6 days Ago By Defense World Staff
Legal & General Group Plc trimmed its position in Mercantile Bank Co. ( NASDAQ:MBWM – Free Report ) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 15,566 shares of the financial services provider’s stock after selling 785 shares during the quarter. Legal & General Group Plc owned 0.10% of Mercantile Bank worth $693,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in MBWM. Picton Mahoney Asset Management bought a new position in shares of Mercantile Bank during the fourth quarter worth approximately $29,000. Quantbot Technologies LP increased its stake 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 worth $104,000 after acquiring an additional 297 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Mercantile Bank in the 4th quarter valued at $133,000.
Sei Investments Co. bought a new position in shares of Mercantile Bank in the fourth quarter worth $201,000. Finally, Intellus Advisors LLC bought a new stake in Mercantile Bank during the fourth quarter worth about $243,000.
Institutional investors own 58.63% of the company’s stock. Analysts Set New Price Targets A number of analysts have recently weighed in on the stock.
Hovde Group raised shares of Mercantile Bank from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Wednesday, January 22nd. Piper Sandler reduced their target price on Mercantile Bank from $50.
00 to $47.50 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on Mercantile Bank from $56.
00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Mercantile Bank Stock Up 0.
9 % Shares of MBWM opened at $42.23 on Tuesday. The company has a debt-to-equity ratio of 0.
95, a quick ratio of 1.01 and a current ratio of 1.02.
Mercantile Bank Co. has a 52 week low of $35.61 and a 52 week high of $52.
98. The stock has a market capitalization of $685.60 million, a price-to-earnings ratio of 8.
53 and a beta of 0.86. The stock has a fifty day moving average of $43.
42 and a 200-day moving average of $45.81. Mercantile Bank ( NASDAQ:MBWM – Get Free Report ) last announced 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. Mercantile Bank had a return on equity of 14.29% and a net margin of 21.
99%. The firm had revenue of $57.20 million for the quarter, compared to analyst estimates of $57.
57 million. As a group, sell-side analysts anticipate that Mercantile Bank Co. will post 4.
83 earnings per share for the current fiscal year. Mercantile Bank Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, June 6th will be paid a $0.
37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.
48 annualized dividend and a dividend yield of 3.50%. Mercantile Bank’s dividend payout ratio is 30.
71%. Insider Activity at Mercantile Bank In other Mercantile Bank news, Director Robert B. Kaminski sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 11th.
The stock was sold at an average price of $50.22, for a total value of $50,220.00.
Following the sale, the director now owns 11,810 shares in the company, valued at approximately $593,098.20. The trade was a 7.
81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link . Insiders sold 1,750 shares of company stock worth $84,795 over the last three months.
Company insiders own 3.20% of the company’s stock. Mercantile Bank Profile ( Free Report ) 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. Read More Five stocks we like better than Mercantile Bank Stock Trading Terms – Stock Terms Every Investor Needs to Know Best Defense Stocks in 2025..
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