Mercantile Bank (MBWM - Free Report) shares ended the last trading session 5% higher at $38.31. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.4% loss over the past four weeks.
Mercantile Bank witnessed a rise in share price for the fourth consecutive day. The performance of banks has been decent in the first quarter of 2022 so far. Investors are also bullish on the sector, given the expectations of the interest rate hikes this year. This has possibly led to the optimistic stance by the investors, which drove Mercantile Bank higher.
This holding company for Mercantile Bank of Michigan is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of -17.2%. Revenues are expected to be $42.37 million, down 1.5% 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 #2 (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, Huntington Bancshares (HBAN - Free Report) , closed the last trading session 2.2% higher at $15.04. Over the past month, HBAN has returned -7.5%.
Huntington Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.32. Compared to the company's year-ago EPS, this represents a change of -33.3%. Huntington Bancshares currently boasts a Zacks Rank of #3 (Hold).
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Mercantile Bank (MBWM - Free Report) shares ended the last trading session 5% higher at $38.31. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.4% loss over the past four weeks.
Mercantile Bank witnessed a rise in share price for the fourth consecutive day. The performance of banks has been decent in the first quarter of 2022 so far. Investors are also bullish on the sector, given the expectations of the interest rate hikes this year. This has possibly led to the optimistic stance by the investors, which drove Mercantile Bank higher.
This holding company for Mercantile Bank of Michigan is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of -17.2%. Revenues are expected to be $42.37 million, down 1.5% 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 #2 (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, Huntington Bancshares (HBAN - Free Report) , closed the last trading session 2.2% higher at $15.04. Over the past month, HBAN has returned -7.5%.
Huntington Bancshares' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.32. Compared to the company's year-ago EPS, this represents a change of -33.3%. Huntington Bancshares currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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