Media coverage about Mercantile Bank (NASDAQ:MBWM) has trended somewhat positive recently, Accern reports. The research group rates the sentiment of media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Mercantile Bank earned a news sentiment score of 0.08 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 47.7928040645454 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern’s scoring:
- Mercantile Bank Corp. to Post Q1 2018 Earnings of $0.54 Per Share, FIG Partners Forecasts (MBWM) (americanbankingnews.com)
- FY2018 EPS Estimates for Mercantile Bank Corp. (MBWM) Increased by Analyst (americanbankingnews.com)
- Mercantile Bank Corp. (MBWM) Forecasted to Post Q1 2018 Earnings of $0.58 Per Share (americanbankingnews.com)
- Mercantile Bank Corp. (MBWM) to Issue Quarterly Dividend of $0.22 (americanbankingnews.com)
- Edited Transcript of MBWM earnings conference call or presentation 16-Jan-18 3:00pm GMT (finance.yahoo.com)
Shares of Mercantile Bank (NASDAQ MBWM) traded up $0.41 during trading hours on Monday, reaching $36.48. The company’s stock had a trading volume of 39,400 shares, compared to its average volume of 42,138. The company has a market cap of $605.28, a P/E ratio of 19.20, a PEG ratio of 1.93 and a beta of 0.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. Mercantile Bank has a 52-week low of $28.92 and a 52-week high of $38.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Friday, March 9th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Thursday, March 8th. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.19. Mercantile Bank’s dividend payout ratio is 40.00%.
A number of equities research analysts recently commented on MBWM shares. BidaskClub lowered Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Mercantile Bank from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, November 1st. Sandler O’Neill set a $39.00 price target on Mercantile Bank and gave the company a “hold” rating in a research report on Wednesday, January 3rd. DA Davidson lowered Mercantile Bank from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Thursday, September 28th. Finally, ValuEngine lowered Mercantile Bank from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Mercantile Bank presently has an average rating of “Hold” and an average price target of $37.50.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,200 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $35.15, for a total value of $182,780.00. Following the completion of the transaction, the director now owns 15,073 shares in the company, valued at approximately $529,815.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas R. Sullivan sold 5,800 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $37.29, for a total value of $216,282.00. Following the completion of the transaction, the director now owns 20,273 shares of the company’s stock, valued at approximately $755,980.17. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.
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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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