Mercantile Bank Co. (MBWM) To Go Ex-Dividend on December 6th

Mercantile Bank Co. (NASDAQ:MBWM) declared a quarterly dividend on Thursday, October 10th,Zacks Dividends reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.36 per share by the financial services provider on Wednesday, December 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, December 6th.

Mercantile Bank has increased its dividend by an average of 6.2% annually over the last three years and has increased its dividend every year for the last 13 years. Mercantile Bank has a dividend payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mercantile Bank to earn $4.49 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 32.1%.

Mercantile Bank Stock Up 0.4 %

Shares of MBWM stock traded up $0.20 during trading hours on Wednesday, reaching $50.19. The company had a trading volume of 8,367 shares, compared to its average volume of 68,067. Mercantile Bank has a 12 month low of $33.46 and a 12 month high of $52.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market cap of $810.07 million, a price-to-earnings ratio of 9.94 and a beta of 0.99. The business has a fifty day simple moving average of $45.84 and a 200-day simple moving average of $43.40.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. Mercantile Bank had a return on equity of 14.59% and a net margin of 22.77%. The business had revenue of $93.08 million for the quarter, compared to analysts’ expectations of $56.83 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, research analysts expect that Mercantile Bank will post 4.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mercantile Bank news, Director Robert B. Kaminski sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the completion of the sale, the director now owns 25,610 shares in the company, valued at approximately $1,267,951.10. The trade was a 13.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 10,550 shares of company stock worth $531,660. Corporate insiders own 3.08% of the company’s stock.

About Mercantile Bank

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.