Mercantile Bank (MBWM) Earns Media Impact Score of 0.09
Press coverage about Mercantile Bank (NASDAQ:MBWM) has been trending somewhat positive recently, according to Accern Sentiment. The research firm scores the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Mercantile Bank earned a daily sentiment score of 0.09 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 45.8376436420402 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Reviewing Mercantile Bank (MBWM) and BOK Financial (BOKF) (americanbankingnews.com)
- $32.93 Million in Sales Expected for Mercantile Bank Corp. (MBWM) This Quarter (americanbankingnews.com)
- $0.50 Earnings Per Share Expected for Mercantile Bank Corp. (MBWM) This Quarter (americanbankingnews.com)
- Mercantile Bank (MBWM) to Release Quarterly Earnings on Monday (americanbankingnews.com)
- Mercantile Bank Corp. (MBWM) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
Several research firms have commented on MBWM. ValuEngine lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $34.00 price objective on shares of Mercantile Bank in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered Mercantile Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Mercantile Bank presently has a consensus rating of “Hold” and an average price target of $37.25.
Mercantile Bank (NASDAQ:MBWM) traded up $0.60 during trading hours on Friday, reaching $36.64. The company’s stock had a trading volume of 60,300 shares, compared to its average volume of 39,100. Mercantile Bank has a one year low of $28.92 and a one year high of $38.08. The stock has a market capitalization of $584.14, a price-to-earnings ratio of 19.18, a PEG ratio of 1.98 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73.
Mercantile Bank (NASDAQ:MBWM) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Mercantile Bank had a return on equity of 8.91% and a net margin of 22.18%. The business had revenue of $33.25 million for the quarter, compared to analyst estimates of $32.20 million. research analysts predict that Mercantile Bank will post 1.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 8th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Thursday, December 7th. Mercantile Bank’s payout ratio is 39.79%.
In other news, Director Thomas R. Sullivan sold 10,739 shares of Mercantile Bank stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $37.04, for a total transaction of $397,772.56. Following the sale, the director now directly owns 20,273 shares of the company’s stock, valued at $750,911.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas R. Sullivan sold 5,200 shares of Mercantile Bank stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.15, for a total value of $182,780.00. Following the sale, the director now directly owns 15,073 shares in the company, valued at $529,815.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,739 shares of company stock worth $796,835. Corporate insiders own 3.20% of the company’s stock.
About Mercantile Bank
Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits.
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