Mercantile Bank Corp. (Nasdaq:MBWM)
December 5th, 2018
Amidst falling markets Mercantile Bank Corp. fell $2.36 Tuesday, a 7.37% decline, closing at $29.68. As well as the drop in value, Mercantile Bank Corp. hit a new 52 week low of $29.53, breaking the previous low of $29.60 from earlier this July.
MBWM was outperformed by the rest of the Financials sector which went down only 4.40%.
Results from 5 analysts points to the possibility that Mercantile Bank Corp. might go up quite a bit (15%), while Finbox has calculated (with high uncertainty) a fair value price of $30.61.
The market sectors were mixed Wednesday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.15%), while Financials saw the biggest drop (4.40%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector falling 13%.
Utilities saw the biggest turnaround from its 5-day performance of 2.31%, as it went up 0.15%. Industrials and Consumer Discretionary both saw turn arounds from their five day positive performance, Industrials with a drop of 4.35%.
- Utilities went up with a 0.15% change.
- Real Estate went down with a -1.26% change.
- Consumer Staples went down with a -1.63% change.
- Healthcare went down with a -2.30% change.
- Energy went down with a -2.93% change.
- Materials went down with a -3.08% change.
- Communication Services went down with a -3.14% change.
- Information Technology went down with a -3.86% change.
- Consumer Discretionary went down with a -3.91% change.
- Industrials went down with a -4.35% change.
- Financials went down with a -4.40% change.
Mercantile Bank Corp. Info
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. In addition, it provides courier services and safe deposit facilities; repurchase agreements; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products, as well as operates and 49 automated teller machines. As of January 16, 2018, the company operated 49 banking offices. Mercantile Bank Corporation was founded in 1997 and is headquartered in Grand Rapids, Michigan.
All amounts in USD unless otherwise indicated
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