Mercantile Bank (MBWM) to Release Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will likely be issuing its quarterly earnings data before the market opens on Tuesday, April 22nd. Analysts expect the company to announce earnings of $1.19 per share and revenue of $57.57 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.99%. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Mercantile Bank Stock Performance

Mercantile Bank stock opened at $40.68 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.02. The company has a 50 day moving average price of $44.30 and a 200-day moving average price of $45.83. The company has a market capitalization of $660.44 million, a PE ratio of 8.22 and a beta of 0.86. Mercantile Bank has a fifty-two week low of $35.61 and a fifty-two week high of $52.98.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Mercantile Bank from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Wednesday, January 22nd.

Insider Buying and Selling at Mercantile Bank

In other Mercantile Bank news, Director Robert B. Kaminski sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $50.16, for a total value of $150,480.00. Following the transaction, the director now directly owns 13,810 shares of the company’s stock, valued at $692,709.60. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 7,750 shares of company stock worth $382,695 in the last 90 days. 3.20% of the stock is owned by company insiders.

About Mercantile Bank

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to 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.