Mercantile Bank Corporation (NASDAQ: MBWM) is -41.76% lower on its value in year-to-date trading and has touched a low of $18.64 and a high of $37.32 in the current 52-week trading range. The MBWM stock was last observed hovering at around $21.76 in the last trading session, with the day’s loss setting it -0.52% off its average median price target of $25.25 for the next 12 months. It is also 26.76% off the consensus price target high of $29.00 offered by 5 analysts, but current levels are 3.45% higher than the price target low of $22.00 for the same period.
Currently trading at $21.24, the stock is -6.56% and -4.36% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.22 million and changing -2.39% at the moment leaves the stock -28.11% off its SMA200. MBWM registered -33.83% loss for a year compared to 6-month loss of -41.97%. The firm has a 50-day simple moving average (SMA 50) of $22.21 and a 200-day simple moving average (SMA200) of $27.26.
The stock witnessed a -9.96% gain in the last 1 month and extending the period to 3 months gives it a 4.84%, and is -3.01% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.06% over the week and 5.23% over the month.
Mercantile Bank Corporation (MBWM) has around 570 employees, a market worth around $349.82M and $157.60M in sales. Current P/E ratio is 7.20 and Fwd P/E is 16.26. Profit margin for the company is 30.60%. Distance from 52-week low is 13.95% and -43.08% from its 52-week high. The company has generated returns on investments over the last 12 months (24.10%).
Mercantile Bank Corporation (MBWM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Mercantile Bank Corporation (MBWM) is a “Hold”. 5 analysts offering their recommendations for the stock have an average rating of 2.80, where 4 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Mercantile Bank Corporation is expected to release its quarterly report on 07/21/2020 and quarterly earnings per share for the current quarter are estimated at $0.36 with sales reaching $37.66M over the same period.The EPS is expected to grow by 19.10% this year, but quarterly earnings will post 1.30% year-over-year.
Mercantile Bank Corporation (MBWM) Top Institutional Holders
170 institutions hold shares in Mercantile Bank Corporation (MBWM), with 1.43M shares held by insiders accounting for 8.84% while institutional investors hold 63.15% of the company’s shares. The shares outstanding are 16.35M, and float is at 14.76M with Short Float at 1.70%. Institutions hold 57.57% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 1.39 million shares valued at $29.41 million. The investor’s holdings represent 8.57% of the MBWM Shares outstanding. As of Mar 30, 2020, the second largest holder is Dimensional Fund Advisors LP with 1.2 million shares valued at $25.36 million to account for 7.39% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 0.92 million shares representing 5.66% and valued at over $19.41 million, while Vanguard Group, Inc. (The) holds 4.80% of the shares totaling 0.78 million with a market value of $16.46 million.
Mercantile Bank Corporation (MBWM) Insider Activity
A total of 8 insider transactions have happened at Mercantile Bank Corporation (MBWM) in the last six months, with sales accounting for 1 and purchases happening 7 times. The most recent transaction is an insider purchase by Eldridge Michelle Larabee, the company’s Director. SEC filings show that Eldridge Michelle Larabee bought 900 shares of the company’s common stock on May 07 at a price of $21.30 per share for a total of $19170.0. Following the purchase, the insider now owns 6750.0 shares.
Mercantile Bank Corporation disclosed in a document filed with the SEC on May 07 that Eldridge Michelle Larabee (Director) bought a total of 100 shares of the company’s common stock. The trade occurred on May 07 and was made at $21.30 per share for $2130.0. Following the transaction, the insider now directly holds 5736.0 shares of the MBWM stock.
Still, SEC filings show that on Apr 24, PRICE MICHAEL H (Director) disposed off 8,000 shares at an average price of $21.20 for $0.17 million. The insider now directly holds 45,259 shares of Mercantile Bank Corporation (MBWM).
Mercantile Bank Corporation (MBWM): Who are the competitors?
The company’s main competitors (and peers) include Genco Shipping & Trading Limited (GNK) that is trading -24.54% down over the past 12 months. Mackinac Financial Corporation (MFNC) is -33.96% down on the 1-year trading charts. Short interest in the company’s stock has fallen -17.5% from the last report on May 14, 2020 to stand at a total of 0.25 million short shares sold with a short interest ratio of 4.28.