Numeric Investors LLC Sells 52,445 Shares of Mercantile Bank Corporation (MBWM)

Numeric Investors LLC lessened its stake in Mercantile Bank Corporation (NASDAQ:MBWM) by 51.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,489 shares of the financial services provider’s stock after selling 52,445 shares during the quarter. Numeric Investors LLC owned about 0.30% of Mercantile Bank Corporation worth $1,558,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dubuque Bank & Trust Co. increased its holdings in shares of Mercantile Bank Corporation by 9.0% in the second quarter. Dubuque Bank & Trust Co. now owns 4,436 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 366 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Mercantile Bank Corporation in the first quarter valued at approximately $257,000. Menta Capital LLC acquired a new stake in shares of Mercantile Bank Corporation in the first quarter valued at approximately $328,000. American International Group Inc. increased its holdings in shares of Mercantile Bank Corporation by 7.0% in the first quarter. American International Group Inc. now owns 9,781 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 640 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Mercantile Bank Corporation by 41.5% in the first quarter. Parametric Portfolio Associates LLC now owns 9,767 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 2,866 shares during the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Mercantile Bank Corporation (NASDAQ:MBWM) opened at 35.14 on Monday. The firm’s 50-day moving average price is $32.12 and its 200 day moving average price is $32.42. The firm has a market cap of $579.18 million, a PE ratio of 18.64 and a beta of 0.71. Mercantile Bank Corporation has a 1-year low of $26.48 and a 1-year high of $38.68.

Mercantile Bank Corporation (NASDAQ:MBWM) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Mercantile Bank Corporation had a return on equity of 8.85% and a net margin of 22.25%. The firm had revenue of $31.24 million for the quarter, compared to analyst estimates of $31.27 million. On average, equities research analysts forecast that Mercantile Bank Corporation will post $1.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, September 8th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. Mercantile Bank Corporation’s dividend payout ratio is presently 40.43%.

ILLEGAL ACTIVITY NOTICE: “Numeric Investors LLC Sells 52,445 Shares of Mercantile Bank Corporation (MBWM)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/09/numeric-investors-llc-sells-52445-shares-of-mercantile-bank-corporation-mbwm.html.

MBWM has been the subject of several recent research reports. DA Davidson initiated coverage on Mercantile Bank Corporation in a report on Wednesday, July 5th. They issued a “neutral” rating and a $35.00 price target for the company. Zacks Investment Research cut Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. ValuEngine cut Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank Corporation in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock cur

Other large investors also recently bought and sold shares of the company. Dubuque Bank & Trust Co. increased its holdings in shares of Mercantile Bank Corporation by 9.0% in the second quarter. Dubuque Bank & Trust Co. now owns 4,436 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 366 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Mercantile Bank Corporation in the first quarter valued at approximately $257,000. Menta Capital LLC acquired a new stake in shares of Mercantile Bank Corporation in the first quarter valued at approximately $328,000. American International Group Inc. increased its holdings in shares of Mercantile Bank Corporation by 7.0% in the first quarter. American International Group Inc. now owns 9,781 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 640 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Mercantile Bank Corporation by 41.5% in the first quarter. Parametric Portfolio Associates LLC now owns 9,767 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 2,866 shares during the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Mercantile Bank Corporation (NASDAQ:MBWM) opened at 35.14 on Monday. The firm’s 50-day moving average price is $32.12 and its 200 day moving average price is $32.42. The firm has a market cap of $579.18 million, a PE ratio of 18.64 and a beta of 0.71. Mercantile Bank Corporation has a 1-year low of $26.48 and a 1-year high of $38.68.

Mercantile Bank Corporation (NASDAQ:MBWM) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Mercantile Bank Corporation had a return on equity of 8.85% and a net margin of 22.25%. The firm had revenue of $31.24 million for the quarter, compared to analyst estimates of $31.27 million. On average, equities research analysts forecast that Mercantile Bank Corporation will post $1.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, September 8th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. Mercantile Bank Corporation’s dividend payout ratio is presently 40.43%.

ILLEGAL ACTIVITY NOTICE: “Numeric Investors LLC Sells 52,445 Shares of Mercantile Bank Corporation (MBWM)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/09/numeric-investors-llc-sells-52445-shares-of-mercantile-bank-corporation-mbwm.html.

MBWM has been the subject of several recent research reports. DA Davidson initiated coverage on Mercantile Bank Corporation in a report on Wednesday, July 5th. They issued a “neutral” rating and a $35.00 price target for the company. Zacks Investment Research cut Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. ValuEngine cut Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank Corporation in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.67.

Mercantile Bank Corporation Profile

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.

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Institutional Ownership by Quarter for Mercantile Bank Corporation (NASDAQ:MBWM)

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