Mercantile Bank Corporation Increases Q3 Regular Cash Dividend To $0.36/Share, Up By 3% QoQ And 6% YoY

7/16/24 5:02:25 AM ET

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Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on July 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on September 18, 2024, to holders of record as of September 6, 2024. The $0.36 cash dividend represents increases of nearly 3 percent and 6 percent from the cash dividends paid during the second quarter of 2024 and third quarter of 2023, respectively.

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Recent Analyst Ratings for
$MBWM

Date	Price Target	Rating	Analyst
5/8/2024		Buy → Neutral	Janney
3/4/2024		Outperform → Market Perform	Hovde Group
1/16/2024		Neutral → Buy	Janney
3/7/2023	$38.00 → $40.00	Neutral → Overweight	Piper Sandler
1/18/2023		Outperform → Mkt Perform	Raymond James
10/6/2022	$44.00 → $35.00	Strong Buy → Outperform	Raymond James
7/28/2022	$41.00	Market Perform → Outperform	Hovde Group
3/2/2022	$44.00	Outperform → Strong Buy	Raymond James

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Financials

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Mercantile Bank Corporation Announces Strong Third Quarter Results
Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the third quarter of 2024, compared with net income of $20.9 million, or $1.30 per diluted share, for the third quarter of 2023. Net income during the first nine months of 2024 totaled $60.0 million, or $3.72 per diluted share, compared with net income of $62.2 million, or $3.89 per diluted share, during the first nine months of 2023.
10/15/24 5:05:00 AM ET
$MBWM
Major Banks
Finance
Mercantile Bank Corporation Declares Regular Cash Dividend
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.5 percent GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on October 10, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on December 18, 2024, to holders of record as of December 6, 2024. The $0.36 cash dividend represents an increase of nearly 6 percent from the cash dividend paid during the fourth quarter of 2023.
10/15/24 5:00:00 AM ET
$MBWM
Major Banks
Finance
Mercantile Bank Corporation Announces Third Quarter 2024 Results Conference Call and Webcast
GRAND RAPIDS, Mich., Sept. 30, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, October 15, 2024, to discuss third quarter 2024 financial results. The Company's third quarter 2024 earnings release will be released before markets open on Tuesday, October 15, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on October 15, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Merc
9/30/24 10:00:00 AM ET
$MBWM
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$MBWM
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Mercantile Bank Corporation Announces Strong Third Quarter Results
Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the third quarter of 2024, compared with net income of $20.9 million, or $1.30 per diluted share, for the third quarter of 2023. Net income during the first nine months of 2024 totaled $60.0 million, or $3.72 per diluted share, compared with net income of $62.2 million, or $3.89 per diluted share, during the first nine months of 2023.
10/15/24 5:05:00 AM ET
$MBWM
Major Banks
Finance
Mercantile Bank Corporation Declares Regular Cash Dividend
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.5 percent GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on October 10, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on December 18, 2024, to holders of record as of December 6, 2024. The $0.36 cash dividend represents an increase of nearly 6 percent from the cash dividend paid during the fourth quarter of 2023.
10/15/24 5:00:00 AM ET
$MBWM
Major Banks
Finance
Mercantile Bank Corporation Announces Third Quarter 2024 Results Conference Call and Webcast
GRAND RAPIDS, Mich., Sept. 30, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, October 15, 2024, to discuss third quarter 2024 financial results. The Company's third quarter 2024 earnings release will be released before markets open on Tuesday, October 15, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on October 15, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Merc
9/30/24 10:00:00 AM ET
$MBWM
Major Banks
Finance

Mercantile Bank Corporation Increases Q3 Regular Cash Dividend To $0.36/Share, Up By 3% QoQ And 6% YoY

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$MBWM Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Sanchez Nelson F bought $9,972 worth of shares (277 units at $36.00) (SEC Form 4)

Director Sanchez Nelson F bought $9,995 worth of shares (270 units at $37.02) (SEC Form 4)

Sanchez Nelson F bought $3,651 worth of shares (100 units at $36.51), increasing direct ownership by 9% to 1,265 units (SEC Form 4)

$MBWM Financials

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Mercantile Bank Corporation Announces Strong Third Quarter Results

Mercantile Bank Corporation Declares Regular Cash Dividend

Mercantile Bank Corporation Announces Third Quarter 2024 Results Conference Call and Webcast

$MBWM Analyst Ratings

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Mercantile Bank downgraded by Janney

Mercantile Bank downgraded by Hovde Group

Mercantile Bank upgraded by Janney

$MBWM Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by Mercantile Bank Corporation

Amendment: SEC Form SC 13G/A filed by Mercantile Bank Corporation

SEC Form SC 13G/A filed by Mercantile Bank Corporation (Amendment)

$MBWM Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Kaminski Robert B sold $198,040 worth of shares (4,000 units at $49.51) (SEC Form 4)

Director Kaminski Robert B gifted 7,000 shares, decreasing direct ownership by 7% to 87,480 units (SEC Form 4)

Director Kaminski Robert B sold $10,628 worth of shares (250 units at $42.51), decreasing direct ownership by 0.26% to 94,480 units (SEC Form 4)

$MBWM Press Releases

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Mercantile Bank Corporation Announces Strong Third Quarter Results

Mercantile Bank Corporation Declares Regular Cash Dividend

Mercantile Bank Corporation Announces Third Quarter 2024 Results Conference Call and Webcast

$MBWM SEC Filings

SEC Form 10-Q filed by Mercantile Bank Corporation

Mercantile Bank Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form 10-Q filed by Mercantile Bank Corporation

$MBWM Market Insights

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Keefe, Bruyette & Woods Reiterates Outperform on Mercantile Bank, Raises Price Target to $51

Piper Sandler Maintains Neutral on Mercantile Bank, Raises Price Target to $53

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Mercantile Bank Corporation Announces Retirement of President and Chief Executive Officer Robert B. Kaminski, Jr.

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