Raymond James Sticks to Its Hold Rating for Mercantile Bank (MBWM)


In a report released today, David Long from Raymond James maintained a Hold rating on Mercantile Bank (MBWM). The company’s shares closed last Tuesday at $28.43.

According to TipRanks.com, Long has 0 stars on 0-5 stars ranking scale with an average return of -2.7% and a 33.1% success rate. Long covers the Financial sector, focusing on stocks such as Enterprise Financial Services, Old National Bancorp Capital, and First Financial Bancorp.

Mercantile Bank has an analyst consensus of Hold.

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Based on Mercantile Bank’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $42.82 million and net profit of $10.69 million. In comparison, last year the company earned revenue of $38.28 million and had a net profit of $12.6 million.

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Mercantile Bank Corp. operates as a bank holding company for Mercantile Bank of Michigan. It offers checking and savings accounts, credit and debit cards, mobile and Internet banking, business loans, mobile wallet, health savings account, and treasury management services. The company was founded on July 15, 1997 and is headquartered in Grand Rapids, MI.

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