Deutsche Bank AG Has $661,000 Holdings in Mercantile Bank Corporation $MBWM

Deutsche Bank AG lessened its position in shares of Mercantile Bank Corporation (NASDAQ:MBWM) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,205 shares of the financial services provider’s stock after selling 1,417 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Mercantile Bank worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Mercantile Bank by 4.3% during the 4th quarter. Invesco Ltd. now owns 40,289 shares of the financial services provider’s stock worth $1,792,000 after buying an additional 1,654 shares during the period. Raymond James Financial Inc. bought a new position in shares of Mercantile Bank during the 4th quarter worth approximately $1,392,000. Barclays PLC lifted its position in shares of Mercantile Bank by 20.9% during the 4th quarter. Barclays PLC now owns 39,878 shares of the financial services provider’s stock worth $1,774,000 after buying an additional 6,897 shares during the period. Hsbc Holdings PLC lifted its position in shares of Mercantile Bank by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 8,570 shares of the financial services provider’s stock worth $384,000 after buying an additional 1,203 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Mercantile Bank by 19.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,133 shares of the financial services provider’s stock worth $273,000 after buying an additional 996 shares during the period. Institutional investors and hedge funds own 58.63% of the company’s stock.

Analyst Upgrades and Downgrades

MBWM has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on Mercantile Bank from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Piper Sandler raised their target price on Mercantile Bank from $47.50 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial upgraded Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $55.00 target price for the company in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.25.

Mercantile Bank Price Performance

Mercantile Bank stock opened at $49.14 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $798.53 million, a P/E ratio of 9.75 and a beta of 0.92. The business’s fifty day moving average is $46.95 and its two-hundred day moving average is $45.20. Mercantile Bank Corporation has a 52 week low of $37.76 and a 52 week high of $52.98.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The company had revenue of $60.90 million for the quarter, compared to analyst estimates of $60.02 million. Mercantile Bank had a return on equity of 13.52% and a net margin of 22.11%. Equities research analysts forecast that Mercantile Bank Corporation will post 4.83 earnings per share for the current fiscal year.

Mercantile Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Friday, September 5th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 5th. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. Mercantile Bank’s dividend payout ratio is presently 29.37%.

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.