Time to Reconsider Mercantile Bank Corporation (NASDAQ:MBWM) After Less Short Sellers?

February 15, 2018 - By Richard Conner

 Time to Reconsider Mercantile Bank Corporation (NASDAQ:MBWM) After Less Short Sellers?

Investors sentiment decreased to 1.06 in 2017 Q3. Its down 0.19, from 1.25 in 2017Q2. It is negative, as 4 investors sold Mercantile Bank Corporation shares while 30 reduced holdings. 10 funds opened positions while 26 raised stakes. 8.49 million shares or 1.21% less from 8.59 million shares in 2017Q2 were reported.
Rhumbline Advisers owns 19,430 shares or 0% of their US portfolio. Bank Of Mellon holds 0% of its portfolio in Mercantile Bank Corporation (NASDAQ:MBWM) for 109,573 shares. Envestnet Asset Management invested in 0% or 7,813 shares. California State Teachers Retirement Sys reported 25,757 shares. Metropolitan Life Insurance New York owns 12,116 shares for 0% of their portfolio. Vanguard Group Incorporated has invested 0% in Mercantile Bank Corporation (NASDAQ:MBWM). Moreover, Dubuque Bank & Trust Tru Commerce has 0.03% invested in Mercantile Bank Corporation (NASDAQ:MBWM). Wellington Mgmt Grp Inc Llp, Massachusetts-based fund reported 221,371 shares. Wedge L L P Nc, North Carolina-based fund reported 30,400 shares. Morgan Stanley invested 0% in Mercantile Bank Corporation (NASDAQ:MBWM). Huntington Fincl Bank, a Ohio-based fund reported 35,368 shares. Essex Invest Mngmt Co Lc owns 10,563 shares. Panagora Asset Mngmt holds 142,271 shares. Deutsche National Bank Ag has 23,635 shares for 0% of their portfolio. Cornerstone Cap Mngmt Holdg Limited Liability Corporation accumulated 50,353 shares.

Since October 20, 2017, it had 0 insider buys, and 2 insider sales for $614,071 activity.

The stock of Mercantile Bank Corporation (NASDAQ:MBWM) registered a decrease of 7.9% in short interest. MBWM’s total short interest was 79,300 shares in February as published by FINRA. Its down 7.9% from 86,100 shares, reported previously. With 30,000 shares average volume, it will take short sellers 3 days to cover their MBWM’s short positions. The short interest to Mercantile Bank Corporation’s float is 0.55%.

The stock increased 0.23% or $0.08 during the last trading session, reaching $34.44. About 7,073 shares traded. Mercantile Bank Corporation (NASDAQ:MBWM) has risen 34.10% since February 15, 2017 and is uptrending. It has outperformed by 17.40% the S&P500.

Mercantile Bank Corporation operates as the bank holding firm for Mercantile Bank of Michigan that provides commercial banking services for small- to medium-sized businesses and individuals in the United States. The company has market cap of $571.43 million. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit, as well as repurchase agreements. It has a 18.15 P/E ratio. The firm also offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner occupied real estate, non-owner occupied real estate, and multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as loans for new and used automobiles, boats, and credit cards, as well as overdraft protection for its checking account customers.

Mercantile Bank Corporation (NASDAQ:MBWM) Ratings Coverage

Among 5 analysts covering Mercantile Bank (NASDAQ:MBWM), 0 have Buy rating, 0 Sell and 5 Hold. Therefore 0 are positive. Mercantile Bank had 16 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Friday, May 26 by Keefe Bruyette & Woods. The firm has “Market Perform” rating given on Monday, November 21 by Hovde Group. On Wednesday, January 17 the stock rating was maintained by Hovde Group with “Hold”. On Tuesday, August 25 the stock rating was upgraded by Raymond James to “Mkt Perform”. The firm has “Hold” rating by Sandler O’Neill given on Wednesday, July 22. The firm earned “Hold” rating on Tuesday, October 3 by Keefe Bruyette & Woods. Sandler O’Neill maintained Mercantile Bank Corporation (NASDAQ:MBWM) on Wednesday, January 3 with “Hold” rating. Keefe Bruyette & Woods downgraded the stock to “Mkt Perform” rating in Tuesday, November 29 report. The rating was downgraded by Raymond James on Wednesday, January 18 to “Mkt Perform”. The company was maintained on Thursday, December 21 by Keefe Bruyette & Woods.

Another recent and important Mercantile Bank Corporation (NASDAQ:MBWM) news was published by Globenewswire.com which published an article titled: “Pacific Mercantile Bancorp to Participate in FIG Partners CEO Forum” on January 29, 2018.

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