Equities analysts expect Mercantile Bank Corporation (NASDAQ:MBWM) to post sales of $32.93 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Mercantile Bank’s earnings, with estimates ranging from $32.30 million to $33.50 million. Mercantile Bank reported sales of $31.04 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The company is scheduled to report its next earnings report on Tuesday, January 16th.

According to Zacks, analysts expect that Mercantile Bank will report full year sales of $32.93 million for the current year, with estimates ranging from $127.40 million to $129.90 million. For the next year, analysts expect that the business will post sales of $137.50 million per share, with estimates ranging from $135.90 million to $140.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. The company had revenue of $33.25 million during the quarter, compared to analysts’ expectations of $32.20 million.

MBWM has been the topic of a number of analyst reports. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, October 20th. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Finally, ValuEngine upgraded Mercantile Bank from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mercantile Bank currently has a consensus rating of “Hold” and a consensus price target of $36.33.

In related news, Director Thomas R. Sullivan sold 10,739 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $37.04, for a total transaction of $397,772.56. Following the completion of the sale, the director now directly owns 20,273 shares of the company’s stock, valued at $750,911.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas R. Sullivan sold 5,200 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.15, for a total value of $182,780.00. Following the sale, the director now directly owns 15,073 shares of the company’s stock, valued at $529,815.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,739 shares of company stock valued at $796,835. Company insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MBWM. SG Americas Securities LLC bought a new position in Mercantile Bank during the third quarter valued at $144,000. Essex Investment Management Co. LLC bought a new position in Mercantile Bank during the third quarter valued at $369,000. IndexIQ Advisors LLC bought a new position in Mercantile Bank during the second quarter valued at $433,000. Parametric Portfolio Associates LLC grew its holdings in Mercantile Bank by 54.1% during the second quarter. Parametric Portfolio Associates LLC now owns 15,053 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 5,286 shares during the period. Finally, PDT Partners LLC bought a new position in Mercantile Bank during the second quarter valued at $482,000. 54.15% of the stock is owned by institutional investors and hedge funds.

Mercantile Bank (NASDAQ:MBWM) opened at $36.26 on Thursday. Mercantile Bank has a fifty-two week low of $28.92 and a fifty-two week high of $38.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $600.96, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.38 and a beta of 0.67.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.76 annualized dividend and a yield of 2.10%. Mercantile Bank’s payout ratio is currently 39.79%.

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About Mercantile Bank

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 (NASDAQ:MBWM)

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