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Mercantile Bank Corp. (NASDAQ:MBWM) has been downgraded to Market Perform in a statement by Keefe, Bruyette & Woods earlier today.

Keefe, Bruyette & Woods has downgraded Mercantile Bank Corp. (NASDAQ:MBWM) to Market Perform in a report released on 11/29/2016.

Previously on 11/21/2016, Hovde Group reported about Mercantile Bank Corp. (NASDAQ:MBWM) raised the target price from $0.00 to $32.00. At the time, this indicated a possible downside of -0.03%.

Yesterday Mercantile Bank Corp. (NASDAQ:MBWM) traded 1.17% higher at $33.25. The company’s 50-day moving average is $29.34 and its 200-day moving average is $26.39. The last stock close price is up 27.42% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time. 13,009 shares of MBWM traded hands, down from an average trading volume of 31,872

Recent Performance Chart

Mercantile Bank Corp. (NASDAQ:MBWM)

Mercantile Bank Corp. has 52 week low of $20.84 and a 52 week high of $35.00 with a PE ratio of 18.19 and has a market capitalization of $0.

Brief Synopsis On Mercantile Bank Corp. (NASDAQ:MBWM)

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The bank, through its approximately 50 office locations, provides commercial banking services primarily to small- to medium-sized businesses and retail banking services in and around the West and Central portions of Michigan. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The Bank owns approximately 50 automated teller machines (ATM). Its 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. Mercantile Insurance Center, Inc. (insurance company) is a subsidiary of the Bank, which offers insurance products.

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