Analysts Offer Predictions for Mercantile Bank Corp.’s Q1 2018 Earnings (MBWM)

Mercantile Bank Corp. (NASDAQ:MBWM) – FIG Partners issued their Q1 2018 earnings per share (EPS) estimates for shares of Mercantile Bank in a research note issued to investors on Tuesday. FIG Partners analyst J. Rodis forecasts that the financial services provider will earn $0.54 per share for the quarter. FIG Partners also issued estimates for Mercantile Bank’s Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.60 EPS and Q4 2018 earnings at $0.61 EPS.

Several other brokerages have also recently commented on MBWM. BidaskClub cut Mercantile Bank from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Sandler O’Neill set a $39.00 target price on Mercantile Bank and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $34.00 target price on shares of Mercantile Bank in a report on Tuesday, October 3rd. Zacks Investment Research raised Mercantile Bank from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 2nd. Finally, DA Davidson cut Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Mercantile Bank has a consensus rating of “Hold” and a consensus target price of $37.50.

Mercantile Bank (MBWM) opened at $36.48 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $598.48, a P/E ratio of 19.20, a PEG ratio of 1.91 and a beta of 0.68. Mercantile Bank has a 52-week low of $28.92 and a 52-week high of $38.08.

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

In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,200 shares of the company’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 transaction, the director now owns 15,073 shares of the company’s stock, valued at $529,815.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas R. Sullivan sold 5,800 shares of the company’s 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 in the company, valued at approximately $755,980.17. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

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

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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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