Robert B. Kaminski Sells 3,000 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 3,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $50.16, for a total value of $150,480.00. Following the completion of the sale, the director now owns 13,810 shares in the company, valued at $692,709.60. This represents a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mercantile Bank Stock Down 0.2 %

Shares of Mercantile Bank stock opened at $48.62 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. Mercantile Bank Co. has a 52-week low of $33.46 and a 52-week high of $52.98. The company has a market capitalization of $785.02 million, a P/E ratio of 9.82 and a beta of 1.01. The company has a 50 day moving average of $47.01 and a 200 day moving average of $45.68.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. As a group, research analysts forecast that Mercantile Bank Co. will post 4.68 EPS for the current fiscal year.

Mercantile Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be paid a $0.37 dividend. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 7th. Mercantile Bank’s dividend payout ratio is currently 29.90%.

Analyst Upgrades and Downgrades

MBWM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Mercantile Bank from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Hovde Group upgraded shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research note on Wednesday, January 22nd.

Institutional Trading of Mercantile Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mattson Financial Services LLC purchased a new position in shares of Mercantile Bank in the 2nd quarter valued at $28,000. Quantbot Technologies LP acquired a new position in Mercantile Bank in the third quarter valued at $89,000. CWM LLC grew its holdings in shares of Mercantile Bank by 16.1% during the third quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 450 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mercantile Bank during the third quarter worth about $202,000. Finally, 626 Financial LLC purchased a new stake in shares of Mercantile Bank in the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 58.63% 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.