Somewhat Positive Media Coverage Somewhat Unlikely to Impact Mercantile Bank (MBWM) Share Price
Media stories about Mercantile Bank (NASDAQ:MBWM) have been trending somewhat positive on Saturday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Mercantile Bank earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 47.4581537842919 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Several research firms have weighed in on MBWM. BidaskClub cut Mercantile Bank from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, November 1st. ValuEngine cut Mercantile Bank from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price target on shares of Mercantile Bank in a report on Tuesday, October 3rd. Finally, Hovde Group restated a “hold” rating and set a $38.50 price target on shares of Mercantile Bank in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.50.
Shares of Mercantile Bank (MBWM) opened at $35.68 on Friday. The stock has a market capitalization of $586.62, a P/E ratio of 18.78, a PEG ratio of 1.89 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. Mercantile Bank has a one year low of $28.92 and a one year high of $38.08.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Friday, March 9th will be issued a dividend of $0.22 per share. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, March 8th. Mercantile Bank’s dividend payout ratio is presently 40.00%.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,200 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.15, for a total value of $182,780.00. Following the transaction, the director now owns 15,073 shares of the company’s stock, valued at $529,815.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.
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About Mercantile Bank
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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