Claybrook Capital LLC Takes Position in Mercantile Bank Corp. (MBWM)

Share on StockTwits

Claybrook Capital LLC acquired a new position in shares of Mercantile Bank Corp. (NASDAQ:MBWM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,774 shares of the financial services provider’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in Mercantile Bank by 15.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,589 shares of the financial services provider’s stock worth $73,000 after buying an additional 347 shares during the last quarter. Prudential Financial Inc. raised its holdings in Mercantile Bank by 5.8% during the fourth quarter. Prudential Financial Inc. now owns 8,874 shares of the financial services provider’s stock worth $251,000 after buying an additional 484 shares during the last quarter. Legal & General Group Plc raised its holdings in Mercantile Bank by 24.4% during the third quarter. Legal & General Group Plc now owns 2,881 shares of the financial services provider’s stock worth $96,000 after buying an additional 566 shares during the last quarter. Citigroup Inc. raised its holdings in Mercantile Bank by 17.3% during the fourth quarter. Citigroup Inc. now owns 5,294 shares of the financial services provider’s stock worth $150,000 after buying an additional 782 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in Mercantile Bank by 36.9% during the fourth quarter. Advisor Group Inc. now owns 4,091 shares of the financial services provider’s stock worth $116,000 after buying an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 55.14% of the company’s stock.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Mercantile Bank from a “buy” rating to a “hold” rating in a report on Friday, January 25th. BidaskClub downgraded shares of Mercantile Bank from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. ValuEngine upgraded shares of Mercantile Bank from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Hovde Group restated a “hold” rating and set a $36.50 price objective on shares of Mercantile Bank in a report on Monday, January 28th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Mercantile Bank has an average rating of “Hold” and a consensus price target of $38.38.

Shares of MBWM stock opened at $33.92 on Friday. The stock has a market capitalization of $554.52 million, a PE ratio of 13.41, a PEG ratio of 1.65 and a beta of 0.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.08 and a quick ratio of 1.08. Mercantile Bank Corp. has a one year low of $26.40 and a one year high of $38.47.

Mercantile Bank (NASDAQ:MBWM) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The company had revenue of $36.19 million during the quarter, compared to the consensus estimate of $34.60 million. Mercantile Bank had a net margin of 26.10% and a return on equity of 11.22%. On average, equities research analysts anticipate that Mercantile Bank Corp. will post 2.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Friday, March 8th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 3.07%. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.25. Mercantile Bank’s dividend payout ratio is currently 41.11%.

In other news, Director Edward B. Grant sold 2,000 shares of the stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $34.33, for a total value of $68,660.00. Following the completion of the sale, the director now owns 19,043 shares in the company, valued at $653,746.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Claybrook Capital LLC Takes Position in Mercantile Bank Corp. (MBWM)” was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/4222898/claybrook-capital-llc-takes-position-in-mercantile-bank-corp-mbwm.html.

Mercantile Bank 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.

Recommended Story: Sell-Side Analysts

Want to see what other hedge funds are holding MBWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercantile Bank Corp. (NASDAQ:MBWM).

Institutional Ownership by Quarter 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.

Latest News

Fire Lotto  1-Day Trading Volume Tops $84,812.00
Fire Lotto 1-Day Trading Volume Tops $84,812.00
Analysts Set AquaVenture Holdings Ltd  Price Target at $26.13
Analysts Set AquaVenture Holdings Ltd Price Target at $26.13
Qubitica Price Tops $17.35 on Major Exchanges
Qubitica Price Tops $17.35 on Major Exchanges
POLY AI  Trading 0.5% Higher  Over Last 7 Days
POLY AI Trading 0.5% Higher Over Last 7 Days
Clearbridge LLC Has $6.29 Million Stake in Delta Air Lines, Inc.
Clearbridge LLC Has $6.29 Million Stake in Delta Air Lines, Inc.
Wyndham Destinations  Expected to Announce Earnings of $0.90 Per Share
Wyndham Destinations Expected to Announce Earnings of $0.90 Per Share


Leave a Reply

© 2006-2019 Ticker Report