Mercantile Bank Corporation (NASDAQ:MBWM) will begin trading ex-dividend on December 3, 2020. The quarterly dividend payment of $ 0.28 per share is scheduled to be paid on December 16, 2020. The dividend yield based on the latest trading day closing price was 4.53 percent. To secure the dividend payout, investors must buy the stock prior to the ex-dividend date of December 3, 2020.
Dividends History
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Mercantile Bank Corporation recently reported third quarter financial results on October 20, 2020, before market open, commercial banking services provider communicated income for the third quarter of $ 0.66 per share, from the revenue of $ 42.82 million. The quarterly earnings lowered 14.29 percent while revenues surged 32.65 percent compared with the same quarter last year.
Street analysts expected Mercantile Bank Corporation recently reported third quarter financial results on October 20, 2020, before market open, commercial banking services provider to report income of $ 0.42 per share on revenue of $ 39.41 million for the third quarter. The bottom line results beat street analysts by $ 0.24 or 57.14 percent, at the same time, top line results outshined analysts by $ 3.41 million or 8.65 percent.
Stock Performance
Shares of Mercantile Bank Corporation traded low $ -0.09 or -0.36 percent on Tuesday, reaching $ 24.74 with volume of 74.50 thousand shares. Mercantile Bank Corporation has traded high as $ 25.57 and has cracked $ 24.17 on the downward trend
According to the previous trading day, closing price of $ 24.74, representing a 45.29 % increase from the 52 week low of $ 17.09 and a 33.47 % decrease over the 52 week high of $ 37.32.
The company has a market capital of $ 401.62 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.
