Mercantile Bank Corporation (NASDAQ:MBWM) Director Thomas R. Sullivan sold 5,800 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $37.29, for a total transaction of $216,282.00. Following the completion of the sale, the director now directly owns 20,273 shares in the company, valued at approximately $755,980.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mercantile Bank Corporation (MBWM) traded down 4.01% on Monday, reaching $35.70. 27,387 shares of the company traded hands. The stock has a market capitalization of $588.44 million, a price-to-earnings ratio of 18.70 and a beta of 0.71. The stock has a 50 day moving average of $34.57 and a 200-day moving average of $32.67. Mercantile Bank Corporation has a 1-year low of $27.00 and a 1-year high of $38.68.

Mercantile Bank Corporation (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $33.25 million for the quarter, compared to analyst estimates of $32.20 million. Mercantile Bank Corporation had a net margin of 22.18% and a return on equity of 9.00%. On average, equities analysts anticipate that Mercantile Bank Corporation will post $1.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.12%. Mercantile Bank Corporation’s dividend payout ratio (DPR) is presently 39.79%.

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Several equities research analysts have recently weighed in on MBWM shares. DA Davidson started coverage on shares of Mercantile Bank Corporation in a research note on Wednesday, July 5th. They issued a “neutral” rating and a $35.00 target price on the stock. Zacks Investment Research downgraded shares of Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. ValuEngine downgraded shares of Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $34.00 target price on shares of Mercantile Bank Corporation in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.75.

A number of large investors have recently modified their holdings of the business. Dubuque Bank & Trust Co. increased its stake in Mercantile Bank Corporation by 9.0% during the second quarter. Dubuque Bank & Trust Co. now owns 4,436 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 366 shares during the period. Russell Investments Group Ltd. increased its stake in Mercantile Bank Corporation by 3.2% during the first quarter. Russell Investments Group Ltd. now owns 18,759 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 575 shares during the period. American International Group Inc. increased its stake in Mercantile Bank Corporation by 7.0% during the first quarter. American International Group Inc. now owns 9,781 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 640 shares during the period. Teachers Advisors LLC increased its stake in Mercantile Bank Corporation by 3.1% during the first quarter. Teachers Advisors LLC now owns 25,787 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 771 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Mercantile Bank Corporation by 4.4% during the second quarter. Alliancebernstein L.P. now owns 18,800 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 800 shares during the period. Institutional investors own 52.69% 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.

Insider Buying and Selling by Quarter for Mercantile Bank Corporation (NASDAQ:MBWM)

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