Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $300,150.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $51.75, for a total value of $300,150.00. Following the completion of the sale, the director now directly owns 19,810 shares of the company’s stock, valued at approximately $1,025,167.50. The trade was a 22.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mercantile Bank Stock Up 0.9 %

Shares of NASDAQ MBWM traded up $0.43 during trading hours on Wednesday, hitting $50.53. The company had a trading volume of 57,941 shares, compared to its average volume of 68,368. The stock has a market capitalization of $815.66 million, a P/E ratio of 10.21 and a beta of 0.95. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The firm’s 50 day moving average is $45.26 and its 200-day moving average is $43.02.

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, beating the consensus estimate of $1.18 by $0.04. The company 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 quarter in the prior year, the firm posted $1.30 EPS. On average, analysts expect that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.

Mercantile Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s dividend payout ratio is 28.92%.

Institutional Investors Weigh In On Mercantile Bank

Hedge funds have recently added to or reduced their stakes in the business. Gradient Investments LLC acquired a new stake in Mercantile Bank during the 2nd quarter valued at $28,000. Mattson Financial Services LLC acquired a new stake in Mercantile Bank during the 2nd quarter valued at $28,000. EMC Capital Management acquired a new stake in Mercantile Bank during the 1st quarter valued at $72,000. Quantbot Technologies LP acquired a new stake in Mercantile Bank during the 3rd quarter valued at $89,000. Finally, CWM LLC lifted its holdings in Mercantile Bank by 242.6% during the 2nd quarter. CWM LLC now owns 2,799 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,982 shares during the last quarter. Institutional investors and hedge funds own 58.63% 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 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.