Mercantile Bank Corporation reports results for the quarter ended September 30 - Earnings Summary

• Mercantile Bank Corporation reported quarterly adjusted earnings of $1.39​​ per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of $1.46. The mean expectation of five analysts for the quarter was for earnings of $1.35 per share. Wall Street expected results to range from $1.32 to $1.37 per share.

• Revenue rose 17.3% to $73.20 million from a year ago; analysts expected $71.03 million.

• Mercantile Bank Corporation's reported EPS for the quarter was $1.39​.

• The company reported quarterly net income of $24.07 million.

• Mercantile Bank Corporation shares had risen by 0.2% this quarter and gained 21.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.2% 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 2 "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 Corporation is $62.50, about 6.5% above its last closing price of $58.42

This summary was machine generated from LSEG data October 20 at 01:31 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)