Mercantile Bank Co. (NASDAQ:MBWM) Shares Acquired by De Lisle Partners LLP

De Lisle Partners LLP increased its position in shares of Mercantile Bank Co. (NASDAQ:MBWM) by 46.9% during the third quarter, Holdings Channel.com reports. The fund owned 55,310 shares of the financial services provider’s stock after acquiring an additional 17,649 shares during the quarter. De Lisle Partners LLP’s holdings in Mercantile Bank were worth $2,417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MBWM. Gradient Investments LLC acquired a new position in shares of Mercantile Bank in the 2nd quarter worth approximately $28,000. Mattson Financial Services LLC acquired a new position in Mercantile Bank in the second quarter worth approximately $28,000. EMC Capital Management bought a new stake in shares of Mercantile Bank during the 1st quarter worth $72,000. Quantbot Technologies LP acquired a new position in shares of Mercantile Bank in the 3rd quarter valued at $89,000. Finally, CWM LLC increased its stake in Mercantile Bank by 242.6% in the 2nd quarter. CWM LLC now owns 2,799 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,982 shares in the last quarter. 58.63% of the stock is currently owned by institutional investors.

Mercantile Bank Price Performance

MBWM stock opened at $50.53 on Thursday. Mercantile Bank Co. has a one year low of $33.46 and a one year high of $52.98. The firm has a 50-day moving average of $45.26 and a two-hundred day moving average of $43.02. The firm has a market capitalization of $815.66 million, a PE ratio of 10.15 and a beta of 0.95. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The business had revenue of $93.08 million during the quarter, compared to the consensus estimate of $56.83 million. During the same quarter in the prior year, the firm earned $1.30 EPS. On average, analysts forecast that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.85%. Mercantile Bank’s dividend payout ratio is 28.92%.

Insider Activity at Mercantile Bank

In other Mercantile Bank news, Director Robert B. Kaminski sold 5,800 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $51.75, for a total transaction of $300,150.00. Following the completion of the sale, the director now directly owns 19,810 shares in the company, valued at approximately $1,025,167.50. This trade represents a 22.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 10,300 shares of company stock valued at $519,260. Company insiders own 3.08% 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.