Mercantile Bank Corporation (MBWM) Receiving Somewhat Favorable News Coverage, Study Shows
News coverage about Mercantile Bank Corporation (NASDAQ:MBWM) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Mercantile Bank Corporation earned a coverage optimism score of 0.07 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.7283492515584 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Mercantile Bank Corporation (NASDAQ:MBWM) traded down 0.97% during trading on Monday, hitting $31.79. 22,814 shares of the company’s stock were exchanged. The company has a market cap of $523.90 million, a price-to-earnings ratio of 16.86 and a beta of 0.67. Mercantile Bank Corporation has a 52-week low of $25.06 and a 52-week high of $38.68. The firm has a 50 day moving average price of $32.06 and a 200 day moving average price of $32.73.
Mercantile Bank Corporation (NASDAQ:MBWM) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $31.24 million during the quarter, compared to analyst estimates of $31.27 million. Mercantile Bank Corporation had a net margin of 22.25% and a return on equity of 8.92%. On average, equities research analysts predict that Mercantile Bank Corporation will post $1.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 8th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, September 7th. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. Mercantile Bank Corporation’s dividend payout ratio (DPR) is 38.30%.
A number of equities analysts have issued reports on the stock. ValuEngine upgraded shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $35.00 price objective on shares of Mercantile Bank Corporation and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, DA Davidson assumed coverage on shares of Mercantile Bank Corporation in a research report on Wednesday, July 5th. They issued a “neutral” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Mercantile Bank Corporation presently has an average rating of “Hold” and a consensus target price of $32.60.
COPYRIGHT VIOLATION NOTICE: “Mercantile Bank Corporation (MBWM) Receiving Somewhat Favorable News Coverage, Study Shows” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/08/07/mercantile-bank-corporation-mbwm-receiving-somewhat-favorable-news-coverage-study-shows.html.
In other news, Director Thomas R. Sullivan sold 2,797 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $33.24, for a total value of $92,972.28. Following the completion of the sale, the director now owns 19,523 shares in the company, valued at approximately $648,944.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Sullivan sold 3,801 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $34.23, for a total transaction of $130,108.23. Following the completion of the sale, the director now owns 19,523 shares of the company’s stock, valued at approximately $668,272.29. The disclosure for this sale can be found here. Insiders sold a total of 13,711 shares of company stock valued at $463,144 in the last 90 days. Company insiders own 3.44% 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.
Receive News & Ratings for Mercantile Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercantile Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.