Mercantile Bank Corporation (MBWM) Expected to Announce Earnings of $0.48 Per Share

Equities analysts expect that Mercantile Bank Corporation (NASDAQ:MBWM) will post earnings of $0.48 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Mercantile Bank Corporation’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.48. Mercantile Bank Corporation also reported earnings of $0.48 per share in the same quarter last year. The firm is expected to report its next earnings results before the market opens on Tuesday, October 17th.

On average, analysts expect that Mercantile Bank Corporation will report full year earnings of $1.87 per share for the current fiscal year, with EPS estimates ranging from $1.86 to $1.88. For the next financial year, analysts expect that the company will post earnings of $2.10 per share, with EPS estimates ranging from $2.07 to $2.12. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Mercantile Bank Corporation.

Mercantile Bank Corporation (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $31.24 million for the quarter, compared to analyst estimates of $31.27 million. Mercantile Bank Corporation had a net margin of 22.25% and a return on equity of 8.85%.

MBWM has been the topic of a number of analyst reports. ValuEngine raised shares of Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. DA Davidson initiated coverage on shares of Mercantile Bank Corporation in a report on Wednesday, July 5th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.00.

Several large investors have recently modified their holdings of the stock. Dubuque Bank & Trust Co. boosted its holdings in shares of Mercantile Bank Corporation by 9.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 4,436 shares of the financial services provider’s stock worth $140,000 after buying an additional 366 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Mercantile Bank Corporation by 3.2% in the 1st quarter. Russell Investments Group Ltd. now owns 18,759 shares of the financial services provider’s stock worth $645,000 after buying an additional 575 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Mercantile Bank Corporation by 7.0% in the 1st quarter. American International Group Inc. now owns 9,781 shares of the financial services provider’s stock worth $336,000 after buying an additional 640 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Mercantile Bank Corporation by 3.1% in the 1st quarter. Teachers Advisors LLC now owns 25,787 shares of the financial services provider’s stock worth $887,000 after buying an additional 771 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Mercantile Bank Corporation by 4.4% in the 2nd quarter. Alliancebernstein L.P. now owns 18,800 shares of the financial services provider’s stock worth $592,000 after buying an additional 800 shares during the last quarter. 52.86% of the stock is currently owned by institutional investors.

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Mercantile Bank Corporation (NASDAQ MBWM) opened at 32.82 on Wednesday. The stock has a 50 day moving average of $30.94 and a 200 day moving average of $32.25. Mercantile Bank Corporation has a 12 month low of $26.30 and a 12 month high of $38.68. The company has a market capitalization of $540.94 million, a price-to-earnings ratio of 17.41 and a beta of 0.68.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, September 8th will be issued a $0.19 dividend. This is an increase from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, September 7th. Mercantile Bank Corporation’s payout ratio is 40.43%.

Mercantile Bank Corporation Company Profile

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.

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

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