D.A. Davidson Gives Mercantile Bank Corp (NASDAQ:MBWM) a Higher Rating. Will Other Analysts Follow Suit?

September 13, 2017 - By Darrin Black

  D.A. Davidson Gives Mercantile Bank Corp (NASDAQ:MBWM) a Higher Rating. Will Other Analysts Follow Suit?

Investors sentiment decreased to 1.24 in 2016 Q4. Its down 0.20, from 1.44 in 2016Q3. It dropped, as 3 investors sold Mercantile Bank Corp. shares while 30 reduced holdings. 12 funds opened positions while 29 raised stakes. 7.96 million shares or 2.72% more from 7.75 million shares in 2016Q3 were reported.

Manufacturers Life Ins Communication The reported 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). 10,800 are owned by Bessemer Gp. Millennium Mgmt Ltd Co stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Northern reported 184,665 shares. Blackrock Invest Management Lc stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). State Teachers Retirement System reported 1,400 shares. Plante Moran Fincl Limited Liability Company holds 15,143 shares or 0.36% of its portfolio. Nationwide Fund Advsrs reported 0% in Mercantile Bank Corp. (NASDAQ:MBWM). Pnc Fincl Group Incorporated invested in 129,081 shares or 0.01% of the stock. Deutsche Financial Bank Ag stated it has 14,511 shares or 0% of all its holdings. Royal Comml Bank Of Canada invested in 164,341 shares. Vanguard Grp reported 623,007 shares or 0% of all its holdings. 30,198 were reported by Federated Invsts Pa. Huntington Bancorp invested in 37,668 shares. Spark Mngmt Ltd reported 0.06% in Mercantile Bank Corp. (NASDAQ:MBWM).

Since June 12, 2017, it had 0 buys, and 1 sale for $240,059 activity.

Mercantile Bank Corp (NASDAQ:MBWM) Stock Upgrade

D.A. Davidson has increased shares of Mercantile Bank Corp (NASDAQ:MBWM) to a respectable Buy rating in a report sent to clients and investors today, and has set a 12 month target price of $35.0, which is 13.01 % from MBWM’s share price currently.

Investors sentiment decreased to 1.24 in 2016 Q4. Its down 0.20, from 1.44 in 2016Q3. It dropped, as 3 investors sold Mercantile Bank Corp. shares while 30 reduced holdings. 12 funds opened positions while 29 raised stakes. 7.96 million shares or 2.72% more from 7.75 million shares in 2016Q3 were reported.

Manufacturers Life Ins Communication The reported 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). 10,800 are owned by Bessemer Gp. Millennium Mgmt Ltd Co stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Northern reported 184,665 shares. Blackrock Invest Management Lc stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). State Teachers Retirement System reported 1,400 shares. Plante Moran Fincl Limited Liability Company holds 15,143 shares or 0.36% of its portfolio. Nationwide Fund Advsrs reported 0% in Mercantile Bank Corp. (NASDAQ:MBWM). Pnc Fincl Group Incorporated invested in 129,081 shares or 0.01% of the stock. Deutsche Financial Bank Ag stated it has 14,511 shares or 0% of all its holdings. Royal Comml Bank Of Canada invested in 164,341 shares. Vanguard Grp reported 623,007 shares or 0% of all its holdings. 30,198 were reported by Federated Invsts Pa. Huntington Bancorp invested in 37,668 shares. Spark Mngmt Ltd reported 0.06% in Mercantile Bank Corp. (NASDAQ:MBWM).

Since June 12, 2017, it had 0 buys, and 1 sale for $240,059 activity.

Mercantile Bank Corp. (NASDAQ:MBWM) Ratings Coverage

Among 5 analysts covering Mercantile Bank (NASDAQ:MBWM), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Mercantile Bank has $3500 highest and $25 lowest target. $34’s average target is 9.78% above currents $30.97 stock price. Mercantile Bank had 10 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform” on Tuesday, November 29. As per Monday, November 21, the company rating was initiated by Hovde Group. Keefe Bruyette & Woods maintained it with “Hold” rating and $3500 target in Friday, May 26 report. As per Monday, September 11, the company rating was upgraded by DA Davidson. Raymond James upgraded the shares of MBWM in report on Tuesday, August 25 to “Mkt Perform” rating. The rating was downgraded by Sandler O’Neill on Wednesday, July 22 to “Hold”. Raymond James downgraded the stock to “Mkt Perform” rating in Wednesday, January 18 report.

The stock decreased 0.29% or $0.09 during the last trading session, reaching $30.97. About 35,456 shares traded or 48.16% up from the average. Mercantile Bank Corp. (NASDAQ:MBWM) has risen 34.10% since September 13, 2016 and is uptrending. It has outperformed by 17.40% the S&P500.

Mercantile Bank Corporation is a bank holding company. The company has market cap of $510.47 million. The Firm owns the Mercantile Bank of Michigan . It has a 16.44 P/E ratio. The Bank is a state banking company.

More news for Mercantile Bank Corp. (NASDAQ:MBWM) were recently published by: Globenewswire.com, which released: “Pacific Mercantile Bank Provides $6 Million in Financing to Thrive Networks” on September 06, 2017. Globenewswire.com‘s article titled: “Douglas Spencer Named SVP & Regional Manager of Pacific Mercantile Bank’s …” and published on September 12, 2017 is yet another important article.

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