Zacks: Brokerages Expect Mercantile Bank Corp. (MBWM) Will Post Earnings of $0.61 Per Share

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Brokerages expect Mercantile Bank Corp. (NASDAQ:MBWM) to post $0.61 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mercantile Bank’s earnings, with the lowest EPS estimate coming in at $0.59 and the highest estimate coming in at $0.62. Mercantile Bank posted earnings per share of $0.57 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7%. The business is expected to issue its next quarterly earnings results on Tuesday, July 16th.

According to Zacks, analysts expect that Mercantile Bank will report full year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.59. For the next fiscal year, analysts expect that the business will post earnings of $2.76 per share, with EPS estimates ranging from $2.73 to $2.80. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Mercantile Bank had a net margin of 25.74% and a return on equity of 10.88%. The business had revenue of $37.28 million for the quarter, compared to the consensus estimate of $34.67 million.

MBWM has been the topic of several analyst reports. BidaskClub raised shares of Mercantile Bank from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Hovde Group reaffirmed a “hold” rating and set a $36.50 price target on shares of Mercantile Bank in a report on Monday, January 28th. Finally, Zacks Investment Research downgraded shares of Mercantile Bank from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Four research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $38.17.

NASDAQ:MBWM traded down $1.15 during trading hours on Monday, hitting $33.04. 19,800 shares of the stock traded hands, compared to its average volume of 34,423. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.09 and a quick ratio of 1.08. Mercantile Bank has a 1 year low of $26.40 and a 1 year high of $38.47. The company has a market capitalization of $561.40 million, a P/E ratio of 13.06, a P/E/G ratio of 1.68 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, June 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, June 6th. Mercantile Bank’s payout ratio is currently 41.11%.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Mercantile Bank by 9.4% during the fourth quarter. BlackRock Inc. now owns 1,242,624 shares of the financial services provider’s stock valued at $35,115,000 after buying an additional 106,271 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mercantile Bank by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,179,226 shares of the financial services provider’s stock valued at $38,584,000 after buying an additional 48,184 shares during the last quarter. Vanguard Group Inc raised its position in shares of Mercantile Bank by 0.8% during the third quarter. Vanguard Group Inc now owns 718,648 shares of the financial services provider’s stock valued at $23,982,000 after buying an additional 5,818 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Mercantile Bank by 0.8% during the third quarter. Vanguard Group Inc. now owns 718,648 shares of the financial services provider’s stock valued at $23,982,000 after buying an additional 5,818 shares during the last quarter. Finally, Tributary Capital Management LLC raised its position in shares of Mercantile Bank by 15.5% during the first quarter. Tributary Capital Management LLC now owns 392,865 shares of the financial services provider’s stock valued at $12,855,000 after buying an additional 52,718 shares during the last quarter. Hedge funds and other institutional investors own 54.61% of the company’s stock.

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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Earnings History and Estimates for Mercantile Bank (NASDAQ:MBWM)

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