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.
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.
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