Mercantile Bank Corp. (MBWM) SVP Lonna Wiersma Sells 1,000 Shares

Mercantile Bank Corp. (NASDAQ:MBWM) SVP Lonna Wiersma sold 1,000 shares of Mercantile Bank stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $31.37, for a total value of $31,370.00. Following the completion of the transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at $156,850. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of MBWM stock traded up $0.23 during mid-day trading on Friday, hitting $31.41. The company’s stock had a trading volume of 10,541 shares, compared to its average volume of 25,605. Mercantile Bank Corp. has a 52 week low of $29.60 and a 52 week high of $38.47. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. The firm has a market cap of $517.41 million, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.60 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 for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $34.55 million during the quarter, compared to analyst estimates of $34.60 million. Mercantile Bank had a return on equity of 10.33% and a net margin of 24.66%. On average, analysts forecast that Mercantile Bank Corp. will post 2.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, December 7th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 6th. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. Mercantile Bank’s dividend payout ratio (DPR) is currently 50.79%.

MBWM has been the subject of several research analyst reports. Zacks Investment Research raised Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, ValuEngine lowered Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.

Several institutional investors and hedge funds have recently modified their holdings of MBWM. FMR LLC acquired a new stake in shares of Mercantile Bank in the 3rd quarter valued at about $103,000. Ramsey Quantitative Systems boosted its stake in Mercantile Bank by 62.4% during the 3rd quarter. Ramsey Quantitative Systems now owns 4,317 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 1,658 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Mercantile Bank during the 2nd quarter valued at about $209,000. Voya Investment Management LLC acquired a new position in Mercantile Bank during the 2nd quarter valued at about $263,000. Finally, Paloma Partners Management Co acquired a new position in Mercantile Bank during the 3rd quarter valued at about $268,000. Institutional investors own 55.56% of the company’s stock.

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About Mercantile Bank

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.

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