Siebel, Thomas M, CEO of C3.ai, sells $7.6m in stock
Director Williams Shoran R. of Mercantile Bank Corp (NASDAQ:MBWM), a $748 million market cap financial institution with a solid track record of strong returns over the past five years, recently purchased 200 shares of common stock. According to InvestingPro analysis, the company appears slightly undervalued at current levels. The transactions, which occurred on July 29, 2025, involved a weighted average price of $47.285.
The price for the shares ranged from $47.27 to $47.30, resulting in a total transaction value of $9,457. Following the transaction, Williams directly owns 5,266 shares of Mercantile Bank Corp.
In other recent news, Mercantile Bank Corporation reported a robust financial performance for the second quarter of 2025, exceeding analysts’ expectations. The bank achieved an earnings per share of $1.39, surpassing the projected $1.24, while its revenue reached $60.9 million, slightly above the anticipated $60.02 million. Following these results, Raymond (NSE:RYMD) James upgraded Mercantile Bank’s stock rating from Market Perform to Outperform, citing stronger-than-expected fees and stable credit performance. Piper Sandler also raised its price target for the bank from $47.50 to $56.00, maintaining a Neutral rating. This adjustment was attributed to Mercantile’s solid second-quarter results and improved guidance for the latter half of 2025. Additionally, the strategic benefits of the company’s recent acquisition of EFIN were noted as a contributing factor to the price target increase. These developments reflect a positive outlook for Mercantile Bank among analysts.
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