Mercantile Bank Corp reports results for the quarter ended December 31 - Earnings Summary

• Mercantile Bank Corp MBWM.OQ reported quarterly adjusted earnings of $1.22​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $1.25. The mean expectation of five analysts for the quarter was for earnings of $1.15 per share. Wall Street expected results to range from $1.10 to $1.18 per share.

• Revenue rose 2.8% to $58.53 million from a year ago; analysts expected $57.38 million.

• Mercantile Bank Corp's reported EPS for the quarter was $1.22​.

• The company reported quarterly net income of $19.63 million.

• Mercantile Bank Corp shares had fallen by 0.6% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the banks peer group is also "hold"

Wall Street's median 12-month price target for Mercantile Bank Corp is $52.00

This summary was machine generated from LSEG data January 21 at 02:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)