Latest Stocks: Teachers Advisors LLC Continues to Hold Stake in Mercantile Bank Corp. (MBWM)

Latest Stocks: Teachers Advisors LLC Continues to Hold Stake in Mercantile Bank Corp. (MBWM)

Teachers Advisors LLC continued to hold its position in shares of Mercantile Bank Corp. (NASDAQ:MBWM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,016 shares of the financial services provider’s stock at the end of the fourth quarter. Teachers Advisors LLC owned 0.15% of Mercantile Bank Corp. worth $943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Numeric Investors LLC raised its position in shares of Mercantile Bank Corp. by 37.1% in the fourth quarter. Numeric Investors LLC now owns 84,692 shares of the financial services provider’s stock worth $3,193,000 after buying an additional 22,912 shares during the last quarter. Barings LLC acquired a new position in shares of Mercantile Bank Corp. during the fourth quarter worth about $290,000. Round Hill Asset Management acquired a new position in shares of Mercantile Bank Corp. during the fourth quarter worth about $1,034,000. Renaissance Technologies LLC raised its stake in Mercantile Bank Corp. by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 652,515 shares of the financial services provider’s stock valued at $24,600,000 after buying an additional 7,200 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in Mercantile Bank Corp. by 28.6% in the fourth quarter. Federated Investors Inc. PA now owns 30,198 shares of the financial services provider’s stock valued at $1,138,000 after buying an additional 6,722 shares in the last quarter. Hedge funds and other institutional investors own 47.97% of the company’s stock.

Shares of Mercantile Bank Corp. (NASDAQ:MBWM) opened at 31.23 on Tuesday. The company’s 50 day moving average is $32.75 and its 200 day moving average is $33.76. The firm has a market cap of $514.20 million, a price-to-earnings ratio of 16.46 and a beta of 0.88. Mercantile Bank Corp. has a 52-week low of $22.52 and a 52-week high of $38.68.

Mercantile Bank Corp. (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. Mercantile Bank Corp. had a net margin of 22.88% and a return on equity of 9.27%. The company had revenue of $31.36 million during the quarter, compared to analysts’ expectations of $30.64 million. Analysts anticipate that Mercantile Bank Corp. will post $1.91 earnings per share for the current year. The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Friday, June 9th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.31%. Mercantile Bank Corp.’s dividend payout ratio (DPR) is 34.87%.

Mercantile Bank Corp. (NASDAQ:MBWM) last announced its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. Mercantile Bank Corp. had a net margin of 22.88% and a return on equity of 9.27%. The company had revenue of $31.36 million during the quarter, compared to analysts’ expectations of $30.64 million. Analysts anticipate that Mercantile Bank Corp. will post $1.91 earnings per share for the current year. MBWM has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Mercantile Bank Corp. from a “sell” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods set a $35.00 price target on shares of Mercantile Bank Corp. and gave the stock a “hold” rating in a research report on Monday, April 10th. Finally, ValuEngine upgraded shares of Mercantile Bank Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.00.

In other news, Chairman Michael H. Price sold 9,535 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $35.04, for a total value of $334,106.40. Following the completion of the sale, the chairman now owns 46,726 shares of the company’s stock, valued at approximately $1,637,279.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.44% of the stock is currently owned by corporate insiders. Mercantile Bank Corp. Company Profile

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