Mercantile Bank Co. (NASDAQ:MBWM) Shares Purchased by De Lisle Partners LLP

De Lisle Partners LLP grew its holdings in shares of Mercantile Bank Co. (NASDAQ:MBWM) by 46.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,310 shares of the financial services provider’s stock after purchasing an additional 17,649 shares during the period. De Lisle Partners LLP owned 0.34% of Mercantile Bank worth $2,417,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Mercantile Bank by 77.6% during the third quarter. BNP Paribas Financial Markets now owns 7,402 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 3,235 shares during the period. FMR LLC lifted its holdings in shares of Mercantile Bank by 95.7% in the 3rd quarter. FMR LLC now owns 13,356 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 6,531 shares during the last quarter. Quantbot Technologies LP acquired a new position in Mercantile Bank during the 3rd quarter valued at approximately $89,000. Cerity Partners LLC grew its stake in Mercantile Bank by 132.9% during the 3rd quarter. Cerity Partners LLC now owns 21,451 shares of the financial services provider’s stock worth $938,000 after buying an additional 12,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Mercantile Bank by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 196,324 shares of the financial services provider’s stock worth $8,583,000 after buying an additional 8,413 shares during the period. 58.63% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mercantile Bank news, Director Robert B. Kaminski sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $49.51, for a total transaction of $198,040.00. Following the transaction, the director now owns 25,610 shares of the company’s stock, valued at approximately $1,267,951.10. This trade represents a 13.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 10,300 shares of company stock worth $519,260. 3.08% of the stock is owned by company insiders.

Mercantile Bank Stock Performance

Shares of MBWM opened at $50.53 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. Mercantile Bank Co. has a 1 year low of $33.46 and a 1 year high of $52.98. The firm has a fifty day moving average of $45.26 and a 200-day moving average of $43.02. The company has a market cap of $815.66 million, a price-to-earnings ratio of 10.15 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.18 by $0.04. The firm had revenue of $93.08 million during the quarter, compared to analysts’ expectations of $56.83 million. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, equities analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Dividend Announcement

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

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.