Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski Sells 5,800 Shares of Stock

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 5,800 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $51.75, for a total transaction of $300,150.00. Following the transaction, the director now owns 19,810 shares in the company, valued at $1,025,167.50. This trade represents a 22.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mercantile Bank Price Performance

Mercantile Bank stock opened at $50.53 on Thursday. Mercantile Bank Co. has a 12-month low of $33.46 and a 12-month high of $52.98. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $45.26 and a 200-day moving average price of $43.02. The firm has a market capitalization of $815.66 million, a PE ratio of 10.15 and a beta of 0.95.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. The business had revenue of $93.08 million during the quarter, compared to the consensus estimate of $56.83 million. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, equities research analysts forecast that Mercantile Bank Co. will post 4.87 EPS for the current year.

Mercantile Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, December 6th. Mercantile Bank’s payout ratio is currently 28.92%.

Institutional Trading of Mercantile Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Mercantile Bank by 3.7% during the third quarter. Principal Financial Group Inc. now owns 8,611 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 304 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Mercantile Bank by 0.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 75,720 shares of the financial services provider’s stock valued at $3,310,000 after buying an additional 400 shares in the last quarter. CWM LLC lifted its holdings in Mercantile Bank by 16.1% during the 3rd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $142,000 after buying an additional 450 shares in the last quarter. Semanteon Capital Management LP boosted its position in Mercantile Bank by 10.1% in the 3rd quarter. Semanteon Capital Management LP now owns 5,751 shares of the financial services provider’s stock valued at $251,000 after buying an additional 528 shares during the period. Finally, Rhumbline Advisers grew its stake in Mercantile Bank by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 25,321 shares of the financial services provider’s stock worth $1,027,000 after acquiring an additional 655 shares in the last quarter. Hedge funds and other institutional investors 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.