Mercantile Bank Co. (NASDAQ:MBWM) Shares Sold by EMC Capital Management

EMC Capital Management decreased its holdings in shares of Mercantile Bank Co. (NASDAQ:MBWM) by 80.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,877 shares of the financial services provider’s stock after selling 7,723 shares during the quarter. EMC Capital Management’s holdings in Mercantile Bank were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MBWM. Mattson Financial Services LLC acquired a new position in shares of Mercantile Bank in the second quarter worth $28,000. Quantbot Technologies LP bought a new stake in Mercantile Bank in the third quarter worth $89,000. CWM LLC increased its position in 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 buying an additional 450 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mercantile Bank during the third quarter valued at about $202,000. Finally, 626 Financial LLC acquired a new stake in shares of Mercantile Bank in the third quarter worth about $213,000. 58.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Mercantile Bank

In other Mercantile Bank news, 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 sale, the director now owns 13,810 shares of the company’s stock, valued at $692,709.60. The trade was a 17.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 16,300 shares of company stock valued at $819,118 in the last quarter. Corporate insiders own 3.08% of the company’s stock.

Mercantile Bank Stock Performance

Shares of NASDAQ MBWM opened at $48.81 on Friday. Mercantile Bank Co. has a 12 month low of $33.46 and a 12 month high of $52.98. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The company has a market cap of $788.28 million, a P/E ratio of 9.86 and a beta of 1.01. The business’s 50 day moving average is $46.97 and its two-hundred day moving average is $45.73.

Mercantile Bank (NASDAQ:MBWM) last released 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 net margin of 21.99% and a return on equity of 14.29%. On average, equities analysts expect that Mercantile Bank Co. will post 4.83 EPS for the current year.

Mercantile Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.03%. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, March 7th. Mercantile Bank’s payout ratio is currently 29.09%.

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.