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Robert B. Kaminski, a director at Mercantile Bank Corp (NASDAQ:MBWM), a $750 million market cap financial institution currently trading near InvestingPro’s Fair Value estimate, has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Kaminski sold 250 shares of common stock on March 3, 2025, at a weighted average price of $48.1104 per share. This transaction, carried out under a Rule 10b5-1 trading plan adopted on April 2, 2024, amounted to a total value of approximately $12,027. The stock, which offers a 3.2% dividend yield and has maintained dividend payments for 14 consecutive years, currently trades at an attractive P/E ratio of 9.4x.
Following this sale, Kaminski retains direct ownership of 78,486 shares. Additionally, he holds 11,810 shares indirectly through a 401(k) plan. The company noted a previous rounding discrepancy in a Form 4 filed on February 21, 2025, which has been corrected in this latest filing. With five analysts recently revising earnings estimates upward, investors can access detailed analysis and 7 additional key insights through InvestingPro’s comprehensive research report.
In other recent news, Mercantile Bank Corporation reported its third-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.22 against the forecasted $1.14. Revenue also exceeded projections, reaching $58.5 million compared to the anticipated $57.38 million. Additionally, Keefe, Bruyette & Woods upgraded their price target for Mercantile Bank from $56.00 to $57.00, maintaining an Outperform rating. This move reflects confidence in the bank’s financial health, bolstered by strong credit trends and a robust quarterly performance. Mercantile Bank also announced a new structure for its executive stock awards, with a significant portion contingent on performance goals compared to a Comparative Index of similar-sized banks. The bank’s strategic initiatives have resulted in a notable decrease in the loan-to-deposit ratio, contributing to a strong deposit growth strategy. These developments underscore Mercantile Bank’s focus on aligning executive compensation with shareholder interests and maintaining a competitive edge in the financial sector.
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