Mercantile Bank (MBWM) to Release Quarterly Earnings on Monday

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.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.03%. Mercantile Bank’s dividend payout ratio (DPR) is presently 39.79%.

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.

TRADEMARK VIOLATION NOTICE: “Mercantile Bank (MBWM) to Release Quarterly Earnings on Monday” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.com-unik.info/2018/01/14/mercantile-bank-mbwm-to-release-quarterly-earnings-on-monday.html.

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.

Earnings History for Mercantile Bank (NASDAQ:MBWM)

Receive News & Ratings for Mercantile Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercantile Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit