Rating Buzzer: Mercantile Bank (NASDAQ:MBWM) Loses a Vote of Confidence From KBW. What to Expect?

November 29, 2016 - By Darrin Black

Rating Buzzer: Mercantile Bank (NASDAQ:MBWM) Loses a Vote of Confidence From KBW. What to Expect?

Mercantile Bank (NASDAQ:MBWM) Downgrade

Mercantile Bank (NASDAQ:MBWM)‘s Outperform rating is no longer valid. research analysts at KBW downgraded Mercantile Bank (NASDAQ:MBWM)‘s rating to a Mkt Perform.

Mercantile Bank Corp. (NASDAQ:MBWM) Ratings Coverage

Out of 4 analysts covering Mercantile Bank (NASDAQ:MBWM), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $32 is the highest target while $25 is the lowest. The $29 average target is -12.01% below today’s ($32.96) stock price. Mercantile Bank has been the topic of 5 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating given on Tuesday, August 25 by Raymond James. Hovde Group initiated Mercantile Bank Corp. (NASDAQ:MBWM) on Monday, November 21 with “Market Perform” rating. The stock of Mercantile Bank Corp. (NASDAQ:MBWM) earned “Hold” rating by Sandler O’Neill on Wednesday, July 22.

The stock decreased 0.84% or $0.28 on November 29, hitting $32.96. About 39,486 shares traded hands or 13.10% up from the average. Mercantile Bank Corp. (NASDAQ:MBWM) has risen 34.57% since April 26, 2016 and is uptrending. It has outperformed by 29.32% the S&P500.

Analysts await Mercantile Bank Corp. (NASDAQ:MBWM) to report earnings on January, 17. They expect $0.46 earnings per share, up 15.00% or $0.06 from last year’s $0.4 per share. MBWM’s profit will be $7.37 million for 17.91 P/E if the $0.46 EPS becomes a reality. After $0.48 actual earnings per share reported by Mercantile Bank Corp. for the previous quarter, Wall Street now forecasts -4.17% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.44 in Q2 2016. Its down 0.23, from 1.67 in 2016Q1. The ratio is negative, as 4 funds sold all Mercantile Bank Corp. shares owned while 20 reduced positions. 14 funds bought stakes while 26 increased positions. They now own 7.56 million shares or 1.33% more from 7.46 million shares in 2016Q1.

Nationwide Fund holds 12,255 shares or 0% of its portfolio. Interest Grp last reported 9,151 shares in the company. Bnp Paribas Arbitrage, a New York-based fund reported 607 shares. Geode Cap Management Limited Liability Company has 107,858 shares for 0% of their US portfolio. Axa holds 0% or 4,200 shares in its portfolio. Legal And General Gp Public Limited Company accumulated 2,698 shares or 0% of the stock. Morgan Stanley, a New York-based fund reported 77,914 shares. First Allied Advisory reported 13,556 shares or 0.02% of all its holdings. Tower Lc (Trc) reported 245 shares or 0% of all its holdings. Rhumbline Advisers last reported 0% of its portfolio in the stock. The New York-based Teachers Inc has invested 0% in Mercantile Bank Corp. (NASDAQ:MBWM). Credit Suisse Ag accumulated 0% or 11,354 shares. The Connecticut-based Thomson Horstmann And Bryant has invested 0.47% in Mercantile Bank Corp. (NASDAQ:MBWM). Pinnacle Holdg Ltd Liability Corp last reported 0% of its portfolio in the stock. Blackrock Inc owns 6,246 shares or 0% of their US portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 5 insider sales for $973,957 net activity. PRICE MICHAEL H also sold $287,850 worth of Mercantile Bank Corp. (NASDAQ:MBWM) shares. The insider SULLIVAN THOMAS R sold $41,738.

Mercantile Bank Corporation is a bank holding company. The company has a market cap of $527.79 million. The Firm owns the Mercantile Bank of Michigan . It has a 17.74 P/E ratio. The Bank is a state banking company.

According to Zacks Investment Research, “Mercantile Bank Corporation serves businesses and consumers across Grand Rapids and Kent County with a full range of mortgage, lending, deposit and checking products and services in a friendly, hometown banking environment.”

MBWM Company Profile

Mercantile Bank Corporation, incorporated on July 15, 1997, is a bank holding company. The Firm owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The bank, through its approximately 50 office locations, provides commercial banking services primarily to small- to medium-sized businesses and retail banking services in and around the West and Central portions of Michigan. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The Bank owns approximately 50 automated teller machines (ATM). The Company’s bank also enables clients to conduct certain loan and deposit transactions by personal computer and through mobile applications. Courier service is provided to certain commercial customers, and safe deposit facilities are available at its office locations.

More news for Mercantile Bank Corp. (NASDAQ:MBWM) were recently published by: Prnewswire.com, which released: “Mercantile Bank Corporation Announces Ongoing Succession Appointments” on September 29, 2016. Prnewswire.com‘s article titled: “Mercantile Bank Corporation Announces Retirement of President and CEO Michael …” and published on July 19, 2016 is yet another important article.

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