Mercantile Bank (MBWM) Earning Somewhat Favorable News Coverage, Analysis Shows

News articles about Mercantile Bank (NASDAQ:MBWM) have been trending somewhat positive on Wednesday, according to Accern. The research firm scores the sentiment of news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mercantile Bank earned a media sentiment score of 0.06 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 45.2019310622998 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the media stories that may have impacted Accern Sentiment’s analysis:

Shares of Mercantile Bank (NASDAQ:MBWM) traded up $0.04 on Wednesday, reaching $34.83. The company’s stock had a trading volume of 53,700 shares, compared to its average volume of 36,381. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03. Mercantile Bank has a one year low of $28.92 and a one year high of $38.68. The firm has a market capitalization of $573.75, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.27 and a beta of 0.67.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. The company had revenue of $33.25 million for the quarter, compared to analyst estimates of $32.20 million. analysts anticipate that Mercantile Bank will post 1.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 7th. Mercantile Bank’s payout ratio is currently 39.79%.

Several brokerages recently weighed in on MBWM. BidaskClub cut Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 price target on shares of Mercantile Bank in a research report on Tuesday, October 3rd. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Thursday, September 28th. Finally, ValuEngine raised Mercantile Bank from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Mercantile Bank currently has an average rating of “Hold” and a consensus target price of $36.33.

In other news, Director Thomas R. Sullivan sold 10,739 shares of Mercantile Bank stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $37.04, for a total value of $397,772.56. Following the sale, the director now directly owns 20,273 shares of the company’s stock, valued at $750,911.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas R. Sullivan sold 5,200 shares of Mercantile Bank stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $35.15, for a total value of $182,780.00. Following the completion of the sale, the director now directly owns 15,073 shares in the company, valued at $529,815.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,739 shares of company stock worth $796,835. 3.20% of the stock is owned by corporate insiders.

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Mercantile Bank Company 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.

Insider Buying and Selling by Quarter for Mercantile Bank (NASDAQ:MBWM)

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