Analysts Anticipate Mercantile Bank Corp. (NASDAQ:MBWM) Will Post Earnings of $0.66 Per Share

Equities analysts expect Mercantile Bank Corp. (NASDAQ:MBWM) to announce $0.66 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Mercantile Bank’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.67. Mercantile Bank reported earnings of $0.70 per share during the same quarter last year, which would indicate a negative year over year growth rate of 5.7%. The firm is expected to announce its next quarterly earnings results on Tuesday, January 28th.

On average, analysts expect that Mercantile Bank will report full year earnings of $2.86 per share for the current financial year, with EPS estimates ranging from $2.85 to $2.87. For the next year, analysts expect that the company will report earnings of $2.49 per share, with EPS estimates ranging from $2.48 to $2.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.14. Mercantile Bank had a return on equity of 11.39% and a net margin of 26.36%. The company had revenue of $38.28 million during the quarter, compared to the consensus estimate of $36.69 million.

A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Mercantile Bank from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research downgraded Mercantile Bank from a “hold” rating to a “sell” rating in a report on Thursday, September 19th. Finally, ValuEngine raised Mercantile Bank from a “sell” rating to a “hold” rating in a report on Tuesday.

In related news, COO Robert T. Worthington sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $35.10, for a total value of $87,750.00. Following the completion of the transaction, the chief operating officer now owns 9,768 shares of the company’s stock, valued at $342,856.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael H. Price sold 2,947 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $35.48, for a total value of $104,559.56. Following the completion of the transaction, the director now directly owns 54,206 shares of the company’s stock, valued at approximately $1,923,228.88. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its stake in Mercantile Bank by 1.8% during the second quarter. Swiss National Bank now owns 27,700 shares of the financial services provider’s stock valued at $902,000 after buying an additional 500 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Mercantile Bank by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 115,672 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 574 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Mercantile Bank by 49.2% in the second quarter. Meeder Asset Management Inc. now owns 4,089 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 1,349 shares in the last quarter. Bank of Montreal Can boosted its stake in Mercantile Bank by 13.5% in the second quarter. Bank of Montreal Can now owns 11,349 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 1,349 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its stake in shares of Mercantile Bank by 0.8% during the third quarter. North Star Asset Management Inc. now owns 264,402 shares of the financial services provider’s stock worth $8,673,000 after buying an additional 1,983 shares during the period. 54.96% of the stock is owned by institutional investors and hedge funds.

Shares of MBWM traded up $0.30 during midday trading on Wednesday, reaching $35.03. 32,414 shares of the stock were exchanged, compared to its average volume of 35,606. Mercantile Bank has a twelve month low of $26.40 and a twelve month high of $36.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The company has a market cap of $575.85 million, a P/E ratio of 13.82 and a beta of 0.84. The stock’s 50 day simple moving average is $35.31 and its 200 day simple moving average is $32.92.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Thursday, December 5th. Mercantile Bank’s dividend payout ratio (DPR) is presently 42.69%.

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

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