Robert B. Kaminski Sells 250 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $47.05, for a total transaction of $11,762.50. Following the completion of the sale, the director now directly owns 86,730 shares in the company, valued at $4,080,646.50. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mercantile Bank Trading Up 1.3 %

Shares of MBWM opened at $49.30 on Thursday. The firm has a market capitalization of $796.20 million, a price-to-earnings ratio of 9.96 and a beta of 1.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. Mercantile Bank Co. has a 1-year low of $33.46 and a 1-year high of $52.98. The company has a 50-day moving average of $46.85 and a 200 day moving average of $45.71.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. On average, research 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. Stockholders of record on Friday, March 7th will be given a dividend of $0.37 per share. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, March 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.00%. Mercantile Bank’s dividend payout ratio is presently 29.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Hovde Group raised Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd.

Institutional Trading of Mercantile Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its holdings in Mercantile Bank by 22.2% during the 2nd quarter. Creative Planning now owns 14,571 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 2,644 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Mercantile Bank by 32.5% during the third quarter. SG Americas Securities LLC now owns 12,216 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 2,996 shares in the last quarter. CWM LLC increased its holdings in Mercantile Bank by 16.1% during the third quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $142,000 after buying an additional 450 shares during the period. 626 Financial LLC bought a new position in Mercantile Bank in the third quarter worth approximately $213,000. Finally, Trust Point Inc. lifted its holdings in Mercantile Bank by 15.1% during the third quarter. Trust Point Inc. now owns 11,636 shares of the financial services provider’s stock worth $509,000 after buying an additional 1,523 shares during the period. 58.63% of the stock is currently owned by institutional investors.

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.