Mercantile Bank dividend yield – Mercantile Bank Corp. Declares 0.33 Cash Dividend

🌥️Dividends Yield

On June 8 2023, Mercantile Bank ($NASDAQ:MBWM) Corp. declared a 0.33 cash dividend. This is a great opportunity for those of you interested in investing in dividend stocks. Over the past 3 years, MERCANTILE BANK has issued annual dividends per share of 1.28, 1.26, and 1.18 USD, yielding 3.73%, 3.64%, and 3.79% respectively. The average dividend yield for this period stands at 3.72%, and the ex-dividend date for their 2023 dividends is June 1.

MERCANTILE BANK is a great option for investors looking to add some dividend income into their portfolio. It has a reliable track record when it comes to issuing dividends, and their 0.33 cash dividend is sure to entice many investors.

Stock Price

This announcement came after the company’s stock opened at $31.2 and closed at $30.3, representing a decline of 3.2% from its previous closing price of $31.3. The board of directors of Mercantile Bank Corp. has chosen to issue this dividend as a way to reward current shareholders and provide additional value for investors. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Mercantile Bank. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Mercantile Bank. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Mercantile Bank. More…

Key Ratios Snapshot

Some of the financial key ratios for Mercantile Bank are shown below. More…

Analysis – Mercantile Bank Intrinsic Stock Value

At GoodWhale, we recently carried out an analysis of the wellbeing of MERCANTILE BANK. We believe that the intrinsic value of MERCANTILE BANK share is around $35.2, which was calculated using our proprietary Valuation Line. Currently, the MERCANTILE BANK stock is traded at $30.3, which reflects a slightly undervalued price of 14.0%. This offers an interesting investment opportunity for investors, as it could be potentially profitable when the stock’s price rises and approaches its intrinsic value. More…

Peers

The company operates through its subsidiary, Mercantile Bank of Michigan, which offers a full range of banking services to small- to medium-sized businesses and individuals in the Midwestern United States. Mercantile Bank Corp’s main competitors are First US Bancshares Inc (NASDAQ: FUSB), Tennessee Valley Financial Holdings Inc (NASDAQ: TVLY), and HMN Financial Inc (NASDAQ: HMNF).

– First US Bancshares Inc ($NASDAQ:FUSB)

First US Bancshares Inc is a bank holding company. The Company’s principal activity is to serve as the holding company for its bank subsidiary, which provides banking services to individual and corporate customers. It offers a range of services, including personal and business banking, loans, credit cards, and investment services.

– Tennessee Valley Financial Holdings Inc ($OTCPK:TVLF)

HMN Financial Inc. is a bank holding company that operates through its wholly owned subsidiary, Home Savings Bank. The Bank provides a range of banking services to individuals, families, and businesses in Minnesota, Iowa, and Wisconsin. Services include checking and savings accounts, loans, credit cards, and online and mobile banking. The company was founded in 1887 and is headquartered in Winona, Minnesota.

Summary

MERCANTILE BANK is an attractive investment opportunity for dividend investors. Over the past three years, the bank has consistently paid out dividends per share in the range of 1.18 to 1.28 USD, providing dividend yields of 3.64% to 3.79%. The bank appears to be a reliable source of dividend income for investors looking for reliable and stable returns. Additionally, the bank has a strong balance sheet and a sound financial position, making it an attractive investment prospect for those seeking long-term capital gains.