19,826 Shares in Mercantile Bank Corporation $MBWM Bought by Discipline Wealth Solutions LLC

Discipline Wealth Solutions LLC acquired a new stake in shares of Mercantile Bank Corporation (NASDAQ:MBWM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 19,826 shares of the financial services provider’s stock, valued at approximately $1,001,000. Discipline Wealth Solutions LLC owned 0.11% of Mercantile Bank at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MBWM. Kestra Advisory Services LLC bought a new stake in Mercantile Bank during the 4th quarter valued at approximately $26,000. Quadrant Capital Group LLC lifted its stake in shares of Mercantile Bank by 63.8% in the 4th quarter. Quadrant Capital Group LLC now owns 891 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 347 shares during the period. Aquatic Capital Management LLC lifted its stake in shares of Mercantile Bank by 94.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,235 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,575 shares during the period. Quantbot Technologies LP boosted its position in shares of Mercantile Bank by 251.9% during the second quarter. Quantbot Technologies LP now owns 4,370 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 3,128 shares in the last quarter. Finally, DGS Capital Management LLC bought a new stake in shares of Mercantile Bank during the fourth quarter valued at approximately $211,000. 58.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MBWM. Stephens assumed coverage on Mercantile Bank in a research report on Wednesday, March 25th. They set an “equal weight” rating and a $54.00 price objective for the company. Wall Street Zen upgraded shares of Mercantile Bank to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mercantile Bank in a research report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Mercantile Bank has a consensus rating of “Moderate Buy” and an average target price of $56.20.

Mercantile Bank Trading Up 0.4%

NASDAQ MBWM opened at $53.96 on Tuesday. Mercantile Bank Corporation has a 12 month low of $42.75 and a 12 month high of $55.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $52.41 and its 200-day moving average price is $51.35. The stock has a market cap of $931.89 million, a P/E ratio of 9.69 and a beta of 0.81.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. Mercantile Bank had a return on equity of 13.73% and a net margin of 24.19%.The firm had revenue of $67.59 million during the quarter, compared to analyst estimates of $67.41 million. As a group, equities analysts forecast that Mercantile Bank Corporation will post 5.63 EPS for the current fiscal year.

Mercantile Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, June 5th. Mercantile Bank’s dividend payout ratio is presently 28.01%.

Mercantile Bank Company Profile

Mercantile Bank Corporation (NASDAQ: MBWM) is the bank holding company for Mercantile Bank of Michigan, a full-service commercial bank headquartered in Grand Rapids, Michigan. Through its state-chartered subsidiary, the company provides a broad range of financial products and services to small and mid-sized businesses, professionals and consumers across West and Central Michigan.

The bank’s core offerings include deposit products such as checking, savings and money market accounts, alongside commercial and consumer loan portfolios.