Mercantile Bank Corp (NASDAQ: MBWM) has reported earnings for its second fiscal quarter (ending June 30) of $1.17 versus $1.27 for the same period a year ago — a decline of -8%. Relative to the consensus estimate of $1.16, this was a premium of $0.01. For the latest four quarters through June 30, E.P.S. were $5.05 versus $4.96 for the same period a year ago — an increase of 2%.
Recent Price Action
Mercantile Bank Corp (NASDAQ: MBWM) stock closed at $49.44 on 7/16/24 after a major increase of 12.1%. Moreover, trading volume in this advance was exceptionally high at 268% of normal. The stock has risen 27.7% during the last week and has performed in line with the market over the last nine months.
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 B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Mercantile Bank has a good Appreciation Score of 78 but a neutral Power Rating of 47, producing the Positive Value Trend Rating.
Rating Review
In light of this new information and very positive price change we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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