Segall Bryant & Hamill LLC Lowers Stock Position in Mercantile Bank Co. (NASDAQ:MBWM)

Segall Bryant & Hamill LLC lessened its position in shares of Mercantile Bank Co. (NASDAQ:MBWM) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,482 shares of the financial services provider’s stock after selling 14,439 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.68% of Mercantile Bank worth $4,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MBWM. AQR Capital Management LLC grew its position in shares of Mercantile Bank by 108.7% during the 2nd quarter. AQR Capital Management LLC now owns 174,355 shares of the financial services provider’s stock valued at $7,074,000 after acquiring an additional 90,802 shares during the period. American Century Companies Inc. grew its holdings in Mercantile Bank by 18.2% in the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after purchasing an additional 47,528 shares during the period. LSV Asset Management increased its position in shares of Mercantile Bank by 15.4% in the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock valued at $10,553,000 after buying an additional 34,725 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Mercantile Bank by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after buying an additional 21,616 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Mercantile Bank by 218.8% during the 2nd quarter. Inspire Investing LLC now owns 29,820 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 20,465 shares in the last quarter. Hedge funds and other institutional investors own 58.63% of the company’s stock.

Mercantile Bank Price Performance

Shares of NASDAQ MBWM opened at $50.39 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $813.40 million, a PE ratio of 10.12 and a beta of 0.95. Mercantile Bank Co. has a one year low of $33.46 and a one year high of $51.31. The firm has a fifty day moving average of $45.02 and a 200 day moving average of $42.82.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, topping 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 firm 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. As a group, research analysts predict that Mercantile Bank Co. will post 4.87 EPS for the current fiscal year.

Mercantile Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s payout ratio is 28.92%.

Insider Activity at Mercantile Bank

In related news, Director Michael H. Price sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.57, for a total transaction of $227,850.00. Following the completion of the sale, the director now owns 21,556 shares of the company’s stock, valued at approximately $982,306.92. This represents a 18.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert B. Kaminski sold 4,000 shares of the company’s stock in a transaction on 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. The trade was a 13.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,500 shares of company stock valued at $446,960. 3.08% of the stock is owned by insiders.

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.