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Mercantile Bank (MBWM) Soars 5.7%: Is Further Upside Left in the Stock?
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Mercantile Bank (MBWM - Free Report) shares rallied 5.7% in the last trading session to close at $38.44. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.6% loss over the past four weeks.
After getting hammered because of industry-wide concern related to commercial real estate (CRE) loans, shares of Mercantile Bank reversed the trend. With the company having manageable exposure to CRE loans, investors seem to be regained confidence in the stock/ This, along with the central bank’s signal of interest rate cuts this year, turned investor sentiments bullish on the MBWM stock.
This holding company for Mercantile Bank of Michigan is expected to post quarterly earnings of $1.14 per share in its upcoming report, which represents a year-over-year change of -13%. Revenues are expected to be $55.2 million, down 0.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Mercantile Bank, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MBWM going forward to see if this recent jump can turn into more strength down the road.
Mercantile Bank belongs to the Zacks Banks - Midwest industry. Another stock from the same industry, First Financial Corp. (THFF - Free Report) , closed the last trading session 0.1% higher at $36.94. Over the past month, THFF has returned -3.6%.
First Financial Corp.'s consensus EPS estimate for the upcoming report has changed -3.9% over the past month to $0.99. Compared to the company's year-ago EPS, this represents a change of -25.6%. First Financial Corp. currently boasts a Zacks Rank of #4 (Sell).
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Mercantile Bank (MBWM) Soars 5.7%: Is Further Upside Left in the Stock?
Mercantile Bank (MBWM - Free Report) shares rallied 5.7% in the last trading session to close at $38.44. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.6% loss over the past four weeks.
After getting hammered because of industry-wide concern related to commercial real estate (CRE) loans, shares of Mercantile Bank reversed the trend. With the company having manageable exposure to CRE loans, investors seem to be regained confidence in the stock/ This, along with the central bank’s signal of interest rate cuts this year, turned investor sentiments bullish on the MBWM stock.
This holding company for Mercantile Bank of Michigan is expected to post quarterly earnings of $1.14 per share in its upcoming report, which represents a year-over-year change of -13%. Revenues are expected to be $55.2 million, down 0.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Mercantile Bank, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MBWM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Mercantile Bank belongs to the Zacks Banks - Midwest industry. Another stock from the same industry, First Financial Corp. (THFF - Free Report) , closed the last trading session 0.1% higher at $36.94. Over the past month, THFF has returned -3.6%.
First Financial Corp.'s consensus EPS estimate for the upcoming report has changed -3.9% over the past month to $0.99. Compared to the company's year-ago EPS, this represents a change of -25.6%. First Financial Corp. currently boasts a Zacks Rank of #4 (Sell).