Royal Bank of Canada Purchases 19,273 Shares of Mercantile Bank Corp. (MBWM)

Royal Bank of Canada raised its position in Mercantile Bank Corp. (NASDAQ:MBWM) by 9.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 220,880 shares of the financial services provider’s stock after purchasing an additional 19,273 shares during the period. Royal Bank of Canada’s holdings in Mercantile Bank were worth $7,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MBWM. Swiss National Bank increased its position in shares of Mercantile Bank by 7.5% in the first quarter. Swiss National Bank now owns 28,700 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Mercantile Bank by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 73,348 shares of the financial services provider’s stock valued at $2,439,000 after acquiring an additional 2,223 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Mercantile Bank by 3.9% in the first quarter. Wells Fargo & Company MN now owns 61,237 shares of the financial services provider’s stock valued at $2,036,000 after acquiring an additional 2,326 shares during the last quarter. US Bancorp DE increased its position in shares of Mercantile Bank by 119.1% in the first quarter. US Bancorp DE now owns 4,333 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 2,355 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Mercantile Bank by 14.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,783 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 2,613 shares during the last quarter. 53.30% of the stock is currently owned by hedge funds and other institutional investors.

Get Mercantile Bank alerts:

In related news, Director Michael H. Price sold 3,000 shares of Mercantile Bank stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $36.32, for a total transaction of $108,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.

Mercantile Bank stock opened at $37.36 on Thursday. Mercantile Bank Corp. has a 52 week low of $28.92 and a 52 week high of $38.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $624.09 million, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

Mercantile Bank (NASDAQ:MBWM) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. Mercantile Bank had a return on equity of 9.50% and a net margin of 23.13%. The business had revenue of $34.58 million during the quarter, compared to analysts’ expectations of $33.03 million. sell-side analysts predict that Mercantile Bank Corp. will post 2.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Friday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, June 7th. Mercantile Bank’s payout ratio is currently 46.56%.

MBWM has been the topic of a number of recent research reports. BidaskClub raised Mercantile Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Hovde Group reaffirmed a “hold” rating and issued a $37.00 target price on shares of Mercantile Bank in a research report on Wednesday, April 18th. Finally, Sandler O’Neill set a $37.00 target price on Mercantile Bank and gave the company a “hold” rating in a research report on Tuesday, March 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $36.80.

Mercantile Bank Company Profile

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.

Want to see what other hedge funds are holding MBWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercantile Bank Corp. (NASDAQ:MBWM).

6 Most Important Things in Business Today

BMW posted solid financial results. According to MarketWatch:

Bayerische Motoren Werke AG said Thursday that its first-half sales rose 1.8% thanks to strong demand in Europe, the Americas and Asia.

The German premium auto maker said it sold 1.24 million cars in the first six months of the year, compared with 1.22 million a year earlier. Sales for June rose 2.7% to 238,920 units, the company said.

Broadcom Ltd. (NASDAQ: AVGO) will buy software operation CA Technologies. According to Reuters:

Broadcom Inc announced a $18.9 billion deal to buy U.S. business software company CA Inc on Wednesday, venturing far beyond its realm of semiconductors and testing investors�� confidence in its Chief Executive Hock Tan��s dealmaking credentials.

The CA deal, outlined in a joint statement from the companies, comes just four months after U.S. President Donald Trump blocked Broadcom��s $117 billion hostile bid for semiconductor peer Qualcomm Inc, arguing it posed a threat to U.S. national security and gave an edge to Chinese companies looking to build next-generation wireless networks.

Since then, Broadcom has redomiciled from Singapore to the United States, placing it formally outside the purview of the Committee on Foreign Investment in the United States (CFIUS), the government panel that reviews deals for potential national security risks.

Comcast Corp. (NASDAQ: CMCSA) increased its offer for U.K. media company Sky. According to The Wall Street Journal:

The battle for control of European pay-TV giant Sky PLC heated up Wednesday, with 21st Century Fox raising its bid and cable company Comcast Corp. quickly countering later in the day, the latest jockeying in a cross-Atlantic media deal showdown.

Comcast raised its offer for Sky to 拢14.75 per share, valuing the company at $34 billion. That is a 5% premium to an offer Fox announced earlier Wednesday and 18% above Comcast��s earlier bid. Comcast said its latest offer was recommended by Sky��s independent directors.

The founder of Papa John’s International Inc. (NASDAQ: PZZA) resigned after making racially charged comments. According to The Wall Street Journal:

Papa John��s International Inc. said late Wednesday that its independent directors have accepted the resignation of John Schnatter as board chairman, after a report that he used a racial slur in a conference call.

In a news release, the company said Olivia Kirtley will serve as lead independent director. Papa John��s will appoint a new chairman in the coming weeks.

Ford Motor Co. (NYSE: F) continues to take a beating in China:

Ford Motor Co. sales in China plunged 26% in the first half of 2018 compared with the same period last year, and there is little relief in sight as U.S.-China trade tensions worsen.

China��s auto market overall grew 5.6% in the first six months, with sales reaching 14.1 million vehicles, according to figures released Wednesday by the government-backed China Association of Automobile Manufacturers.

But Ford sold just 400,443 of those��the company��s poorest first-half showing in China since 2012. By comparison, General Motors Co. booked a record first-half performance in China, with sales increasing 4% to 1.84 million.

The International Energy Agency said oil production will be “stretched to the limit.” The organization’s experts wrote:

Some of these supply issues are likely to be resolved, but the large number of disruptions reminds us of the pressure on global oil supply. This will become an even bigger issue as rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world��s spare capacity cushion, which might be stretched to the limit.

17,498 Shares in Thermo Fisher Scientific Inc. (TMO) Purchased by First American Trust FSB

First American Trust FSB acquired a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,498 shares of the medical research company’s stock, valued at approximately $3,624,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. boosted its holdings in Thermo Fisher Scientific by 2,608.7% during the first quarter. Johnson Financial Group Inc. now owns 623 shares of the medical research company’s stock worth $129,000 after purchasing an additional 600 shares during the last quarter. Virtue Capital Management LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $127,000. Premia Global Advisors LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $131,000. Private Capital Group LLC boosted its holdings in Thermo Fisher Scientific by 57.3% during the first quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock worth $179,000 after purchasing an additional 315 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 45.5% during the first quarter. Jacobi Capital Management LLC now owns 908 shares of the medical research company’s stock worth $184,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 85.76% of the company’s stock.

Get Thermo Fisher Scientific alerts:

Thermo Fisher Scientific traded down $0.12, hitting $207.23, during mid-day trading on Friday, MarketBeat Ratings reports. 27,876 shares of the stock traded hands, compared to its average volume of 1,223,739. The stock has a market cap of $82.83 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.51 and a beta of 1.10. Thermo Fisher Scientific Inc. has a 12-month low of $170.07 and a 12-month high of $226.44. The company has a current ratio of 1.36, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 25th. The medical research company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Thermo Fisher Scientific had a net margin of 10.24% and a return on equity of 16.09%. Thermo Fisher Scientific’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 earnings per share. equities analysts forecast that Thermo Fisher Scientific Inc. will post 10.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 15th will be paid a $0.17 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $214.80, for a total value of $9,666,000.00. Following the completion of the transaction, the chief executive officer now owns 315,122 shares of the company’s stock, valued at approximately $67,688,205.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $217.71, for a total transaction of $10,885,500.00. Following the completion of the transaction, the chief executive officer now directly owns 272,122 shares of the company’s stock, valued at approximately $59,243,680.62. The disclosure for this sale can be found here. In the last three months, insiders sold 97,706 shares of company stock valued at $21,125,673. Corporate insiders own 0.49% of the company’s stock.

Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, March 26th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $216.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. Finally, ValuEngine lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $224.38.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.