Equities analysts expect Mercantile Bank Corporation (NASDAQ:MBWM) to post $32.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Mercantile Bank Corporation’s earnings, with the highest sales estimate coming in at $32.40 million and the lowest estimate coming in at $32.10 million. Mercantile Bank Corporation posted sales of $31.73 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, October 17th.

According to Zacks, analysts expect that Mercantile Bank Corporation will report full-year sales of $32.20 million for the current year, with estimates ranging from $126.26 million to $127.80 million. For the next fiscal year, analysts forecast that the company will report sales of $136.43 million per share, with estimates ranging from $135.70 million to $137.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Mercantile Bank Corporation.

Mercantile Bank Corporation (NASDAQ:MBWM) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $31.24 million for the quarter, compared to analyst estimates of $31.27 million. Mercantile Bank Corporation had a net margin of 22.25% and a return on equity of 8.85%.

Several research analysts have recently commented on MBWM shares. ValuEngine upgraded shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. DA Davidson upgraded shares of Mercantile Bank Corporation from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Monday, September 11th. Finally, Zacks Investment Research lowered shares of Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.00.

Mercantile Bank Corporation (NASDAQ:MBWM) opened at 33.67 on Friday. Mercantile Bank Corporation has a 12-month low of $26.30 and a 12-month high of $38.68. The company’s 50 day moving average is $30.94 and its 200 day moving average is $32.25. The firm has a market cap of $554.95 million, a price-to-earnings ratio of 17.86 and a beta of 0.68.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, September 8th were paid a $0.19 dividend. The ex-dividend date was Thursday, September 7th. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.27%. Mercantile Bank Corporation’s dividend payout ratio (DPR) is presently 40.43%.

Large investors have recently bought and sold shares of the stock. Tributary Capital Management LLC acquired a new position in Mercantile Bank Corporation in the 1st quarter valued at $9,099,000. Bank of America Corp DE grew its stake in Mercantile Bank Corporation by 2.1% in the 1st quarter. Bank of America Corp DE now owns 45,900 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 926 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Mercantile Bank Corporation by 3.2% in the 1st quarter. Russell Investments Group Ltd. now owns 18,759 shares of the financial services provider’s stock valued at $645,000 after buying an additional 575 shares during the last quarter. Victory Capital Management Inc. grew its stake in Mercantile Bank Corporation by 11.9% in the 2nd quarter. Victory Capital Management Inc. now owns 46,190 shares of the financial services provider’s stock valued at $1,454,000 after buying an additional 4,920 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Mercantile Bank Corporation by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 636,037 shares of the financial services provider’s stock valued at $21,880,000 after buying an additional 13,030 shares during the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.

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About Mercantile Bank Corporation

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.

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Earnings History and Estimates for Mercantile Bank Corporation (NASDAQ:MBWM)

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