Mercantile Bank Corporation (MBWM) Given Media Impact Rating of 0.15
News articles about Mercantile Bank Corporation (NASDAQ:MBWM) have trended somewhat positive on Tuesday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Mercantile Bank Corporation earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 45.950717394223 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Mercantile Bank Corporation (NASDAQ:MBWM) traded up 1.30% during trading on Tuesday, reaching $31.13. The company had a trading volume of 16,666 shares. The company has a 50-day moving average price of $31.05 and a 200 day moving average price of $32.35. The stock has a market cap of $513.08 million, a PE ratio of 16.51 and a beta of 0.68. Mercantile Bank Corporation has a 52-week low of $26.04 and a 52-week high of $38.68.
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, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $31.24 million during the quarter, compared to analyst estimates of $31.27 million. Mercantile Bank Corporation had a return on equity of 8.85% and a net margin of 22.25%. On average, analysts anticipate that Mercantile Bank Corporation will post $1.88 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. Mercantile Bank Corporation’s dividend payout ratio is presently 40.43%.
A number of equities analysts have recently weighed in on the company. DA Davidson raised Mercantile Bank Corporation from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Monday. ValuEngine raised Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research cut Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.00.
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In other news, Director Thomas R. Sullivan sold 7,113 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $33.75, for a total value of $240,063.75. Following the completion of the sale, the director now owns 19,523 shares in the company, valued at $658,901.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.44% of the stock is owned by corporate insiders.
Mercantile Bank Corporation 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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