Equities analysts expect that Mercantile Bank Corp. (NASDAQ:MBWM) will post $0.61 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Mercantile Bank’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.61. Mercantile Bank posted earnings per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 27.1%. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, January 22nd.
On average, analysts expect that Mercantile Bank will report full-year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.44. For the next year, analysts forecast that the company will report earnings of $2.57 per share, with EPS estimates ranging from $2.54 to $2.62. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Mercantile Bank.
Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Mercantile Bank had a return on equity of 10.33% and a net margin of 24.66%. The business had revenue of $34.55 million for the quarter, compared to the consensus estimate of $34.60 million.
In related news, SVP Lonna Wiersma sold 1,000 shares of Mercantile Bank stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $31.37, for a total transaction of $31,370.00. Following the completion of the sale, the senior vice president now owns 5,000 shares of the company’s stock, valued at $156,850. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Mercantile Bank by 13.1% in the second quarter. BlackRock Inc. now owns 1,079,652 shares of the financial services provider’s stock worth $39,904,000 after buying an additional 125,179 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Mercantile Bank in the third quarter worth about $2,568,000. Renaissance Technologies LLC lifted its position in shares of Mercantile Bank by 8.0% in the second quarter. Renaissance Technologies LLC now owns 760,515 shares of the financial services provider’s stock worth $28,109,000 after buying an additional 56,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mercantile Bank by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,048,925 shares of the financial services provider’s stock worth $38,768,000 after buying an additional 56,045 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Mercantile Bank by 43.4% in the third quarter. Morgan Stanley now owns 126,949 shares of the financial services provider’s stock worth $4,236,000 after buying an additional 38,417 shares during the last quarter. 55.34% of the stock is owned by hedge funds and other institutional investors.
Shares of MBWM stock opened at $31.07 on Friday. The firm has a market cap of $510.27 million, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.73. Mercantile Bank has a 1-year low of $26.40 and a 1-year high of $38.47. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 19th. Investors of record on Friday, December 7th were given a dividend of $0.25 per share. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, December 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. Mercantile Bank’s dividend payout ratio (DPR) is presently 52.91%.
About Mercantile Bank
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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