Two Sigma Advisers LP Sells 1,300 Shares of Mercantile Bank Co. (NASDAQ:MBWM)

Two Sigma Advisers LP decreased its holdings in shares of Mercantile Bank Co. (NASDAQ:MBWM) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,684 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Two Sigma Advisers LP owned about 0.08% of Mercantile Bank worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quantbot Technologies LP raised its holdings in Mercantile Bank by 14.6% during the 4th quarter. Quantbot Technologies LP now owns 2,328 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Mercantile Bank by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,978 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 313 shares during the period. Victory Capital Management Inc. grew its position in shares of Mercantile Bank by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 17,550 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 410 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Mercantile Bank by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,864 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 430 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Mercantile Bank by 5.0% during the 4th quarter. Sterling Capital Management LLC now owns 9,345 shares of the financial services provider’s stock valued at $416,000 after purchasing an additional 449 shares in the last quarter. Institutional investors own 58.63% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on shares of Mercantile Bank from $50.00 to $47.50 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd.

Mercantile Bank Stock Up 1.1%

MBWM opened at $44.16 on Wednesday. The company has a fifty day moving average price of $42.70 and a 200-day moving average price of $45.54. The firm has a market capitalization of $716.94 million, a P/E ratio of 8.92 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. Mercantile Bank Co. has a one year low of $35.61 and a one year high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The firm had revenue of $57.20 million during the quarter, compared to analyst estimates of $57.57 million. Mercantile Bank had a net margin of 21.99% and a return on equity of 14.29%. Equities research analysts expect that Mercantile Bank Co. will post 4.83 earnings per share for the current fiscal year.

Mercantile Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, June 6th will be given a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 3.35%. Mercantile Bank’s dividend payout ratio (DPR) is presently 30.71%.

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.