Mercantile Bank Corporation (MBWM) Earns News Sentiment Score of 0.18
News stories about Mercantile Bank Corporation (NASDAQ:MBWM) have trended somewhat positive on Monday, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Mercantile Bank Corporation earned a news sentiment score of 0.18 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 46.0463238273699 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.
Shares of Mercantile Bank Corporation (NASDAQ MBWM) traded up 2.37% during mid-day trading on Monday, hitting $31.92. The company had a trading volume of 23,098 shares. The stock has a market cap of $526.11 million, a price-to-earnings ratio of 16.93 and a beta of 0.68. Mercantile Bank Corporation has a 52-week low of $26.30 and a 52-week high of $38.68. The stock’s 50-day moving average is $30.91 and its 200-day moving average is $32.28.
Mercantile Bank Corporation (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Mercantile Bank Corporation had a return on equity of 8.85% and a net margin of 22.25%. The firm had revenue of $31.24 million during the quarter, compared to analyst estimates of $31.27 million. Equities analysts forecast that Mercantile Bank Corporation will post $1.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 8th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, September 7th. This is an increase from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.44%. Mercantile Bank Corporation’s payout ratio is currently 40.43%.
Several brokerages have weighed in on MBWM. DA Davidson upgraded Mercantile Bank Corporation from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, September 11th. ValuEngine upgraded Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Mercantile Bank Corporation currently has a consensus rating of “Hold” and a consensus target price of $35.00.
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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