Mercantile Bank Corp. (MBWM) Shares Bought by First National Bank of Omaha

First National Bank of Omaha boosted its position in Mercantile Bank Corp. (NASDAQ:MBWM) by 12.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 29,575 shares of the financial services provider’s stock after buying an additional 3,255 shares during the period. First National Bank of Omaha’s holdings in Mercantile Bank were worth $987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MBWM. BlackRock Inc. increased its stake in Mercantile Bank by 13.1% in the 2nd quarter. BlackRock Inc. now owns 1,079,652 shares of the financial services provider’s stock valued at $39,904,000 after purchasing an additional 125,179 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Mercantile Bank in the 3rd quarter valued at approximately $2,568,000. Renaissance Technologies LLC increased its position in Mercantile Bank by 8.0% during the second quarter. Renaissance Technologies LLC now owns 760,515 shares of the financial services provider’s stock worth $28,109,000 after buying an additional 56,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Mercantile Bank by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,048,925 shares of the financial services provider’s stock worth $38,768,000 after buying an additional 56,045 shares in the last quarter. Finally, Millennium Management LLC increased its position in Mercantile Bank by 40.2% during the first quarter. Millennium Management LLC now owns 129,062 shares of the financial services provider’s stock worth $4,291,000 after buying an additional 37,032 shares in the last quarter. 55.13% of the stock is owned by hedge funds and other institutional investors.

MBWM stock opened at $32.75 on Thursday. Mercantile Bank Corp. has a 52-week low of $29.60 and a 52-week high of $38.47. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market cap of $540.81 million, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.67.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. Mercantile Bank had a return on equity of 10.33% and a net margin of 24.66%. The business had revenue of $34.55 million for the quarter, compared to analysts’ expectations of $34.60 million. As a group, equities research analysts predict that Mercantile Bank Corp. will post 2.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.25 per share. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Mercantile Bank’s dividend payout ratio (DPR) is 50.79%.

Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. BidaskClub raised Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Keefe, Bruyette & Woods raised their price target on Mercantile Bank from $40.00 to $41.00 and gave the stock a “$36.20” rating in a research report on Wednesday, July 18th. Finally, ValuEngine downgraded Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.00.

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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 for 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.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding MBWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercantile Bank Corp. (NASDAQ:MBWM).

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

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