At, Mercantile Bank (NASDAQ:MBWM) was downgraded to hold downgraded Mercantile Bank (NASDAQ:MBWMGet Rating) from a “buy” rating to a “hold” rating in a report published on Tuesday.

Separately, on January 18th, Raymond James downgraded the shares of Mercantile Bank from a “outperform” rating to a “market perform” rating in a research note.

Performance of Mercantile Bank’s Stock

On Tuesday, the MBWM stock opened at $33.58. The quick ratio, current ratio, and debt-to-equity ratio for the corporation are all 1.00. Mercantile Bank’s 12-month high is $39.12 and its 12-month low is $29.26. The company’s fifty-day and 200-day moving averages are $33.76 and $33.61, respectively. The firm has a $532.91 million market value, an 8.72 P/E ratio, and a beta value of 0.98

The most recent earnings announcement from Mercantile Bank (NASDAQ:MBWM – Get Rating) was made on January 17th. The financial services firm outperformed analysts’ consensus projections by $0.18, reporting $1.37 earnings per share (EPS) for the quarter. In contrast to experts’ predictions of $53.70 million, the company’s sales for the quarter came in at $58.46 million. With a net margin of 28.55% and a return on equity of 14.29%, Mercantile Bank performed well. Analysts that do stock market research predict that Mercantile Bank will report 4.46 EPS for the current year.

Insider Trading

In other news, on Friday, January 20th, Director David B. Ramaker purchased 1,500 shares of the company’s stock. The average price paid for the shares, with a total market value of $49,995.00, was $33.33. The director now owns 7,394 company shares worth $246,442.02 after the transaction. This link will take you to a document that was submitted to the Securities & Exchange Commission that contains information on the transaction. 3.64 % of the stock is held by corporate insiders.

Mercantile Bank: Institutional Investors Offer Their Opinions

Recently, a number of hedge funds and institutional investors increased or decreased their shares in MBWM. During the first quarter, State Street Corp increased its stake in Mercantile Bank by 34.0%. State Street Corp now owns 108,389 more shares of the financial services provider’s stock valued at $15,135,000 than it did three months ago. In the second quarter, rhino investment partners Inc. acquired a new stake in Mercantile Bank shares worth $3,325,000. During the third quarter, John W. Rosenthal Capital Management Inc. added a new $1,486,000 investment in Mercantile Bank. In the fourth quarter, Assenagon Asset Management S.A. invested $1,227,000 in Mercantile Bank. And finally, in the third quarter, Citadel Advisors LLC increased its holding in Mercantile Bank by 102.9%. After purchasing an additional 35,688 shares during the course of the last quarter, Citadel Advisors LLC now owns 70,383 shares of the financial services provider’s stock, valued at $2,091,000. Institutional investors hold 55.50% of the stock.

Profile of the Company Mercantile Bank (Get Rating)

For Mercantile Bank of Michigan, Mercantile Bank Corp. serves as a bank holding company. It provides services for treasury management, business loans, mobile wallet, health savings accounts, credit and debit cards, mobile banking, and Internet banking. The company’s headquarters are in Grand Rapids, Michigan, and it was established on July 15, 1997.

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Is it wise to put $1,000 into Mercantile Bank at this time?

You should know these information before you think about Mercantile Bank.

MarketBeat regularly monitors the stocks that Wall Street’s top-rated and most successful research analysts advise their customers to buy. Mercantile Bank was not included in MarketBeat’s list of the five stocks that top analysts are privately advising their customers to purchase right now before the wider market catches on.

Analysts now rank Mercantile Bank as a “Moderate Buy,” but the best analysts think these five companies are better buys.

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