A Director at Mercantile Bank Corp. (NASDAQ: MBWM) is Selling Shares

By Carrie Williams

Today, a Director at Mercantile Bank Corp. (NASDAQ: MBWM), Thomas R. Sullivan, sold shares of MBWM for $165.2K.

Following Thomas R. Sullivan’s last MBWM Sell transaction on September 27, 2016, the stock climbed by 7.4%. In addition to Thomas R. Sullivan, 4 other MBWM executives reported Sell trades in the last month.

Based on Mercantile Bank Corp.’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $34.99 million and quarterly net profit of $7.85 million. In comparison, last year the company earned revenue of $32.78 million and had a net profit of $7.34 million. The company has a one year high of $34.79 and a one year low of $20.84. MBWM’s market cap is $549.7M and the company has a P/E ratio of 18.13.

The insider sentiment on Mercantile Bank Corp. has been neutral according to 20 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Company insider trades’ information is brought to you by the DailyInsider, a proprietary algorithm that analyzes insider trading activity to detect the most attractive trading opportunities. To subscribe to the DailyInsider visit this page.

Mercantile Bank Corp. is a bank holding company, which operates through its subsidiary Mercantile Bank of Michigan which engages in the provision of financial, commercial, and retail banking services. It also offers Internet banking, personal banking, and business banking services. The company was founded on July 15, 1997 and is headquartered in Grand Rapids, MI.