Mercantile Bank Corp. (NASDAQ:MBWM) Expected to Announce Quarterly Sales of $35.51 Million

Equities analysts expect Mercantile Bank Corp. (NASDAQ:MBWM) to report $35.51 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Mercantile Bank’s earnings, with the lowest sales estimate coming in at $35.10 million and the highest estimate coming in at $35.74 million. Mercantile Bank reported sales of $33.78 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, July 16th.

On average, analysts expect that Mercantile Bank will report full year sales of $146.05 million for the current financial year, with estimates ranging from $145.60 million to $146.60 million. For the next year, analysts expect that the business will report sales of $153.51 million, with estimates ranging from $152.20 million to $154.30 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Mercantile Bank had a return on equity of 10.88% and a net margin of 25.74%. The firm had revenue of $37.28 million during the quarter, compared to analyst estimates of $34.67 million.

Several equities analysts recently weighed in on the company. Zacks Investment Research lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. BidaskClub upgraded Mercantile Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.17.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Mercantile Bank by 9.4% during the 4th quarter. BlackRock Inc. now owns 1,242,624 shares of the financial services provider’s stock worth $35,115,000 after buying an additional 106,271 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Mercantile Bank by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,131,042 shares of the financial services provider’s stock worth $31,964,000 after buying an additional 49,382 shares in the last quarter. Tributary Capital Management LLC increased its stake in Mercantile Bank by 15.5% during the 1st quarter. Tributary Capital Management LLC now owns 392,865 shares of the financial services provider’s stock worth $12,855,000 after buying an additional 52,718 shares in the last quarter. Northern Trust Corp increased its stake in Mercantile Bank by 2.6% during the 4th quarter. Northern Trust Corp now owns 210,621 shares of the financial services provider’s stock worth $5,952,000 after buying an additional 5,437 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Mercantile Bank by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 181,056 shares of the financial services provider’s stock worth $5,116,000 after buying an additional 9,214 shares in the last quarter. Institutional investors own 54.01% of the company’s stock.

Shares of Mercantile Bank stock opened at $31.65 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.12. Mercantile Bank has a twelve month low of $26.40 and a twelve month high of $38.47. The stock has a market capitalization of $529.48 million, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.58 and a beta of 0.83.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Friday, June 7th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.04 annualized dividend and a yield of 3.29%. Mercantile Bank’s dividend payout ratio (DPR) is currently 41.11%.

Mercantile Bank Company Profile

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.

See Also: What is Call Option Volume?

Get a free copy of the Zacks research report on Mercantile Bank (MBWM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mercantile Bank (NASDAQ:MBWM)

Receive News & Ratings for Mercantile Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercantile Bank and related companies with MarketBeat.com's FREE daily email newsletter.