Mercantile Bank Corporation (NASDAQ:MBWM) – Stock analysts at FIG Partners increased their FY2017 EPS estimates for Mercantile Bank Corporation in a research note issued to investors on Tuesday. FIG Partners analyst J. Rodis now anticipates that the financial services provider will post earnings of $1.89 per share for the year, up from their prior estimate of $1.86. FIG Partners also issued estimates for Mercantile Bank Corporation’s Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.50 EPS and FY2018 earnings at $2.06 EPS.

Mercantile Bank Corporation (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Mercantile Bank Corporation had a net margin of 22.18% and a return on equity of 9.00%. The firm had revenue of $33.25 million during the quarter, compared to analysts’ expectations of $32.20 million.

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Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday. 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 report on Monday, September 11th. ValuEngine upgraded shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank Corporation in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.75.

Mercantile Bank Corporation (NASDAQ MBWM) traded up 0.94% on Friday, reaching $37.65. 9,822 shares of the company’s stock were exchanged. Mercantile Bank Corporation has a 1-year low of $26.54 and a 1-year high of $38.68. The stock’s 50 day moving average price is $33.53 and its 200 day moving average price is $32.52. The firm has a market capitalization of $620.55 million, a price-to-earnings ratio of 19.97 and a beta of 0.72.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 8th will be given a $0.19 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.04%. Mercantile Bank Corporation’s payout ratio is currently 39.79%.

Institutional investors have recently bought and sold shares of the company. Dubuque Bank & Trust Co. lifted its position in shares of Mercantile Bank Corporation by 9.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 4,436 shares of the financial services provider’s stock worth $140,000 after buying an additional 366 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Mercantile Bank Corporation in the 1st quarter worth about $257,000. Menta Capital LLC bought a new position in shares of Mercantile Bank Corporation in the 1st quarter worth about $328,000. Parametric Portfolio Associates LLC lifted its position in shares of Mercantile Bank Corporation by 41.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 9,767 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,866 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of Mercantile Bank Corporation by 7.0% in the 1st quarter. American International Group Inc. now owns 9,781 shares of the financial services provider’s stock worth $336,000 after buying an additional 640 shares during the last quarter. Institutional investors own 52.86% of the company’s stock.

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.

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

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