Mercantile Bank Corp. (NASDAQ:MBWM) declared a quarterly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.27 per share by the financial services provider on Wednesday, December 18th. This represents a $1.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, December 5th.
Shares of NASDAQ:MBWM opened at $35.08 on Tuesday. The company has a market cap of $575.85 million, a P/E ratio of 13.87 and a beta of 0.84. The company’s fifty day moving average is $35.28 and its two-hundred day moving average is $32.91. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. Mercantile Bank has a 12-month low of $26.40 and a 12-month high of $36.69.
Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.14. Mercantile Bank had a return on equity of 11.39% and a net margin of 26.36%. The firm had revenue of $38.28 million during the quarter, compared to analyst estimates of $36.69 million. Equities research analysts anticipate that Mercantile Bank will post 2.69 earnings per share for the current year.
In other news, COO Robert T. Worthington sold 2,500 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $35.10, for a total transaction of $87,750.00. Following the transaction, the chief operating officer now owns 9,768 shares in the company, valued at approximately $342,856.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael H. Price sold 2,947 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $35.48, for a total transaction of $104,559.56. Following the transaction, the director now owns 54,206 shares in the company, valued at approximately $1,923,228.88. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.
Mercantile Bank Company Profile
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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