Insider Selling: Mercantile Bank Co. (NASDAQ:MBWM) Director Sells 250 Shares of Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 250 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $48.11, for a total transaction of $12,027.50. Following the completion of the transaction, the director now directly owns 78,486 shares of the company’s stock, valued at approximately $3,775,961.46. This represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mercantile Bank Price Performance

Shares of MBWM stock opened at $45.57 on Friday. The company has a market capitalization of $735.77 million, a PE ratio of 9.21 and a beta of 0.98. The firm has a fifty day simple moving average of $46.83 and a 200-day simple moving average of $46.16. 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 Co. has a twelve month low of $33.46 and a twelve month high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share (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%. Equities research analysts anticipate that Mercantile Bank Co. will post 4.83 earnings per share for the current fiscal year.

Mercantile Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 3.25%. Mercantile Bank’s dividend payout ratio is currently 29.90%.

Analyst Upgrades and Downgrades

MBWM has been the subject of several research analyst reports. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Mercantile Bank from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd.

Institutional Trading of Mercantile Bank

Several institutional investors have recently added to or reduced their stakes in MBWM. Picton Mahoney Asset Management acquired a new stake in Mercantile Bank in the fourth quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Mercantile Bank during the fourth quarter worth $35,000. Quantbot Technologies LP acquired a new stake in shares of Mercantile Bank during the third quarter worth $89,000. Point72 Asset Management L.P. acquired a new stake in shares of Mercantile Bank during the fourth quarter worth $102,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Mercantile Bank during the fourth quarter worth $133,000. 58.63% of the stock is owned by institutional investors and hedge funds.

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.