Swiss National Bank Has $902,000 Position in Mercantile Bank Corp. (NASDAQ:MBWM)

Swiss National Bank raised its stake in shares of Mercantile Bank Corp. (NASDAQ:MBWM) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,700 shares of the financial services provider’s stock after purchasing an additional 500 shares during the quarter. Swiss National Bank’s holdings in Mercantile Bank were worth $902,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Mercantile Bank by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,131,042 shares of the financial services provider’s stock worth $31,964,000 after buying an additional 49,382 shares during the period. Victory Capital Management Inc. grew its position in shares of Mercantile Bank by 9.8% in the 1st quarter. Victory Capital Management Inc. now owns 59,837 shares of the financial services provider’s stock valued at $1,958,000 after purchasing an additional 5,337 shares during the period. Acadian Asset Management LLC grew its position in shares of Mercantile Bank by 101.6% in the 1st quarter. Acadian Asset Management LLC now owns 52,421 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 26,413 shares during the period. Rhumbline Advisers grew its position in shares of Mercantile Bank by 3.1% in the 1st quarter. Rhumbline Advisers now owns 24,019 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 717 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Mercantile Bank in the 2nd quarter valued at approximately $733,000. Institutional investors own 54.67% of the company’s stock.

Several equities analysts recently issued reports on MBWM shares. Zacks Investment Research upgraded Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded Mercantile Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday.

NASDAQ MBWM traded down $0.04 during trading on Thursday, hitting $33.09. The stock had a trading volume of 760 shares, compared to its average volume of 33,772. Mercantile Bank Corp. has a 12 month low of $26.40 and a 12 month high of $35.82. The company has a market capitalization of $542.98 million, a PE ratio of 12.92, a P/E/G ratio of 1.57 and a beta of 0.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day moving average price is $31.73 and its two-hundred day moving average price is $32.58.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Mercantile Bank had a return on equity of 10.95% and a net margin of 25.97%. The company had revenue of $37.45 million for the quarter, compared to analysts’ expectations of $35.51 million. As a group, equities analysts anticipate that Mercantile Bank Corp. will post 2.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.26. Mercantile Bank’s dividend payout ratio is currently 42.69%.

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

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