Brokerages predict that Mercantile Bank Corp. (NASDAQ:MBWM) will report $36.80 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Mercantile Bank’s earnings. The highest sales estimate is $39.00 million and the lowest is $35.30 million. Mercantile Bank reported sales of $37.45 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The firm is scheduled to announce its next earnings report on Tuesday, July 21st.
According to Zacks, analysts expect that Mercantile Bank will report full-year sales of $152.90 million for the current financial year, with estimates ranging from $144.10 million to $166.00 million. For the next year, analysts forecast that the company will report sales of $145.20 million, with estimates ranging from $142.30 million to $148.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Mercantile Bank.
Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.18. Mercantile Bank had a net margin of 26.18% and a return on equity of 10.85%. The firm had revenue of $36.87 million during the quarter, compared to analysts’ expectations of $35.20 million.
MBWM stock traded down $0.52 during trading on Monday, reaching $21.24. The stock had a trading volume of 221,300 shares, compared to its average volume of 54,226. Mercantile Bank has a 1-year low of $18.64 and a 1-year high of $37.32. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $344.22 million, a P/E ratio of 7.43 and a beta of 1.09. The firm has a fifty day moving average price of $22.14 and a 200 day moving average price of $27.63.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend was Thursday, June 4th. Mercantile Bank’s dividend payout ratio is presently 43.58%.
In related news, Director Michael H. Price sold 8,000 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $21.20, for a total transaction of $169,600.00. Following the completion of the sale, the director now owns 45,259 shares of the company’s stock, valued at approximately $959,490.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can bought a new position in Mercantile Bank in the 4th quarter worth about $45,000. Ameritas Investment Company LLC acquired a new stake in Mercantile Bank during the first quarter valued at approximately $51,000. SG Americas Securities LLC acquired a new stake in Mercantile Bank during the fourth quarter valued at approximately $128,000. Federated Hermes Inc. lifted its stake in Mercantile Bank by 114.1% during the first quarter. Federated Hermes Inc. now owns 4,416 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 2,353 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Mercantile Bank by 26.5% during the first quarter. BNP Paribas Arbitrage SA now owns 4,957 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 54.59% 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 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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