Mercantile Bank Corp. to Post Q1 2018 Earnings of $0.54 Per Share, FIG Partners Forecasts (MBWM)

Mercantile Bank Corp. (NASDAQ:MBWM) – Analysts at FIG Partners issued their Q1 2018 earnings per share estimates for shares of Mercantile Bank in a research note issued to investors on Tuesday. FIG Partners analyst J. Rodis expects that the financial services provider will post earnings per share of $0.54 for the quarter. FIG Partners also issued estimates for Mercantile Bank’s Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.60 EPS and Q4 2018 earnings at $0.61 EPS.

Mercantile Bank (NASDAQ:MBWM) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.78% and a net margin of 21.64%. The firm had revenue of $33.25 million for the quarter, compared to the consensus estimate of $32.20 million.

Other equities analysts also recently issued research reports about the company. Hovde Group reiterated a “hold” rating and issued a $38.50 price objective on shares of Mercantile Bank in a research note on Thursday. ValuEngine downgraded Mercantile Bank from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research downgraded Mercantile Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. DA Davidson downgraded Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $34.00 price objective on shares of Mercantile Bank in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Mercantile Bank has a consensus rating of “Hold” and an average price target of $37.50.

Mercantile Bank (NASDAQ:MBWM) opened at $36.07 on Friday. Mercantile Bank has a 12 month low of $28.92 and a 12 month high of $38.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $604.62, a P/E ratio of 18.98, a PEG ratio of 1.92 and a beta of 0.68.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Mercantile Bank by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 919,589 shares of the financial services provider’s stock valued at $32,094,000 after acquiring an additional 21,408 shares during the period. Vanguard Group Inc. raised its holdings in Mercantile Bank by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 681,367 shares of the financial services provider’s stock valued at $21,449,000 after acquiring an additional 45,330 shares during the period. Renaissance Technologies LLC raised its holdings in Mercantile Bank by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 681,215 shares of the financial services provider’s stock valued at $21,445,000 after acquiring an additional 12,300 shares during the period. North Star Asset Management Inc. raised its holdings in Mercantile Bank by 1.4% during the 3rd quarter. North Star Asset Management Inc. now owns 320,769 shares of the financial services provider’s stock valued at $11,035,000 after acquiring an additional 4,353 shares during the period. Finally, State Street Corp raised its holdings in Mercantile Bank by 6.6% during the 2nd quarter. State Street Corp now owns 305,837 shares of the financial services provider’s stock valued at $9,629,000 after acquiring an additional 19,017 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Thomas R. Sullivan sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $37.29, for a total value of $216,282.00. Following the transaction, the director now owns 20,273 shares in the company, valued at $755,980.17. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas R. Sullivan sold 5,200 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.15, for a total transaction of $182,780.00. Following the sale, the director now directly owns 15,073 shares in the company, valued at approximately $529,815.95. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Friday, March 9th will be paid a $0.22 dividend. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.88 annualized dividend and a yield of 2.44%. Mercantile Bank’s dividend payout ratio is presently 40.00%.

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Mercantile Bank Company Profile

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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