Mercantile Bank Co. (NASDAQ:MBWM) Expected to Announce Quarterly Sales of $42.73 Million

Brokerages expect Mercantile Bank Co. (NASDAQ:MBWMGet Rating) to announce sales of $42.73 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Mercantile Bank’s earnings, with the highest sales estimate coming in at $43.00 million and the lowest estimate coming in at $42.40 million. Mercantile Bank reported sales of $45.43 million during the same quarter last year, which indicates a negative year over year growth rate of 5.9%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Mercantile Bank will report full year sales of $174.30 million for the current fiscal year, with estimates ranging from $172.00 million to $175.80 million. For the next financial year, analysts expect that the business will report sales of $194.77 million, with estimates ranging from $189.00 million to $201.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Mercantile Bank.

Mercantile Bank (NASDAQ:MBWMGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Mercantile Bank had a return on equity of 13.24% and a net margin of 28.62%. The firm had revenue of $40.16 million for the quarter, compared to analysts’ expectations of $42.30 million. During the same period in the previous year, the firm earned $0.87 EPS.

A number of research analysts recently commented on MBWM shares. Raymond James raised Mercantile Bank from an “outperform” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Wednesday, March 2nd. StockNews.com started coverage on Mercantile Bank in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research cut Mercantile Bank from a “buy” rating to a “hold” rating in a report on Saturday, April 23rd.

NASDAQ MBWM opened at $31.18 on Tuesday. The stock’s 50 day moving average is $34.41 and its 200 day moving average is $35.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. Mercantile Bank has a 12 month low of $28.51 and a 12 month high of $40.01. The stock has a market cap of $493.98 million, a PE ratio of 8.81 and a beta of 1.00.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, June 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, June 2nd. Mercantile Bank’s payout ratio is 35.03%.

A number of large investors have recently added to or reduced their stakes in MBWM. Stieven Capital Advisors L.P. bought a new stake in Mercantile Bank in the 4th quarter worth approximately $4,208,000. State Street Corp increased its position in shares of Mercantile Bank by 34.0% during the 1st quarter. State Street Corp now owns 427,289 shares of the financial services provider’s stock valued at $15,135,000 after purchasing an additional 108,389 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Mercantile Bank during the 4th quarter valued at approximately $1,258,000. Vanguard Group Inc. increased its position in shares of Mercantile Bank by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 764,595 shares of the financial services provider’s stock valued at $27,082,000 after purchasing an additional 30,382 shares during the last quarter. Finally, Banc Funds Co. LLC increased its position in shares of Mercantile Bank by 5.2% during the 1st quarter. Banc Funds Co. LLC now owns 490,158 shares of the financial services provider’s stock valued at $17,361,000 after purchasing an additional 24,213 shares during the last quarter. 52.89% of the stock is currently owned by institutional investors and hedge funds.

Mercantile Bank Company Profile (Get Rating)

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.

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

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