Mercantile Bank Corp. (NASDAQ:MBWM) – Equities researchers at DA Davidson increased their FY2019 EPS estimates for Mercantile Bank in a report issued on Wednesday, October 16th. DA Davidson analyst K. Reevey now expects that the financial services provider will post earnings of $2.83 per share for the year, up from their prior estimate of $2.67. DA Davidson also issued estimates for Mercantile Bank’s Q4 2019 earnings at $0.64 EPS and FY2020 earnings at $2.52 EPS.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $38.28 million during the quarter, compared to analysts’ expectations of $36.69 million. Mercantile Bank had a return on equity of 11.55% and a net margin of 26.36%.

A number of other research firms have also recently commented on MBWM. ValuEngine cut Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub upgraded Mercantile Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research cut Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th.

Mercantile Bank stock opened at $34.87 on Monday. The stock has a market cap of $572.06 million, a PE ratio of 13.78 and a beta of 0.83. The stock has a 50-day moving average price of $32.54 and a 200 day moving average price of $32.51. Mercantile Bank has a 52 week low of $26.40 and a 52 week high of $35.82. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.05.

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Mercantile Bank by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 794,415 shares of the financial services provider’s stock valued at $25,882,000 after buying an additional 6,600 shares during the period. Aperio Group LLC purchased a new stake in Mercantile Bank in the 2nd quarter valued at about $146,000. Acadian Asset Management LLC grew its holdings in Mercantile Bank by 34.9% in the 2nd quarter. Acadian Asset Management LLC now owns 70,736 shares of the financial services provider’s stock valued at $2,305,000 after buying an additional 18,315 shares during the period. Bessemer Group Inc. purchased a new stake in Mercantile Bank in the 2nd quarter valued at about $733,000. Finally, JPMorgan Chase & Co. grew its holdings in Mercantile Bank by 9.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 53,664 shares of the financial services provider’s stock valued at $1,723,000 after buying an additional 4,610 shares during the period. Institutional investors own 54.68% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, December 5th. Mercantile Bank’s dividend payout ratio (DPR) is 42.69%.

About Mercantile Bank

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for 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.

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Earnings History and Estimates for Mercantile Bank (NASDAQ:MBWM)

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