Mercantile Bank Corp. (MBWM) Forecasted to Post Q1 2018 Earnings of $0.58 Per Share

Mercantile Bank Corp. (NASDAQ:MBWM) – Stock analysts at DA Davidson boosted their Q1 2018 EPS estimates for shares of Mercantile Bank in a research report issued on Wednesday. DA Davidson analyst K. Reevey now expects that the financial services provider will post earnings of $0.58 per share for the quarter, up from their previous estimate of $0.52. DA Davidson currently has a “Neutral” rating and a $35.00 price objective on the stock. DA Davidson also issued estimates for Mercantile Bank’s Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.36 EPS and FY2019 earnings at $2.62 EPS.

A number of other brokerages have also issued reports on MBWM. BidaskClub upgraded Mercantile Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 13th. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Friday, October 20th. ValuEngine lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Hovde Group reiterated a “hold” rating and set a $38.50 target price on shares of Mercantile Bank in a research report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 target price on shares of Mercantile Bank in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.50.

Mercantile Bank (MBWM) opened at $36.44 on Thursday. Mercantile Bank has a 52-week low of $28.92 and a 52-week high of $38.08. The stock has a market capitalization of $596.34, a P/E ratio of 19.18, a PEG ratio of 1.95 and a beta of 0.68. 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 (NASDAQ:MBWM) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.78% and a net margin of 21.64%. The firm had revenue of $33.25 million for the quarter, compared to analyst estimates of $32.20 million.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Friday, March 9th will be paid a $0.22 dividend. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 8th. Mercantile Bank’s dividend payout ratio is currently 40.00%.

In related news, Director Thomas R. Sullivan sold 5,200 shares of the 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 transaction, the director now directly owns 15,073 shares of the company’s stock, valued at approximately $529,815.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas R. Sullivan sold 5,800 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $37.29, for a total value of $216,282.00. Following the completion of the transaction, the director now directly owns 20,273 shares of the company’s stock, valued at $755,980.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,739 shares of company stock valued at $796,835. 3.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Mercantile Bank by 11.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 71,125 shares of the financial services provider’s stock worth $2,516,000 after acquiring an additional 7,532 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in shares of Mercantile Bank by 3.1% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 89,619 shares of the financial services provider’s stock worth $3,169,000 after acquiring an additional 2,704 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Mercantile Bank by 5.2% in the 3rd quarter. California Public Employees Retirement System now owns 53,235 shares of the financial services provider’s stock worth $1,858,000 after acquiring an additional 2,635 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mercantile Bank by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 919,589 shares of the financial services provider’s stock worth $32,094,000 after acquiring an additional 21,408 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Mercantile Bank by 19.8% in the 3rd quarter. Wells Fargo & Company MN now owns 44,598 shares of the financial services provider’s stock worth $1,557,000 after acquiring an additional 7,376 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Mercantile Bank Corp. (MBWM) Forecasted to Post Q1 2018 Earnings of $0.58 Per Share” was published by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3144108/mercantile-bank-corp-mbwm-forecasted-to-post-q1-2018-earnings-of-0-58-per-share.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.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.