1 day Ago By ABMN Staff
Federated Hermes Inc. lifted its holdings in shares of Mercantile Bank Co. ( NASDAQ:MBWM – Free Report ) by 28.
9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,851 shares of the financial services provider’s stock after buying an additional 1,761 shares during the period. Federated Hermes Inc.
’s holdings in Mercantile Bank were worth $349,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Mercantile Bank by 95.
7% during the 3rd quarter. FMR LLC now owns 13,356 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 6,531 shares during the period. Jane Street Group LLC increased its position in Mercantile Bank by 119.
3% in the third quarter. Jane Street Group LLC now owns 29,622 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 16,115 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Mercantile Bank in the third quarter valued at $202,000.
Barclays PLC boosted its holdings in shares of Mercantile Bank by 99.2% during the third quarter. Barclays PLC now owns 32,981 shares of the financial services provider’s stock valued at $1,441,000 after acquiring an additional 16,423 shares during the period.
Finally, Geode Capital Management LLC grew its position in shares of Mercantile Bank by 3.9% during the third quarter. Geode Capital Management LLC now owns 376,979 shares of the financial services provider’s stock worth $16,484,000 after acquiring an additional 14,202 shares during the last quarter.
Institutional investors and hedge funds own 58.63% of the company’s stock. Insider Activity In other news, Director Robert B.
Kaminski sold 3,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $50.16, for a total value of $150,480.
00. Following the completion of the sale, the director now owns 13,810 shares in the company, valued at $692,709.60.
This represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .
Insiders have sold 7,750 shares of company stock worth $382,695 over the last 90 days. 3.08% of the stock is owned by company insiders.
Analysts Set New Price Targets Get Our Latest Stock Analysis on Mercantile Bank Mercantile Bank Trading Up 0.9 % Mercantile Bank stock opened at $40.68 on Friday.
Mercantile Bank Co. has a 1 year low of $33.64 and a 1 year high of $52.
98. The firm’s 50 day moving average price is $44.52 and its two-hundred day moving average price is $45.
77. The firm has a market cap of $660.44 million, a price-to-earnings ratio of 8.
22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.
95, a quick ratio of 1.01 and a current ratio of 1.02.
Mercantile Bank ( NASDAQ:MBWM – Get Free Report ) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.
15 by $0.07. Mercantile Bank had a return on equity of 14.
29% and a net margin of 21.99%. On average, research analysts predict that Mercantile Bank Co.
will post 4.83 EPS for the current fiscal year. About Mercantile Bank ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding MBWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercantile Bank Co.
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