Mercantile Bank Co. (NASDAQ:MBWM) Director Sells $300,150.00 in Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of Mercantile Bank stock in a transaction on Monday, November 25th. The stock was sold at an average price of $51.75, for a total value of $300,150.00. Following the sale, the director now directly owns 19,810 shares of the company’s stock, valued at $1,025,167.50. This represents a 22.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Mercantile Bank Stock Performance

Shares of MBWM traded up $0.43 during midday trading on Wednesday, reaching $50.53. 57,941 shares of the stock were exchanged, compared to its average volume of 68,368. Mercantile Bank Co. has a twelve month low of $33.46 and a twelve month high of $52.98. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The company has a market cap of $815.66 million, a P/E ratio of 10.21 and a beta of 0.95. The stock’s 50 day simple moving average is $45.26 and its 200 day simple moving average is $43.02.

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, topping analysts’ consensus estimates of $1.18 by $0.04. Mercantile Bank had a return on equity of 14.59% and a net margin of 22.77%. The company had revenue of $93.08 million for the quarter, compared to analysts’ expectations of $56.83 million. During the same quarter last year, the business earned $1.30 earnings per share. On average, sell-side analysts expect that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Announces Dividend

The business 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, December 6th. Mercantile Bank’s payout ratio is currently 28.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Mercantile Bank by 2.8% in the first quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after purchasing an additional 21,616 shares during the period. Renaissance Technologies LLC grew its position in Mercantile Bank by 1.5% in the second quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock valued at $21,539,000 after acquiring an additional 8,100 shares during the last quarter. Geode Capital Management LLC grew its position in Mercantile Bank by 3.9% in the third quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock valued at $16,484,000 after acquiring an additional 14,202 shares during the last quarter. North Star Asset Management Inc. grew its position in Mercantile Bank by 0.7% in the second quarter. North Star Asset Management Inc. now owns 363,806 shares of the financial services provider’s stock valued at $14,760,000 after acquiring an additional 2,532 shares during the last quarter. Finally, American Century Companies Inc. grew its position 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 acquiring an additional 47,528 shares during the last quarter. Institutional investors own 58.63% 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.