Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells 1,000 Shares of Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 1,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $50.22, for a total transaction of $50,220.00. Following the transaction, the director now owns 11,810 shares in the company, valued at $593,098.20. This trade represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mercantile Bank Stock Performance

Mercantile Bank stock opened at $49.19 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. Mercantile Bank Co. has a 12 month low of $33.46 and a 12 month high of $52.98. The company has a fifty day moving average price of $46.82 and a two-hundred day moving average price of $45.74. The company has a market cap of $794.42 million, a PE ratio of 9.94 and a beta of 1.00.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.15 by $0.07. Mercantile Bank had a net margin of 21.99% and a return on equity of 14.29%. Research analysts expect that Mercantile Bank Co. will post 4.83 earnings per share for the current year.

Mercantile Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.01%. Mercantile Bank’s dividend payout ratio is 29.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Hovde Group upgraded shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd.

Institutional Trading of Mercantile Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new position in Mercantile Bank during the 4th quarter worth $29,000. Quantbot Technologies LP acquired a new position in shares of Mercantile Bank during the third quarter valued at $89,000. KLP Kapitalforvaltning AS bought a new position in shares of Mercantile Bank during the fourth quarter worth about $133,000. CWM LLC increased its holdings in shares of Mercantile Bank by 16.1% in the 3rd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 450 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Mercantile Bank in the 4th quarter worth about $201,000. 58.63% of the stock is currently owned by institutional investors and hedge funds.

Mercantile Bank Company Profile

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.