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Mercantile Bank Corp. (NASDAQ:MBWM) was upgraded by analysts at Keefe, Bruyette & Woods to an “outperform” rating in a research report issued to clients and investors on Friday.

In other Mercantile Bank Corp. news, COO Robert B. Kaminski sold 3,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $19.43, for a total value of $58,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mercantile Bank Corp. (NASDAQ:MBWM) opened at 18.82 on Friday. Mercantile Bank Corp. has a 1-year low of $18.26 and a 1-year high of $24.34. The stock has a 50-day moving average of $20.73 and a 200-day moving average of $20.60. The company has a market cap of $316.9 million and a price-to-earnings ratio of 13.26.

Mercantile Bank Corp. (NASDAQ:MBWM) last released its earnings data on Tuesday, July 22nd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.07. Analysts expect that Mercantile Bank Corp. will post $1.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Investors of record on Friday, September 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, September 10th.

Mercantile Bank Corporation is a bank holding company. The Company owns Mercantile Bank of Michigan (NASDAQ:MBWM).

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