Mercantile Bank Corporation (MBWM) To Go Ex-Dividend on June 5th

Mercantile Bank Corporation (NASDAQ:MBWM) declared a quarterly dividend on Thursday, April 16th. Investors of record on Friday, June 5th will be paid a dividend of 0.39 per share by the financial services provider on Wednesday, June 17th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, June 5th.

Mercantile Bank has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Mercantile Bank has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mercantile Bank to earn $5.86 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 26.6%.

Mercantile Bank Stock Performance

Shares of MBWM opened at $52.44 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.93. Mercantile Bank has a one year low of $42.17 and a one year high of $55.77. The company has a 50-day simple moving average of $51.60 and a two-hundred day simple moving average of $50.50. The firm has a market capitalization of $905.66 million, a PE ratio of 9.42 and a beta of 0.81.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Mercantile Bank had a return on equity of 13.73% and a net margin of 24.19%.The firm had revenue of $67.59 million for the quarter, compared to the consensus estimate of $67.41 million. On average, analysts anticipate that Mercantile Bank will post 5.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MBWM shares. Wall Street Zen raised Mercantile Bank to a “hold” rating in a research note on Saturday, March 28th. Stephens assumed coverage on shares of Mercantile Bank in a research report on Wednesday, March 25th. They issued an “equal weight” rating and a $54.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.20.

Mercantile Bank Company Profile

Mercantile Bank Corporation (NASDAQ: MBWM) is the bank holding company for Mercantile Bank of Michigan, a full-service commercial bank headquartered in Grand Rapids, Michigan. Through its state-chartered subsidiary, the company provides a broad range of financial products and services to small and mid-sized businesses, professionals and consumers across West and Central Michigan.

The bank’s core offerings include deposit products such as checking, savings and money market accounts, alongside commercial and consumer loan portfolios.