Mercantile Bank (MBWM) Expected to Announce Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will likely be releasing its earnings data before the market opens on Tuesday, January 21st. Analysts expect Mercantile Bank to post earnings of $1.15 per share and revenue of $57,328.25 billion for the quarter.

Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.04. The firm had revenue of $93.08 million for the quarter, compared to analysts’ expectations 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 company earned $1.30 earnings per share. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Mercantile Bank Stock Up 2.1 %

NASDAQ:MBWM traded up $0.92 during mid-day trading on Wednesday, hitting $44.38. The stock had a trading volume of 51,458 shares, compared to its average volume of 61,295. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $45.18. The company has a market capitalization of $716.38 million, a PE ratio of 8.91 and a beta of 1.01. Mercantile Bank has a twelve month low of $33.46 and a twelve 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.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Mercantile Bank from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Activity at Mercantile Bank

In related news, Director Robert B. Kaminski sold 5,800 shares of Mercantile Bank stock in a transaction on Monday, November 25th. The shares were sold at an average price of $51.75, for a total value of $300,150.00. Following the transaction, the director now directly 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 filing with the SEC, which is available at the SEC website. Insiders have sold a total of 10,300 shares of company stock worth $521,218 in the last three months. Insiders own 3.08% of the company’s stock.

About Mercantile Bank

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.