Mercantile Bank Co. (NASDAQ:MBWM) Stock Sold by Strs Ohio
Strs Ohio reduced its stake in Mercantile Bank Co. (NASDAQ: MBWM – Get Rating) stock by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund held 20,000 shares of the financial services provider after selling 1,900 shares during the period. Strs Ohio owned 0.13% of Mercantile Bank worth $708,000 at the end of last quarter.
A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in the stock. First Horizon Advisors Inc. increased its stake in Mercantile Bank by 241.1% during the fourth quarter. First Horizon Advisors Inc. now owns 764 shares of the financial services provider worth $26,000 after buying an additional 540 shares in the last quarter. UMB Bank NA MO acquired a new position in Mercantile Bank stock in Q4 worth $32,000. Victory Capital Management Inc. increased its stake in Mercantile Bank shares by 3.8% in Q4. Victory Capital Management Inc. now owns 47,000 shares of the financial services provider valued at $1,646,000 after buying an additional 1,700 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Mercantile Bank shares by 57.7% in the 4th quarter. BNP Paribas Arbitrage SA now owns 6,953 shares of the financial services provider valued at $244,000 after buying an additional 2,544 shares in the last quarter. Finally, BHZ Capital Management LP increased its stake in Mercantile Bank shares by 12.9% in the 4th quarter. BHZ Capital Management LP now owns 44,330 shares of the financial services provider valued at $1,553,000 after buying an additional 5,074 shares in the last quarter. Institutional investors and hedge funds hold 52.89% of the company’s shares.
Price performance of commercial banks
MBWM opened at $31.84 on Friday. The stock’s 50-day moving average price is $31.76 and its 200-day moving average price is $34.65. Mercantile Bank Co. has a 12-month low of $29.00 and a 12-month high of $40.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt ratio of 1.19. The company has a market capitalization of $504.35 million, a price/earnings ratio of 8.99 and a beta of 0.96.
Mercantile Bank (NASDAQ:MBWM – Get Rating) last released its results on Tuesday, April 19. The financial services provider reported earnings per share (EPS) of $0.73 for the quarter, beating the consensus estimate of $0.72 by $0.01. Mercantile Bank had a return on equity of 13.11% and a net margin of 28.62%. The company posted revenue of $40.16 million for the quarter, versus analyst estimates of $42.30 million. During the same quarter of the previous year, the company achieved EPS of $0.87. As a group, sell-side analysts expect Mercantile Bank Co. to post earnings per share of 3.3 for the current year.
Mercantile Bank dividend announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Friday, June 3 received a dividend of $0.31 per share. This represents an annualized dividend of $1.24 and a yield of 3.89%. The ex-dividend date was Thursday, June 2. Mercantile Bank’s payout rate is 35.03%.
Wall Street analysts predict growth
Separately, StockNews.com began covering Mercantile Bank in a research note on Thursday, March 31. They issued a “holding” rating on the stock.
About Mercantile Bank
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Mercantile Bank Corporation operates as a bank holding company for Mercantile Bank of Michigan which provides commercial and retail banking services to small and medium businesses and individuals in the United States. It accepts various deposit products, including checking, savings and term certificate accounts; term deposits; and certificates of deposit.
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