Robert B. Kaminski Sells 4,000 Shares of Mercantile Bank Co. (NASDAQ:MBWM) Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $49.51, for a total transaction of $198,040.00. Following the completion of the sale, the director now owns 25,610 shares in the company, valued at $1,267,951.10. This represents a 13.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Mercantile Bank Trading Down 0.7 %

NASDAQ:MBWM opened at $49.10 on Friday. The stock has a market capitalization of $792.47 million, a price-to-earnings ratio of 9.86 and a beta of 0.95. Mercantile Bank Co. has a 52 week low of $33.46 and a 52 week high of $51.31. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $44.44 and a 200 day moving average of $42.48.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. Mercantile Bank had a return on equity of 14.59% and a net margin of 22.77%. The firm had revenue of $93.08 million during the quarter, compared to analyst estimates of $56.83 million. During the same quarter in the prior year, the business posted $1.30 EPS. As a group, sell-side analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current fiscal year.

Mercantile Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.93%. Mercantile Bank’s payout ratio is 28.92%.

Hedge Funds Weigh In On Mercantile Bank

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC increased its stake in Mercantile Bank by 218.8% during the 2nd quarter. Inspire Investing LLC now owns 29,820 shares of the financial services provider’s stock valued at $1,210,000 after purchasing an additional 20,465 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Mercantile Bank in the first quarter valued at about $452,000. AQR Capital Management LLC lifted its holdings in shares of Mercantile Bank by 108.7% during the second quarter. AQR Capital Management LLC now owns 174,355 shares of the financial services provider’s stock worth $7,074,000 after purchasing an additional 90,802 shares during the period. American Century Companies Inc. increased its holdings in Mercantile Bank by 18.2% in the 2nd quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock worth $12,530,000 after buying an additional 47,528 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Mercantile Bank by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock valued at $30,997,000 after acquiring an additional 21,616 shares during the period. Institutional investors and hedge funds own 58.63% 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.