Recent extremely meaningful positive changes in investment behavior have benefitted Mercantile Bank Corp (NASDAQ: MBWM): the stock rose on very heavy volume, and the stock’s recent price rise disrupted its longer term downtrend.
Mercantile Bank Corp (NASDAQ: MBWM) has recently enjoyed meaningful positive changes in fundamentals: significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MBWM is expected to continue to be a Value Builder.
Mercantile Bank has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Mercantile Bank has a good Power Rating of 81 and a good Appreciation Score of 82, leading to the Highest Value Trend Rating.
Recent Price Action
Mercantile Bank Corp (NASDAQ: MBWM) stock enjoyed a large increase of 4.5% on 4/19/24. The stock closed at $36.07. Moreover, this advance was accompanied by exceptionally high trading volume at 257% of normal. The stock has been strong relative to the market over the last nine months and has risen 1.5% during the last week.
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