Mercantile Bank (MBWM) Set to Announce Earnings on Tuesday

Mercantile Bank (NASDAQ:MBWM) will release its earnings data before the market opens on Tuesday, July 16th. Analysts expect Mercantile Bank to post earnings of $1.17 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.20. Mercantile Bank had a return on equity of 16.39% and a net margin of 25.58%. The firm had revenue of $58.23 million for the quarter, compared to the consensus estimate of $55.20 million. On average, analysts expect Mercantile Bank to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Mercantile Bank Stock Up 0.1 %

NASDAQ:MBWM opened at $42.50 on Monday. The stock’s fifty day moving average price is $38.48 and its two-hundred day moving average price is $38.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $685.14 million, a price-to-earnings ratio of 8.24 and a beta of 0.98. Mercantile Bank has a 52-week low of $28.67 and a 52-week high of $43.37.

Analyst Ratings Changes

A number of research firms recently commented on MBWM. Piper Sandler upgraded shares of Mercantile Bank to a “hold” rating in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $47.00 price objective on shares of Mercantile Bank in a report on Wednesday, April 17th. Finally, Janney Montgomery Scott cut Mercantile Bank from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.00.

About Mercantile Bank

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to 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.