Mercantile Bank (MBWM) Earning Somewhat Positive News Coverage, Study Shows
Media coverage about Mercantile Bank (NASDAQ:MBWM) has been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 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 coverage optimism score of 0.07 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.0736392353132 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
MBWM has been the topic of a number of research reports. BidaskClub downgraded shares of Mercantile Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 5th. Zacks Investment Research cut shares of Mercantile Bank from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Sandler O’Neill set a $39.00 price target on shares of Mercantile Bank and gave the company a “hold” rating in a report on Wednesday, January 3rd. Hovde Group restated a “hold” rating and issued a $38.50 price target on shares of Mercantile Bank in a report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $34.00 price target on shares of Mercantile Bank in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Mercantile Bank presently has an average rating of “Hold” and an average target price of $37.50.
Mercantile Bank (NASDAQ MBWM) traded down $0.28 during mid-day trading on Monday, reaching $35.40. 11,113 shares of the company were exchanged, compared to its average volume of 38,564. The firm has a market cap of $592.01, a PE ratio of 18.63, a PEG ratio of 1.88 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 has a one year low of $28.92 and a one year 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.49%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, March 8th. Mercantile Bank’s payout ratio is presently 40.00%.
In other Mercantile Bank news, Director Thomas R. Sullivan sold 5,200 shares of Mercantile Bank stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.15, for a total transaction of $182,780.00. Following the completion of the sale, the director now directly owns 15,073 shares in the company, valued at approximately $529,815.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
WARNING: This article was reported by Marea Informative and is owned by of Marea Informative. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.mareainformativa.com/2018/01/30/mercantile-bank-mbwm-earning-somewhat-positive-media-coverage-study-shows-updated-updated-updated.html.
Mercantile Bank Company Profile
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.
Receive News & Ratings for Mercantile Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercantile Bank and related companies with MarketBeat.com's FREE daily email newsletter.