Mercantile Bank (NASDAQ:MBWM) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.10, reports. Mercantile Bank had a net margin of 21.64% and a return on equity of 8.72%.
NASDAQ MBWM opened at $34.61 on Tuesday. Mercantile Bank has a twelve month low of $28.92 and a twelve month high of $38.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $565.99, a price-to-earnings ratio of 17.95, a PEG ratio of 1.80 and a beta of 0.71.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 6,930 shares of Mercantile Bank stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $34.28, for a total transaction of $237,560.40. Following the transaction, the director now directly owns 20,143 shares in the company, valued at approximately $690,502.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
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About Mercantile Bank
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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