Mercantile Bank Corporation (NASDAQ:MBWM) will begin trading ex-dividend on September 3, 2020. The quarterly dividend payment of $ 0.28 per share is scheduled to be paid on September 16, 2020. The dividend yield based on the latest trading day closing price was 4.96 %. To secure the dividend payout, investors must buy the stock prior to the ex-dividend date..
Dividends History
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Mercantile Bank Corporation recently reported second quarter financial results on July 21, 2020, before market open, commercial banking services provider unfold income for the second quarter of $ 0.54 per share, from the revenue of $ 41.55 million. The quarterly earnings shrunk 23.94 percent while revenues surged 10.95 percent compared with the same quarter last year.
Wall street analysts are predicting, MBWM to report 2Q20 income of $ 0.32 per share from revenue of $ 36.61 million. The bottom line results beat street analysts by $ 0.22 or 68.75 percent, at the same time, top line results outshined analysts by $ 4.94 million or 13.49 percent.
Stock Performance
Shares of Mercantile Bank Corporation traded up $ 0.72 or 3.30 percent on Friday, reaching $ 22.56 with volume of 57.70 thousand shares. Mercantile Bank Corporation has traded high as $ 22.56 and has cracked $ 22.11 on the downward trend
According to the previous trading day, closing price of $ 22.56, representing a 17.17 % increase from the 52 week low of $ 18.64 and a 41.48 % decrease over the 52 week high of $ 37.32.
The company has a market capital of $ 366.17 million and is part of the Financial Services sector and Banks – Regional – US industry.
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for 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. The company 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 services.
