ownership by Quarter for Mercantile Bank (NASDAQ:MBWM)

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