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 on Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the completion of the transaction, the director now owns 25,610 shares of the company’s stock, valued at $1,267,951.10. This trade represents a 13.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mercantile Bank Stock Performance

Shares of MBWM stock opened at $49.10 on Monday. The business has a fifty day moving average of $44.44 and a 200 day moving average of $42.51. The firm 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 1 year low of $33.46 and a 1 year high of $51.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01.

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

Mercantile Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend 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 currently 28.92%.

Institutional Investors Weigh In On Mercantile Bank

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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. Renaissance Technologies LLC grew its position in shares of Mercantile Bank by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock valued at $21,539,000 after acquiring an additional 8,100 shares during the period. Geode Capital Management LLC grew its position in shares of Mercantile Bank by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock valued at $16,484,000 after acquiring an additional 14,202 shares during the period. North Star Asset Management Inc. grew its position in shares of Mercantile Bank by 0.7% during the 2nd quarter. North Star Asset Management Inc. now owns 363,806 shares of the financial services provider’s stock valued at $14,760,000 after acquiring an additional 2,532 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Mercantile Bank by 18.2% during the 2nd quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after acquiring an additional 47,528 shares during the period. 58.63% of the stock is currently owned by institutional investors and hedge funds.

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.