Mercantile Bank (NASDAQ:MBWM) is scheduled to be issuing its quarterly earnings data before the market opens on Monday, January 15th. Analysts expect the company to announce earnings of $0.50 per share for the quarter.
Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. The company had revenue of $33.25 million during the quarter, compared to analyst estimates of $32.20 million. On average, analysts expect Mercantile Bank to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Mercantile Bank (NASDAQ:MBWM) opened at $37.45 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03. Mercantile Bank has a 12-month low of $28.92 and a 12-month high of $38.08. The stock has a market capitalization of $617.62, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.68.
In other news, Director Thomas R. Sullivan sold 10,739 shares of the business’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 approximately $750,911.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas R. Sullivan sold 5,200 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $35.15, for a total value of $182,780.00. Following the completion of the sale, the director now directly owns 15,073 shares in the company, valued at approximately $529,815.95. The disclosure for this sale can be found here. Insiders sold a total of 21,739 shares of company stock worth $796,835 in the last three months. Company insiders own 3.20% of the company’s stock.
MBWM has been the subject of a number of analyst reports. BidaskClub lowered Mercantile Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 5th. Zacks Investment Research lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Sandler O’Neill set a $39.00 price target on Mercantile Bank and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 price target on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Finally, DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.25.
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About Mercantile Bank
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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