Mercantile Bank Corp (NASDAQ:MBWM) Just Hit With Upgrade From D.A. Davidson. Will Other Analysts Also Upgrade the Stock?

September 13, 2017 - By Adrian Erickson

  Mercantile Bank Corp (NASDAQ:MBWM) Just Hit With Upgrade From D.A. Davidson. Will Other Analysts Also Upgrade the Stock?

Investors sentiment decreased to 1.24 in 2016 Q4. Its down 0.20, from 1.44 in 2016Q3. It fall, 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.

Northern Tru Corp has 0% invested in Mercantile Bank Corp. (NASDAQ:MBWM). Tiaa Cref Inv Mngmt Lc reported 58,249 shares. Strs Ohio holds 0% or 21,400 shares. Schwab Charles Invest Management accumulated 25,300 shares or 0% of the stock. Rhumbline Advisers has 18,454 shares. Pnc Fincl Svcs Group accumulated 129,081 shares. Credit Suisse Ag invested in 15,222 shares. 623,007 are owned by Vanguard Gru Incorporated. Banc Funds Co Ltd invested in 2.31% or 1.44M shares. Martingale Asset Management Limited Partnership invested 0.02% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Bridgeway Capital Incorporated owns 46,100 shares or 0.02% of their US portfolio. Metropolitan Life Insurance Com New York stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Blackrock Fund Advisors invested in 528,130 shares or 0% of the stock. California Public Employees Retirement System owns 43,800 shares or 0% of their US portfolio. Castine Cap Ltd Liability Corporation holds 1.34% or 84,865 shares in its portfolio.

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 just given Mercantile Bank Corp (NASDAQ:MBWM) shares an updated “Buy” rating in analysts report sent to investors on Monday morning. The broker from today has a respectable $35.0 target price per share on the stock. The target announced by D.A. Davidson is 13.01 % from MBWM’s current share price.

Investors sentiment decreased to 1.24 in 2016 Q4. Its down 0.20, from 1.44 in 2016Q3. It fall, 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.

Northern Tru Corp has 0% invested in Mercantile Bank Corp. (NASDAQ:MBWM). Tiaa Cref Inv Mngmt Lc reported 58,249 shares. Strs Ohio holds 0% or 21,400 shares. Schwab Charles Invest Management accumulated 25,300 shares or 0% of the stock. Rhumbline Advisers has 18,454 shares. Pnc Fincl Svcs Group accumulated 129,081 shares. Credit Suisse Ag invested in 15,222 shares. 623,007 are owned by Vanguard Gru Incorporated. Banc Funds Co Ltd invested in 2.31% or 1.44M shares. Martingale Asset Management Limited Partnership invested 0.02% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Bridgeway Capital Incorporated owns 46,100 shares or 0.02% of their US portfolio. Metropolitan Life Insurance Com New York stated it has 0% of its portfolio in Mercantile Bank Corp. (NASDAQ:MBWM). Blackrock Fund Advisors invested in 528,130 shares or 0% of the stock. California Public Employees Retirement System owns 43,800 shares or 0% of their US portfolio. Castine Cap Ltd Liability Corporation holds 1.34% or 84,865 shares in its portfolio.

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. Hovde Group initiated it with “Market Perform” rating and $32 target in Monday, November 21 report. The rating was upgraded by DA Davidson to “Buy” on Monday, September 11. The rating was downgraded by Sandler O’Neill to “Hold” on Wednesday, July 22. The stock has “Mkt Perform” rating by Keefe Bruyette & Woods on Tuesday, November 29. As per Wednesday, January 18, the company rating was downgraded by Raymond James. Keefe Bruyette & Woods maintained the shares of MBWM in report on Friday, May 26 with “Hold” rating. The stock of Mercantile Bank Corp. (NASDAQ:MBWM) has “Mkt Perform” rating given on Tuesday, August 25 by Raymond James.

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: “Douglas Spencer Named SVP & Regional Manager of Pacific Mercantile Bank’s …” on September 12, 2017. Globenewswire.com‘s article titled: “Pacific Mercantile Bank Provides $6 Million in Financing to Thrive Networks” and published on September 06, 2017 is yet another important article.

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