Media coverage about Mercantile Bank Corporation (NASDAQ:MBWM) has trended somewhat positive on Wednesday, according to Accern Sentiment. The research firm identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mercantile Bank Corporation earned a news impact score of 0.23 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.9411976965668 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Mercantile Bank Corporation (NASDAQ:MBWM) opened at $35.09 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $574.74, a P/E ratio of 18.25, a PEG ratio of 2.28 and a beta of 0.70. Mercantile Bank Corporation has a 12-month low of $28.92 and a 12-month high of $38.68.
Mercantile Bank Corporation (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $33.25 million during the quarter, compared to analysts’ expectations of $32.20 million. Mercantile Bank Corporation had a return on equity of 8.91% and a net margin of 22.18%. sell-side analysts expect that Mercantile Bank Corporation will post 1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 8th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 7th. Mercantile Bank Corporation’s dividend payout ratio (DPR) is currently 39.79%.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Mercantile Bank Corporation from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $34.00 price target on shares of Mercantile Bank Corporation in a research report on Tuesday, October 3rd. DA Davidson downgraded Mercantile Bank Corporation from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, September 28th. Finally, ValuEngine raised Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Mercantile Bank Corporation currently has an average rating of “Hold” and an average price target of $35.25.
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In other Mercantile Bank Corporation news, Director Thomas R. Sullivan sold 5,800 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $37.29, for a total transaction of $216,282.00. Following the completion of the sale, the director now directly owns 20,273 shares in the company, valued at $755,980.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas R. Sullivan sold 10,739 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $37.04, for a total value of $397,772.56. Following the sale, the director now owns 20,273 shares of the company’s stock, valued at $750,911.92. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.
Mercantile Bank Corporation Company Profile
Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.
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