Mercantile Bank (MBWM) Scheduled to Post Quarterly Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will issue its quarterly earnings data before the market opens on Tuesday, October 15th. Analysts expect the company to announce earnings of $1.18 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. Mercantile Bank had a return on equity of 15.52% and a net margin of 23.99%. The business had revenue of $88.56 million during the quarter, compared to the consensus estimate of $56.23 million. During the same period last year, the business posted $1.27 earnings per share. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Mercantile Bank Stock Performance

NASDAQ:MBWM opened at $43.91 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.03 and a quick ratio of 1.02. The business has a fifty day simple moving average of $43.40 and a two-hundred day simple moving average of $40.86. Mercantile Bank has a 1 year low of $30.35 and a 1 year high of $51.21. The company has a market capitalization of $707.87 million, a P/E ratio of 8.51 and a beta of 0.95.

Insider Activity

In related news, Director Robert B. Kaminski sold 3,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $48.73, for a total transaction of $146,190.00. Following the completion of the transaction, the director now directly owns 31,610 shares in the company, valued at $1,540,355.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert B. Kaminski sold 2,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the transaction, the director now directly owns 29,610 shares in the company, valued at $1,421,576.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert B. Kaminski sold 3,000 shares of Mercantile Bank stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $48.73, for a total value of $146,190.00. Following the sale, the director now directly owns 31,610 shares of the company’s stock, valued at approximately $1,540,355.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,500 shares of company stock worth $491,418. 3.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler raised their target price on Mercantile Bank from $42.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $51.00 price target (up from $47.00) on shares of Mercantile Bank in a research report on Wednesday, July 17th.

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 to 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.