Mercantile Bank Corporation (MBWM) Receives Media Sentiment Rating of 0.10
Media headlines about Mercantile Bank Corporation (NASDAQ:MBWM) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real time. 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 daily sentiment score of 0.10 on Accern’s scale. Accern also gave news headlines about the financial services provider an impact score of 43.7442049305782 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Mercantile Bank Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. ValuEngine upgraded Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank Corporation in a research note on Tuesday, October 3rd. Finally, DA Davidson cut Mercantile Bank Corporation from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Thursday, September 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mercantile Bank Corporation currently has a consensus rating of “Hold” and an average target price of $35.25.
Mercantile Bank Corporation (NASDAQ:MBWM) traded up $0.12 during trading on Friday, reaching $35.19. The company had a trading volume of 26,903 shares, compared to its average volume of 30,965. The stock has a market capitalization of $580.35, a PE ratio of 18.37, a PEG ratio of 2.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03. Mercantile Bank Corporation has a 12 month low of $28.92 and a 12 month high of $38.68.
Mercantile Bank Corporation (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Mercantile Bank Corporation had a return on equity of 8.91% and a net margin of 22.18%. The company had revenue of $33.25 million during the quarter, compared to analysts’ expectations of $32.20 million. equities research analysts anticipate that Mercantile Bank Corporation will post 1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. Mercantile Bank Corporation’s dividend payout ratio is presently 39.79%.
In other Mercantile Bank Corporation news, Director Thomas R. Sullivan sold 10,739 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $37.04, for a total transaction of $397,772.56. Following the completion of the sale, the director now owns 20,273 shares of the company’s stock, valued at $750,911.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas R. Sullivan sold 5,800 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $37.29, for a total value of $216,282.00. Following the sale, the director now directly owns 20,273 shares of the company’s stock, valued at approximately $755,980.17. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
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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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