Liberty Wealth Management LLC Purchases 4,892 Shares of Mercantile Bank Co. (NASDAQ:MBWM)

Liberty Wealth Management LLC raised its position in Mercantile Bank Co. (NASDAQ:MBWM) by 2,982.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,056 shares of the financial services provider’s stock after acquiring an additional 4,892 shares during the period. Liberty Wealth Management LLC’s holdings in Mercantile Bank were worth $167,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in MBWM. Lazard Asset Management LLC acquired a new stake in shares of Mercantile Bank in the second quarter valued at approximately $25,000. Heritage Wealth Management LLC grew its position in Mercantile Bank by 60.8% in the second quarter. Heritage Wealth Management LLC now owns 1,854 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 701 shares in the last quarter. Ameritas Investment Company LLC acquired a new stake in Mercantile Bank in the 1st quarter valued at $86,000. BNP Paribas Arbitrage SA increased its stake in Mercantile Bank by 89.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,312 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,458 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Mercantile Bank during the 1st quarter worth about $251,000. 54.03% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research downgraded Mercantile Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 22nd.

Shares of Mercantile Bank stock opened at $33.69 on Thursday. The stock has a market cap of $535.44 million, a P/E ratio of 9.57 and a beta of 1.14. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Mercantile Bank Co. has a 12-month low of $19.90 and a 12-month high of $34.47. The business’s 50 day moving average is $31.68 and its 200-day moving average is $31.57.

Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Monday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.34. Mercantile Bank had a net margin of 28.63% and a return on equity of 13.18%. The business had revenue of $45.43 million for the quarter, compared to the consensus estimate of $41.40 million. On average, sell-side analysts expect that Mercantile Bank Co. will post 3.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Friday, September 3rd were paid a $0.30 dividend. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, September 2nd. Mercantile Bank’s dividend payout ratio (DPR) is 43.17%.

Mercantile Bank Company Profile

Mercantile Bank Corp. operates as a bank holding company for Mercantile Bank of Michigan. It offers checking and savings accounts, credit and debit cards, mobile and Internet banking, business loans, mobile wallet, health savings account, and treasury management services. The company was founded on July 15, 1997 and is headquartered in Grand Rapids, MI.

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Institutional Ownership by Quarter for Mercantile Bank (NASDAQ:MBWM)

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