Mercantile Bank (NASDAQ:MBWM) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Mercantile Bank Co. (NASDAQ:MBWM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.29 and traded as high as $51.03. Mercantile Bank shares last traded at $49.56, with a volume of 53,333 shares.

Mercantile Bank Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market capitalization of $792.47 million, a P/E ratio of 9.93 and a beta of 0.95. The firm’s 50-day moving average is $44.32 and its 200-day moving average is $42.34.

Mercantile Bank (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. Mercantile Bank had a net margin of 22.77% and a return on equity of 14.59%. The firm had revenue of $93.08 million during the quarter, compared to analysts’ expectations of $56.83 million. During the same period in the prior year, the company posted $1.30 earnings per share. Analysts predict that Mercantile Bank Co. will post 4.87 EPS for the current fiscal year.

Mercantile Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.93%. Mercantile Bank’s dividend payout ratio is currently 28.92%.

Insider Buying and Selling at Mercantile Bank

In other Mercantile Bank news, Director Michael H. Price sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.57, for a total transaction of $227,850.00. Following the sale, the director now directly owns 21,556 shares in the company, valued at $982,306.92. This represents a 18.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 5,500 shares of company stock worth $248,920 in the last quarter. 3.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MBWM. Vanguard Group Inc. raised its position in Mercantile Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 805,334 shares of the financial services provider’s stock worth $30,997,000 after purchasing an additional 21,616 shares during the period. Renaissance Technologies LLC grew its position in Mercantile Bank by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 530,913 shares of the financial services provider’s stock valued at $21,539,000 after acquiring an additional 8,100 shares during the last quarter. North Star Asset Management Inc. increased its stake in Mercantile Bank by 0.7% in the second quarter. North Star Asset Management Inc. now owns 363,806 shares of the financial services provider’s stock worth $14,760,000 after purchasing an additional 2,532 shares during the period. American Century Companies Inc. boosted its stake in shares of Mercantile Bank by 18.2% during the second quarter. American Century Companies Inc. now owns 308,849 shares of the financial services provider’s stock valued at $12,530,000 after purchasing an additional 47,528 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Mercantile Bank by 15.4% in the second quarter. LSV Asset Management now owns 260,129 shares of the financial services provider’s stock worth $10,553,000 after purchasing an additional 34,725 shares during the last quarter. 58.63% of the stock is owned by hedge funds and other institutional investors.

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 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.