Mercantile Bank (MBWM) Expected to Announce Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) is expected to be releasing its earnings data before the market opens on Tuesday, January 21st. Analysts expect Mercantile Bank to post earnings of $1.15 per share and revenue of $57,328.25 billion for the quarter.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The firm had revenue of $93.08 million for the quarter, compared to the consensus estimate of $56.83 million. During the same period in the prior year, the firm posted $1.30 earnings per share. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Mercantile Bank Stock Performance

NASDAQ MBWM traded up $0.92 during mid-day trading on Wednesday, reaching $44.38. 51,458 shares of the stock were exchanged, compared to its average volume of 61,295. The business’s 50 day moving average is $47.52 and its 200-day moving average is $45.18. Mercantile Bank has a 1 year low of $33.46 and a 1 year high of $52.98. The company has a market capitalization of $716.38 million, a P/E ratio of 8.91 and a beta of 1.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02.

Insider Activity

In related news, Director Robert B. Kaminski sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $49.51, for a total value of $198,040.00. Following the completion of the sale, the director now owns 25,610 shares of the company’s stock, valued at approximately $1,267,951.10. This represents a 13.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 10,300 shares of company stock worth $521,218 over the last three months. Insiders own 3.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Mercantile Bank from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.