Wall Street analysts expect that Mercantile Bank Corp. (NASDAQ:MBWM) will post earnings of $0.61 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Mercantile Bank’s earnings, with estimates ranging from $0.60 to $0.61. Mercantile Bank reported earnings per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 27.1%. The firm is expected to report its next quarterly earnings results on Tuesday, January 15th.

According to Zacks, analysts expect that Mercantile Bank will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.43 to $2.44. For the next financial year, analysts forecast that the firm will post earnings of $2.57 per share, with EPS estimates ranging from $2.54 to $2.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Mercantile Bank.

Mercantile Bank (NASDAQ:MBWM) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The company had revenue of $34.55 million during the quarter, compared to analysts’ expectations of $34.60 million. Mercantile Bank had a return on equity of 10.33% and a net margin of 24.66%.

MBWM has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their target price on Mercantile Bank from $40.00 to $41.00 and gave the company a “$36.20” rating in a report on Wednesday, July 18th. BidaskClub cut Mercantile Bank from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research upgraded Mercantile Bank from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, July 20th. Finally, ValuEngine cut Mercantile Bank from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Mercantile Bank currently has an average rating of “Hold” and an average target price of $39.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC purchased a new stake in Mercantile Bank in the 3rd quarter worth approximately $103,000. Ramsey Quantitative Systems lifted its holdings in Mercantile Bank by 62.4% in the 3rd quarter. Ramsey Quantitative Systems now owns 4,317 shares of the financial services provider’s stock worth $144,000 after buying an additional 1,658 shares during the period. ClariVest Asset Management LLC purchased a new stake in Mercantile Bank in the 2nd quarter worth approximately $209,000. Voya Investment Management LLC purchased a new stake in Mercantile Bank in the 2nd quarter worth approximately $263,000. Finally, Well Done LLC lifted its holdings in Mercantile Bank by 35.5% in the 2nd quarter. Well Done LLC now owns 7,634 shares of the financial services provider’s stock worth $282,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 55.13% of the company’s stock.

MBWM stock traded down $0.44 during trading on Friday, hitting $32.38. 21,981 shares of the company traded hands, compared to its average volume of 32,594. The stock has a market capitalization of $543.46 million, a PE ratio of 17.13, a P/E/G ratio of 1.68 and a beta of 0.67. Mercantile Bank has a 1 year low of $29.60 and a 1 year high of $38.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, December 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.00 annualized dividend and a yield of 3.09%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.24. Mercantile Bank’s dividend payout ratio (DPR) is 50.79%.

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

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