Q1 2021 Earnings Forecast for Mercantile Bank Corp. Issued By Piper Sandler (NASDAQ:MBWM)

Mercantile Bank Corp. (NASDAQ:MBWM) – Stock analysts at Piper Sandler reduced their Q1 2021 EPS estimates for Mercantile Bank in a research note issued to investors on Tuesday, March 24th. Piper Sandler analyst B. Nosal now anticipates that the financial services provider will post earnings of $0.38 per share for the quarter, down from their prior estimate of $0.49. Piper Sandler also issued estimates for Mercantile Bank’s Q2 2021 earnings at $0.42 EPS, Q3 2021 earnings at $0.45 EPS and Q4 2021 earnings at $0.47 EPS.

Mercantile Bank (NASDAQ:MBWM) last released its earnings results on Tuesday, January 21st. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.15. The business had revenue of $38.48 million for the quarter, compared to the consensus estimate of $36.40 million. Mercantile Bank had a net margin of 26.69% and a return on equity of 10.92%.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. ValuEngine raised shares of Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, BidaskClub downgraded shares of Mercantile Bank from a “hold” rating to a “sell” rating in a research report on Thursday.

Mercantile Bank stock opened at $21.87 on Thursday. The firm’s 50 day simple moving average is $28.21 and its 200-day simple moving average is $33.10. The company has a market cap of $345.42 million, a P/E ratio of 7.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.09 and a quick ratio of 1.09. Mercantile Bank has a fifty-two week low of $18.90 and a fifty-two week high of $37.32.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Friday, March 6th were given a $0.28 dividend. This is an increase from Mercantile Bank’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Thursday, March 5th. Mercantile Bank’s dividend payout ratio (DPR) is 43.58%.

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Mercantile Bank by 9.7% during the fourth quarter. Renaissance Technologies LLC now owns 908,613 shares of the financial services provider’s stock valued at $33,137,000 after purchasing an additional 80,098 shares in the last quarter. State Street Corp grew its position in Mercantile Bank by 5.3% during the fourth quarter. State Street Corp now owns 362,546 shares of the financial services provider’s stock valued at $13,222,000 after purchasing an additional 18,198 shares in the last quarter. Geode Capital Management LLC grew its position in Mercantile Bank by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 225,391 shares of the financial services provider’s stock valued at $8,220,000 after purchasing an additional 10,278 shares in the last quarter. Bank of New York Mellon Corp grew its position in Mercantile Bank by 12.3% during the fourth quarter. Bank of New York Mellon Corp now owns 130,174 shares of the financial services provider’s stock valued at $4,748,000 after purchasing an additional 14,291 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Mercantile Bank by 31.8% during the fourth quarter. Acadian Asset Management LLC now owns 105,470 shares of the financial services provider’s stock valued at $3,847,000 after purchasing an additional 25,454 shares in the last quarter. 56.03% of the stock is currently owned by institutional investors and hedge funds.

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 for 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.

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Earnings History and Estimates for Mercantile Bank (NASDAQ:MBWM)

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