Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski Sells 4,000 Shares

Mercantile Bank Co. (NASDAQ:MBWM) Director Robert B. Kaminski sold 4,000 shares of Mercantile Bank stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.51, for a total value of $198,040.00. Following the transaction, the director now directly owns 25,610 shares of the company’s stock, valued at approximately $1,267,951.10. This represents a 13.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mercantile Bank Price Performance

Shares of MBWM stock traded down $0.35 during mid-day trading on Friday, reaching $49.10. The stock had a trading volume of 52,195 shares, compared to its average volume of 68,680. The company has a market cap of $792.47 million, a P/E ratio of 9.93 and a beta of 0.95. Mercantile Bank Co. has a 12-month low of $33.46 and a 12-month high of $51.31. The business has a 50-day simple moving average of $44.32 and a 200 day simple moving average of $42.34. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The company had revenue of $93.08 million for the quarter, compared to the consensus estimate of $56.83 million. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, sell-side analysts anticipate that Mercantile Bank Co. will post 4.87 earnings per share for the current year.

Mercantile Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, December 6th. Mercantile Bank’s payout ratio is 28.92%.

Institutional Trading of Mercantile Bank

Several institutional investors and hedge funds have recently made changes to their positions in MBWM. Vanguard Group Inc. increased its position in Mercantile Bank by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after purchasing an additional 21,616 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Mercantile Bank by 1.5% during the second quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock worth $21,539,000 after buying an additional 8,100 shares in the last quarter. North Star Asset Management Inc. raised its position in shares of Mercantile Bank by 0.7% in the second quarter. North Star Asset Management Inc. now owns 363,806 shares of the financial services provider’s stock valued at $14,760,000 after buying an additional 2,532 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Mercantile Bank by 18.2% during the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after buying an additional 47,528 shares during the period. Finally, LSV Asset Management boosted its position in Mercantile Bank by 15.4% during the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock worth $10,553,000 after acquiring an additional 34,725 shares during the last quarter. 58.63% of the stock is currently owned by hedge funds and other institutional investors.

Mercantile Bank Company Profile

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.