Mercantile Bank Corp. Hits New 52-Week High at $21.05 (MBWM)
Mercantile Bank Corp. (NASDAQ:MBWM)’s share price reached a new 52-week high on Wednesday, Analyst Ratings Network.com reports. The company traded as high as $21.05 and last traded at $20.48, with a volume of 31,449 shares traded. The stock had previously closed at $20.63.
A number of research firms have recently commented on MBWM. Analysts at Thomson Reuters/Verus upgraded shares of Mercantile Bank Corp. (NASDAQ:MBWM) from a “sell” rating to a “hold” rating in a research note to investors on Monday, September 2nd. Finally, analysts at Zacks upgraded shares of Mercantile Bank Corp. (NASDAQ:MBWM) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 31st. They now have a $21.40 price target on the stock.
Mercantile Bank Corp. has a one year low of $13.41 and a one year high of $21.05. The stock’s 50-day moving average is $19.97 and its 200-day moving average is $17.95. The company has a market cap of $177.7 million and a price-to-earnings ratio of 12.73.
Mercantile Bank Corp. (NASDAQ:MBWM) last announced its earnings results on Tuesday, July 16th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.11. On average, analysts predict that Mercantile Bank Corp. will post $1.69 earnings per share for the current fiscal year.
Mercantile Bank Corporation is a bank holding company. The Company owns Mercantile Bank of Michigan (NASDAQ:MBWM).
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