Media stories about Mercantile Bank Corporation (NASDAQ:MBWM) have trended somewhat positive on Thursday, Accern Sentiment reports. The research group scores the sentiment of press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mercantile Bank Corporation earned a coverage optimism score of 0.14 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 45.7760001035533 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
A number of research analysts have recently commented on MBWM shares. DA Davidson raised Mercantile Bank Corporation from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, September 11th. ValuEngine raised Mercantile Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $34.00 price objective on shares of Mercantile Bank Corporation in a report on Tuesday, October 3rd. Finally, Zacks Investment Research lowered Mercantile Bank Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.67.
Mercantile Bank Corporation (MBWM) traded down 0.20% during mid-day trading on Thursday, reaching $35.77. The company’s stock had a trading volume of 12,038 shares. The company has a 50 day moving average of $32.57 and a 200-day moving average of $32.45. The stock has a market cap of $589.56 million, a PE ratio of 18.98 and a beta of 0.72. Mercantile Bank Corporation has a 52-week low of $26.50 and a 52-week high of $38.68.
Mercantile Bank Corporation (NASDAQ:MBWM) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $31.24 million for the quarter, compared to the consensus estimate of $31.27 million. Mercantile Bank Corporation had a return on equity of 8.85% and a net margin of 22.25%. Equities analysts forecast that Mercantile Bank Corporation will post $1.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Friday, September 8th were given a $0.19 dividend. This is an increase from Mercantile Bank Corporation’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 2.12%. Mercantile Bank Corporation’s dividend payout ratio is presently 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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