Equities analysts expect Mercantile Bank Corp. (NASDAQ:MBWM) to announce earnings per share (EPS) of $0.61 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mercantile Bank’s earnings. The lowest EPS estimate is $0.59 and the highest is $0.62. Mercantile Bank reported earnings per share of $0.51 in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.6%. The company is expected to announce its next earnings report before the market opens on Tuesday, October 16th.

According to Zacks, analysts expect that Mercantile Bank will report full-year earnings of $2.45 per share for the current year, with EPS estimates ranging from $2.44 to $2.46. For the next fiscal year, analysts expect that the company will post earnings of $2.62 per share, with EPS estimates ranging from $2.60 to $2.64. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Mercantile Bank had a return on equity of 9.96% and a net margin of 23.91%. The firm had revenue of $33.78 million for the quarter, compared to analysts’ expectations of $33.87 million.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. BidaskClub upgraded Mercantile Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Keefe, Bruyette & Woods boosted their price target on Mercantile Bank from $40.00 to $41.00 and gave the stock a “$36.20” rating in a report on Wednesday, July 18th. Finally, ValuEngine cut Mercantile Bank from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.

Mercantile Bank stock traded up $0.74 during midday trading on Wednesday, reaching $32.45. The company’s stock had a trading volume of 1,265 shares, compared to its average volume of 35,577. Mercantile Bank has a 52 week low of $31.26 and a 52 week high of $38.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.74. The stock has a market cap of $554.29 million, a PE ratio of 16.87, a P/E/G ratio of 1.70 and a beta of 0.63.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Friday, September 7th were issued a dividend of $0.24 per share. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, September 6th. Mercantile Bank’s payout ratio is 50.79%.

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Mercantile Bank during the first quarter worth about $102,000. US Bancorp DE grew its holdings in shares of Mercantile Bank by 119.1% during the first quarter. US Bancorp DE now owns 4,333 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 2,355 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Mercantile Bank during the second quarter worth about $209,000. Voya Investment Management LLC bought a new stake in shares of Mercantile Bank during the second quarter worth about $263,000. Finally, Well Done LLC grew its holdings in shares of Mercantile Bank by 35.5% during the second quarter. Well Done LLC now owns 7,634 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 54.66% of the company’s stock.

About Mercantile Bank

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.

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Earnings History and Estimates for Mercantile Bank (NASDAQ:MBWM)

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