For its third fiscal quarter (ending September 30), Mercantile Bank Corp (NASDAQ: MBWM) has reported a -6% decline in E.P.S. from $1.30 a year ago to $1.22 in the current quarter. However, this result exceeded the consensus estimate of $1.17 by $0.05. For the latest four quarters through September 30, E.P.S. were $4.97 compared to $5.26 a year ago — a decline of -6%.
Recent Price Action
Mercantile Bank Corp (NASDAQ: MBWM) stock enjoyed a large increase of 2.7% on 10/15/24. The stock closed at $44.59. Moreover, this advance was accompanied by unusually high trading volume at 155% of normal. The stock has been strong relative to the market over the last nine months and has risen 6.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, MBWM is expected to continue to be a Value Builder.
Mercantile Bank has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Mercantile Bank has a slightly positive Power Rating of 70 and a good Appreciation Score of 78, producing the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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