De Lisle Partners LLP Takes Position in Mercantile Bank Corporation $MBWM

De Lisle Partners LLP acquired a new stake in shares of Mercantile Bank Corporation (NASDAQ:MBWM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 75,649 shares of the financial services provider’s stock, valued at approximately $4,346,000. De Lisle Partners LLP owned approximately 0.44% of Mercantile Bank as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ieq Capital LLC bought a new position in Mercantile Bank in the second quarter valued at about $1,017,000. Burnham & Co LLC bought a new stake in shares of Mercantile Bank during the second quarter worth about $29,000. First National Bank of Omaha acquired a new position in shares of Mercantile Bank in the second quarter valued at approximately $418,000. BlackRock Inc. acquired a new position in shares of Mercantile Bank in the second quarter valued at approximately $88,105,000. Finally, Deutsche Bank AG bought a new position in Mercantile Bank in the 2nd quarter valued at approximately $1,030,000. Institutional investors own 58.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Hovde Group lowered shares of Mercantile Bank from an “outperform” rating to a “market perform” rating and set a $62.00 target price on the stock. in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercantile Bank in a research note on Friday, June 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Mercantile Bank from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler set a $65.00 price objective on Mercantile Bank in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.40.

Mercantile Bank Stock Performance

NASDAQ:MBWM opened at $59.61 on Friday. The company has a market capitalization of $1.03 billion, a PE ratio of 10.49 and a beta of 0.79. Mercantile Bank Corporation has a fifty-two week low of $42.75 and a fifty-two week high of $62.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50 day simple moving average of $58.26 and a two-hundred day simple moving average of $54.25.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.21. Mercantile Bank had a net margin of 24.75% and a return on equity of 13.66%. The company had revenue of $68.76 million for the quarter, compared to analyst estimates of $68.81 million. Research analysts anticipate that Mercantile Bank Corporation will post 5.7 earnings per share for the current year.

Mercantile Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, September 4th will be given a $0.40 dividend. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. Mercantile Bank’s dividend payout ratio is 27.46%.

Mercantile Bank 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.