Mercantile Bank (NASDAQ:MBWM) Declares cash dividend of $0.19 per common share

Mercantile Bank Corporation (NASDAQ:MBWM) stock traded volume of 26.7 thousand shares during its last trading session as compared to its average volume of 29.88 thousand shares over the three month. MBWM ended its day with the loosing stream with the decline of -1.18% and closed at the price of $35.25 before opening at $35.68. MBWM total market capitalization is $580.99M. 52 week range of the stock remained $26.54 – $38.68, while its day lowest price was $34.81 and its hit its day highest price at $35.70.

Mercantile Bank Corporation has changed its distance from 200-Day Moving Average of $32.44 to +8.66% and traded from 50-Day Moving Average of $32.93 to +7.06%. The company has price to book ratio of 1.64 and price to sale ratio of 4.84.

Mercantile Bank Corporation (NASDAQ: MBWM) (“Mercantile”) announced that on October 12, 2017, its Board of Directors declared a regular quarterly cash dividend of $0.19 per common share, payable on December 20, 2017 to holders of record as of December 8, 2017.

“The ongoing cash dividend program reflects the Board of Directors’ and executive management team’s belief that our demonstrated financial strength will persist in future periods,” said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile.  “We are very pleased that our solid capital position and earnings performance not only positions us to meet growth objectives, but also enabled us to once again declare a dividend that will provide shareholders with a competitive yield.”

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial 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, as well as repurchase agreements. 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 for its checking account customers. In addition, it provides courier services and safe deposit facilities; 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. The company operates 48 banking offices in Western and Central Michigan; and 49 automated teller machines. Mercantile Bank Corporation was founded in 1997 and is headquartered in Grand Rapids, Michigan.

David Brinkley

David Brinkley gives coverage to fashion Section of the website. He enjoys and appreciates engaging with like-minded individuals that inspire him to think beyond what is generally accepted. He has a fashion designing degree from the University of California, Berkeley. Connect to David davidbrinkley@usstockjournal.com