Mercantile Bank (MBWM) to Release Quarterly Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) is set to post its quarterly earnings results before the market opens on Tuesday, October 15th. Analysts expect Mercantile Bank to post earnings of $1.18 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. Mercantile Bank had a net margin of 23.99% and a return on equity of 15.52%. The business had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $56.23 million. During the same period last year, the company earned $1.27 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 Price Performance

MBWM opened at $43.91 on Friday. The company’s 50 day simple moving average is $43.40 and its 200 day simple moving average is $40.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.02 and a current ratio of 1.03. Mercantile Bank has a 1 year low of $30.35 and a 1 year high of $51.21. The stock has a market capitalization of $708.71 million, a PE ratio of 8.68 and a beta of 0.95.

Analyst Ratings Changes

A number of brokerages have weighed in on MBWM. Piper Sandler lifted their price target on shares of Mercantile Bank from $42.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $51.00 price target (up from $47.00) on shares of Mercantile Bank in a research report on Wednesday, July 17th.

Insider Buying and Selling at Mercantile Bank

In other news, Director Robert B. Kaminski sold 3,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $48.73, for a total transaction of $146,190.00. Following the transaction, the director now directly owns 31,610 shares of the company’s stock, valued at approximately $1,540,355.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael H. Price sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.57, for a total transaction of $227,850.00. Following the transaction, the director now directly owns 21,556 shares of the company’s stock, valued at approximately $982,306.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert B. Kaminski sold 3,000 shares of Mercantile Bank stock in a transaction on Friday, July 19th. The stock was sold at an average price of $48.73, for a total transaction of $146,190.00. Following the completion of the sale, the director now owns 31,610 shares of the company’s stock, valued at approximately $1,540,355.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock valued at $491,418 over the last ninety days. Corporate insiders own 3.08% of the company’s stock.

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.