News to Track: Mercantile Bank Corporation (NASDAQ:MBWM)

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Mercantile Bank Corporation (NASDAQ:MBWM) stock identified change of 17.46% away from 52-week low price and recently located move of -6.26% off 52-week high price. It has market worth of $563.53MM and dividend yield of 3.09%. MBWM stock has been recorded -2.28% away from 50 day moving average and 4.39% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.79% off 20-day moving average.

 On Jan. 21, 2020, Mercantile Bank Corporation (NASDAQ:MBWM) revealed net income of $13.3 million, or $0.81 per diluted share, for the fourth quarter of 2019, compared with net income of $11.6 million, or $0.70 per diluted share, for the respective prior-year period.  For the full year 2019, Mercantile reported net income of $49.5 million, or $3.01 per diluted share, compared with net income of $42.0 million, or $2.53 per diluted share, for the full year 2018.

Net gains and losses on sales and write-downs of former branch facilities decreased reported net income during the fourth quarter of 2019 by approximately $0.3 million, or $0.02 per diluted share.  Interest income related to purchased loan accounting entries increased net income during the fourth quarter of 2019 by $0.2 million, or $0.01 per diluted share, and net income during the fourth quarter of 2018 by $0.5 million, or $0.03 per diluted share.  Excluding the impacts of these transactions, diluted earnings per share increased $0.15, or 22.4 percent, during the fourth quarter of 2019 compared to the respective 2018 period.

Bank owned life insurance claims and the net impact of gains and losses on sales and write-downs of former branch facilities increased reported net income during 2019 by approximately $2.7 million, or $0.16 per diluted share.  Interest income related to purchased loan accounting entries increased net income during 2019 by $1.1 million, or $0.07 per diluted share, and net income during 2018 by $3.2 million, or $0.19 per diluted share.  Excluding the impacts of these transactions, diluted earnings per share increased $0.44, or 18.8 percent, during 2019 compared to 2018.

 The Financial sector company, Mercantile Bank Corporation noticed change of -1.30% to $34.98 along volume of 47298 shares in recent session compared to an average volume of 35.41K. The stock observed return of -2.26% in 5 days trading activity. The stock was at -5.23% over one month performance. MBWM’s shares are at 0.32% for the quarter and driving a 8.80% return over the course of the past year and is now at -4.09% since this point in 2018.  The average volatility for the week at 2.76% and for month was at 2.09%. There are 16.11M shares outstanding and 15.72M shares are floated in market. Right now the stock beta is 0.81. 

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