19,826 Shares in Mercantile Bank Corporation $MBWM Acquired by Discipline Wealth Solutions LLC

Discipline Wealth Solutions LLC bought a new stake in shares of Mercantile Bank Corporation (NASDAQ:MBWM) in the first quarter, HoldingsChannel reports. The institutional investor bought 19,826 shares of the financial services provider’s stock, valued at approximately $1,001,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Mercantile Bank by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 1,066,368 shares of the financial services provider’s stock valued at $51,292,000 after acquiring an additional 27,403 shares during the period. Renaissance Technologies LLC raised its holdings in Mercantile Bank by 1.2% in the 4th quarter. Renaissance Technologies LLC now owns 496,213 shares of the financial services provider’s stock worth $23,868,000 after purchasing an additional 5,800 shares during the period. American Century Companies Inc. lifted its position in Mercantile Bank by 9.2% during the third quarter. American Century Companies Inc. now owns 494,367 shares of the financial services provider’s stock valued at $22,247,000 after purchasing an additional 41,540 shares in the last quarter. North Star Asset Management Inc. lifted its position in Mercantile Bank by 5.4% during the fourth quarter. North Star Asset Management Inc. now owns 374,544 shares of the financial services provider’s stock valued at $18,016,000 after purchasing an additional 19,204 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in Mercantile Bank during the fourth quarter valued at about $14,181,000. 58.63% of the stock is currently owned by institutional investors.

Mercantile Bank Trading Up 0.4%

Mercantile Bank stock opened at $53.96 on Tuesday. The stock has a market cap of $931.89 million, a P/E ratio of 9.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.93. Mercantile Bank Corporation has a 1 year low of $42.75 and a 1 year high of $55.77. The firm’s 50 day moving average price is $52.41 and its 200-day moving average price is $51.35.

Mercantile Bank (NASDAQ:MBWM) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.13. The company had revenue of $67.59 million during the quarter, compared to analysts’ expectations of $67.41 million. Mercantile Bank had a net margin of 24.19% and a return on equity of 13.73%. On average, equities analysts predict that Mercantile Bank Corporation will post 5.63 earnings per share for the current fiscal year.

Mercantile Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, June 5th. Mercantile Bank’s dividend payout ratio is 28.01%.

Analyst Ratings Changes

Several research analysts have recently commented on MBWM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercantile Bank in a research note on Friday, June 12th. Wall Street Zen upgraded Mercantile Bank to a “hold” rating in a research note on Saturday, March 28th. Finally, Stephens began coverage on shares of Mercantile Bank in a report on Wednesday, March 25th. They issued an “equal weight” rating and a $54.00 target price for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.20.

Mercantile Bank Profile

Mercantile Bank Corporation (NASDAQ: MBWM) is the bank holding company for Mercantile Bank of Michigan, a full-service commercial bank headquartered in Grand Rapids, Michigan. Through its state-chartered subsidiary, the company provides a broad range of financial products and services to small and mid-sized businesses, professionals and consumers across West and Central Michigan.

The bank’s core offerings include deposit products such as checking, savings and money market accounts, alongside commercial and consumer loan portfolios.