Brokerages predict that Mercantile Bank Corp. (NASDAQ:MBWM) will report earnings of $0.56 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Mercantile Bank’s earnings, with estimates ranging from $0.54 to $0.58. Mercantile Bank reported earnings per share of $0.46 during the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The business is expected to report its next quarterly earnings results on Tuesday, April 17th.

On average, analysts expect that Mercantile Bank will report full year earnings of $2.37 per share for the current fiscal year, with EPS estimates ranging from $2.32 to $2.42. For the next fiscal year, analysts anticipate that the company will post earnings of $2.62 per share, with EPS estimates ranging from $2.55 to $2.70. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $32.91 million for the quarter, compared to the consensus estimate of $32.93 million. Mercantile Bank had a return on equity of 8.78% and a net margin of 21.64%.

MBWM has been the topic of a number of research analyst reports. BidaskClub lowered shares of Mercantile Bank from a “sell” rating to a “strong sell” rating in a report on Friday, January 5th. Zacks Investment Research lowered shares of Mercantile Bank from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Sandler O’Neill set a $39.00 price objective on shares of Mercantile Bank and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Hovde Group restated a “hold” rating and set a $38.50 price objective on shares of Mercantile Bank in a report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price objective on shares of Mercantile Bank in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.50.

In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,800 shares of Mercantile Bank stock in a transaction on Friday, October 27th. The shares were sold at an average price of $37.29, for a total value of $216,282.00. Following the sale, the director now directly owns 20,273 shares in the company, valued at approximately $755,980.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas R. Sullivan sold 5,200 shares of Mercantile Bank stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.15, for a total transaction of $182,780.00. Following the completion of the sale, the director now owns 15,073 shares in the company, valued at $529,815.95. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in Mercantile Bank by 11.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 71,125 shares of the financial services provider’s stock valued at $2,516,000 after buying an additional 7,532 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in Mercantile Bank by 3.1% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 89,619 shares of the financial services provider’s stock valued at $3,169,000 after buying an additional 2,704 shares during the last quarter. California Public Employees Retirement System increased its stake in Mercantile Bank by 5.2% in the 3rd quarter. California Public Employees Retirement System now owns 53,235 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 2,635 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Mercantile Bank by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 919,589 shares of the financial services provider’s stock valued at $32,094,000 after buying an additional 21,408 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Mercantile Bank by 19.8% in the 3rd quarter. Wells Fargo & Company MN now owns 44,598 shares of the financial services provider’s stock valued at $1,557,000 after buying an additional 7,376 shares during the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Shares of Mercantile Bank (MBWM) traded up $0.05 during trading hours on Thursday, hitting $35.79. 34,500 shares of the company were exchanged, compared to its average volume of 41,647. Mercantile Bank has a fifty-two week low of $28.92 and a fifty-two week high of $38.08. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $598.15, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.90 and a beta of 0.68.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Friday, March 9th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, March 8th. Mercantile Bank’s dividend payout ratio (DPR) is presently 40.00%.

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Mercantile Bank Company Profile

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.

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