Mercantile Bank Corp. (NASDAQ:MBWM) Stake Lowered by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its position in shares of Mercantile Bank Corp. (NASDAQ:MBWM) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,884 shares of the financial services provider’s stock after selling 2,700 shares during the quarter. Two Sigma Advisers LP owned 0.13% of Mercantile Bank worth $590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBWM. Claybrook Capital LLC bought a new position in shares of Mercantile Bank in the fourth quarter worth about $220,000. Geode Capital Management LLC lifted its holdings in shares of Mercantile Bank by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 181,056 shares of the financial services provider’s stock worth $5,116,000 after acquiring an additional 9,214 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mercantile Bank by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,131,042 shares of the financial services provider’s stock worth $31,964,000 after acquiring an additional 49,382 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Mercantile Bank by 2.6% in the fourth quarter. Northern Trust Corp now owns 210,621 shares of the financial services provider’s stock worth $5,952,000 after acquiring an additional 5,437 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Mercantile Bank by 17.3% in the fourth quarter. Citigroup Inc. now owns 5,294 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 782 shares during the last quarter. 54.61% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on MBWM. BidaskClub cut shares of Mercantile Bank from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research cut shares of Mercantile Bank from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Finally, Hovde Group reissued a “hold” rating and issued a $36.50 target price on shares of Mercantile Bank in a report on Monday, January 28th. Four research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $38.17.

NASDAQ MBWM traded down $0.12 during trading hours on Friday, reaching $34.19. The company’s stock had a trading volume of 18,254 shares, compared to its average volume of 24,112. The firm has a market cap of $561.40 million, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82. Mercantile Bank Corp. has a 52 week low of $26.40 and a 52 week high of $38.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.09 and a quick ratio of 1.08.

Mercantile Bank (NASDAQ:MBWM) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $37.28 million during the quarter, compared to analyst estimates of $34.67 million. Mercantile Bank had a net margin of 25.74% and a return on equity of 10.88%. As a group, research analysts anticipate that Mercantile Bank Corp. will post 2.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, June 7th will be issued a $0.26 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 3.04%. Mercantile Bank’s dividend payout ratio (DPR) is presently 41.11%.

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Mercantile Bank 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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Institutional Ownership by Quarter for Mercantile Bank (NASDAQ:MBWM)

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