Emerald Mutual Fund Advisers Trust Has $2,766,000 Position in Mercantile Bank Corporation (NASDAQ:MBWM)

Emerald Mutual Fund Advisers Trust maintained its stake in shares of Mercantile Bank Corporation (NASDAQ:MBWM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,881 shares of the financial services provider’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.53% of Mercantile Bank Corporation worth $2,766,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Mercantile Bank Corporation by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 866,358 shares of the financial services provider’s stock valued at $29,803,000 after buying an additional 34,121 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Mercantile Bank Corporation by 2.5% in the first quarter. Renaissance Technologies LLC now owns 668,915 shares of the financial services provider’s stock valued at $23,011,000 after buying an additional 16,400 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mercantile Bank Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 636,037 shares of the financial services provider’s stock valued at $21,880,000 after buying an additional 13,030 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Mercantile Bank Corporation by 12.1% in the second quarter. Tributary Capital Management LLC now owns 296,508 shares of the financial services provider’s stock valued at $9,334,000 after buying an additional 31,993 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Mercantile Bank Corporation by 7.3% in the fourth quarter. State Street Corp now owns 290,409 shares of the financial services provider’s stock valued at $10,949,000 after buying an additional 19,828 shares during the last quarter. 52.81% of the stock is owned by hedge funds and other institutional investors.

Shares of Mercantile Bank Corporation (NASDAQ:MBWM) traded up 0.26% during midday trading on Friday, hitting $30.28. 23,592 shares of the stock traded hands. The stock has a market capitalization of $499.08 million, a P/E ratio of 16.06 and a beta of 0.67. Mercantile Bank Corporation has a 52 week low of $25.52 and a 52 week high of $38.68. The firm has a 50-day moving average price of $31.71 and a 200-day moving average price of $32.57.

Mercantile Bank Corporation (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. The business had revenue of $31.24 million during the quarter, compared to analyst estimates of $31.27 million. Mercantile Bank Corporation had a net margin of 22.25% and a return on equity of 8.85%. On average, equities analysts predict that Mercantile Bank Corporation will post $1.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, September 7th. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. Mercantile Bank Corporation’s payout ratio is 38.30%.

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Several equities research analysts have commented on MBWM shares. ValuEngine raised shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Finally, DA Davidson initiated coverage on shares of Mercantile Bank Corporation in a research note on Wednesday, July 5th. They issued a “neutral” rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $32.60.

In other news, Director Thomas R. Sullivan sold 7,113 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $33.75, for a total value of $240,063.75. Following the completion of the sale, the director now owns 19,523 shares in the company, valued at approximately $658,901.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas R. Sullivan sold 3,801 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $34.23, for a total transaction of $130,108.23. Following the completion of the sale, the director now owns 19,523 shares of the company’s stock, valued at approximately $668,272.29. The disclosure for this sale can be found here. Insiders have sold a total of 13,711 shares of company stock valued at $463,144 in the last 90 days. 3.44% of the stock is currently owned by company 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.

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

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