Equities analysts forecast that Mercantile Bank Corp. (NASDAQ:MBWM) will announce sales of $34.60 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Mercantile Bank’s earnings, with estimates ranging from $34.00 million to $35.00 million. Mercantile Bank posted sales of $33.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 16th.
On average, analysts expect that Mercantile Bank will report full-year sales of $137.73 million for the current fiscal year, with estimates ranging from $136.60 million to $138.30 million. For the next financial year, analysts anticipate that the business will report sales of $145.83 million per share, with estimates ranging from $145.10 million to $146.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Mercantile Bank.
Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.57 earnings per share 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 company had revenue of $33.78 million during the quarter, compared to analyst estimates of $33.87 million.
In other Mercantile Bank news, Director Michael H. Price sold 3,000 shares of Mercantile Bank stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $36.32, for a total value of $108,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of MBWM. SG Americas Securities LLC bought a new stake in shares of Mercantile Bank in the first quarter worth $102,000. US Bancorp DE grew its holdings in shares of Mercantile Bank by 119.1% in the first quarter. US Bancorp DE now owns 4,333 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 2,355 shares during the period. Well Done LLC bought a new stake in shares of Mercantile Bank in the first quarter worth $187,000. ClariVest Asset Management LLC bought a new stake in shares of Mercantile Bank in the second quarter worth $209,000. Finally, Trexquant Investment LP bought a new stake in shares of Mercantile Bank in the first quarter worth $204,000. 54.67% of the stock is owned by institutional investors and hedge funds.
MBWM stock traded down $0.45 on Wednesday, reaching $35.37. 29,300 shares of the company traded hands, compared to its average volume of 35,793. Mercantile Bank has a one year low of $28.92 and a one year 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 firm has a market cap of $594.99 million, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Friday, September 7th will be issued a $0.24 dividend. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.71%. Mercantile Bank’s dividend payout ratio (DPR) is presently 46.56%.
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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