Mercantile Bank (NASDAQ:MBWM – Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17, Yahoo Finance reports. Mercantile Bank had a return on equity of 15.80% and a net margin of 23.99%. The company had revenue of $88.56 million for the quarter, compared to analyst estimates of $56.23 million. During the same period in the previous year, the company posted $1.27 EPS.
Mercantile Bank Price Performance
MBWM opened at $49.52 on Thursday. The stock has a 50-day moving average price of $38.98 and a 200-day moving average price of $38.16. Mercantile Bank has a 12-month low of $30.12 and a 12-month high of $50.42. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $798.26 million, a P/E ratio of 9.60 and a beta of 0.98.
Mercantile Bank Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Friday, September 6th will be issued a $0.36 dividend. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, September 6th. Mercantile Bank’s dividend payout ratio is presently 27.13%.
Analyst Ratings Changes
Check Out Our Latest Stock Report on Mercantile Bank
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 to 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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