Ratings Don’t Lie: Keefe Bruyette: Time To Decrease Faith In Mercantile Bank (NASDAQ:MBWM)

November 29, 2016 - By Winifred Garcia

Ratings Don't Lie: Keefe Bruyette: Time To Decrease Faith In Mercantile Bank (NASDAQ:MBWM)

Mercantile Bank (NASDAQ:MBWM) Downgrade

Mercantile Bank (NASDAQ:MBWM)‘s rating was cut by stock analysts at Keefe Bruyette from a “Outperform” rating to a “Mkt Perform” rating in a report shared with investors and clients on Tuesday, 29 November.

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 -12.78% below today’s ($33.25) stock price. Mercantile Bank has been the topic of 5 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Mercantile Bank Corp. (NASDAQ:MBWM) has “Market Perform” rating given on Monday, November 21 by Hovde Group. The firm has “Hold” rating by Sandler O’Neill given on Wednesday, July 22. The rating was upgraded by Raymond James on Tuesday, August 25 to “Mkt Perform”.

About 4,985 shares traded hands. 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 18.07 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 2016 Q2. Its down 0.23, from 1.67 in 2016Q1. The ratio dropped, 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.

Blackrock Fund Advsrs, a California-based fund reported 413,629 shares. North Star Asset Mgmt reported 382,433 shares or 1% of all its holdings. California State Teachers Retirement Sys accumulated 33,333 shares or 0% of the stock. Deutsche Commercial Bank Ag holds 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM) for 29,783 shares. Pnc Group Inc Inc reported 107,903 shares or 0% of all its holdings. Metropolitan Life Insur has 0% invested in the company for 12,116 shares. Blackrock Institutional Na reported 196,672 shares or 0% of all its holdings. New York State Common Retirement Fund accumulated 0% or 15,400 shares. Moreover, Teacher Retirement System Of Texas has 0% invested in Mercantile Bank Corp. (NASDAQ:MBWM) for 2,305 shares. Bancorp Of America De has 44,675 shares for 0% of their US portfolio. Geode Mngmt Llc has invested 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Morgan Stanley has invested 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Dimensional Fund Advsr Lp has 773,107 shares for 0.01% of their US portfolio. Cornerstone Capital Mgmt Hldgs holds 0.01% or 29,568 shares in its portfolio. Legal And General Gru Public Ltd has invested 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM).

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 5 selling transactions for $973,957 net activity. PRICE MICHAEL H sold 11,520 shares worth $287,850. SULLIVAN THOMAS R sold $41,738 worth of stock or 1,575 shares.

Mercantile Bank Corporation is a bank holding company. The company has a market cap of $532.44 million. The Firm owns the Mercantile Bank of Michigan . It has a 17.89 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Tags: , ,

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>