Mercantile Bank Corporation (NASDAQ:MBWM) announced a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Friday, December 8th will be paid a dividend of 0.19 per share by the financial services provider on Wednesday, December 20th. This represents a $0.76 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 7th.

Shares of Mercantile Bank (NASDAQ:MBWM) opened at $36.72 on Friday. Mercantile Bank has a 1 year low of $28.92 and a 1 year high of $38.68. The firm has a market cap of $612.01, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.42 and a beta of 0.67. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Mercantile Bank had a net margin of 22.18% and a return on equity of 8.91%. The company had revenue of $33.25 million for the quarter, compared to analysts’ expectations of $32.20 million. analysts forecast that Mercantile Bank will post 1.91 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Mercantile Bank from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, October 20th. DA Davidson cut shares of Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 price objective on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Mercantile Bank from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.33.

In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,200 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.15, for a total transaction of $182,780.00. Following the transaction, the director now owns 15,073 shares in the company, valued at $529,815.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas R. Sullivan sold 5,800 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $37.29, for a total transaction of $216,282.00. Following the transaction, the director now owns 20,273 shares in the company, valued at approximately $755,980.17. The disclosure for this sale can be found here. Insiders have sold 21,739 shares of company stock worth $796,835 in the last quarter. Company insiders own 3.20% of the company’s stock.

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Mercantile Bank 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.

Dividend History for Mercantile Bank (NASDAQ:MBWM)

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