Investors are more bullish on Mercantile Bank Corp recently looking at the motion in short interest. The firm had a fall in short interest of -18.62% between September 29, 2017 and October 13, 2017. Short interest decreased 20,220 over that period. With short interest at 88,346 and short average daily volume at 25,762, days to cover is 3.0 and the percentage of shorted shares is 0.01% as of October 13.

The following firms have recently changed their position in MBWM. As of quarter end Envestnet Asset Management Inc had bought a total of 628 shares growing its stake by 8.7%. The value of the company’s investment in Mercantile Bank Corp increased from $225,000 to $272,000 a change of 20.9% since the last quarter. As of the end of the quarter Two Sigma Advisers, Lp had acquired 400 shares growing its holdings by 4.8%. The value of the investment in MBWM went from $261,000 to $303,000 a change of $42,000 for the reporting period.

As of the end of the quarter Cornerstone Capital Management Holdings LLC. had disposed of a total of 1,600 shares trimming its position 6.6%. The value in dollars increased from $758,000 to $785,000 increasing 3.6% quarter over quarter. Geode Capital Management, LLC trimmed its ownership by shedding 2,588 shares a decrease of 1.9% from 06/30/2017 to 09/30/2017. Geode Capital Management, LLC currently owns 135,201 shares worth $4,718,000. The total value of its holdings increased 8.8%.

On October 3 Keefe, Bruyette & Woods maintained a stock rating of “Hold” with a current price target of $34.00.

The company is now down by 0.06% since yesterday’s close of 35.07. The P/E ratio is currently 18.37 and the market value is 578.04M. In the latest earnings report the EPS was $1.91 with 16.49M shares currently outstanding.

Mercantile Bank Corporation, launched on July 15, 1997, is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The Bank also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. Courier service is provided to certain commercial customers, and safe deposit facilities are available at its office locations..