In a filing, Mercantile Bank Corp. revealed its Director Sanchez Nelson F acquired Company’s shares for reported $4990.0 on Jun 11 ’24. In the deal valued at $35.90 per share,139 shares were bought. As a result of this transaction, Sanchez Nelson F now holds 1,032 shares worth roughly $41868.24.
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Then, Sanchez Nelson F bought 138 shares, generating $4,982 in total proceeds. Upon buying the shares at $36.10, the Director now owns 893 shares.
Before that, Sanchez Nelson F bought 135 shares. Mercantile Bank Corp. shares valued at $4,987 were divested by the Director at a price of $36.94 per share. As a result of the transaction, Sanchez Nelson F now holds 755 shares, worth roughly $30630.35.
Janney downgraded its Mercantile Bank Corp. [MBWM] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Hovde Group’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Market perform”. Janney also remained covering MBWM and has increased its forecast on January 16, 2024 with a “Buy” recommendation from previously “Neutral” rating. Piper Sandler revised its rating on March 07, 2023. It rated MBWM as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of MBWM
On Friday, Mercantile Bank Corp. [NASDAQ:MBWM] saw its stock jump 2.71% to $40.57. Over the last five days, the stock has gained 10.04%. Mercantile Bank Corp. shares have risen nearly 0.47% since the year began. Nevertheless, the stocks have risen 46.46% over the past one year. While a 52-week high of $42.82 was reached on 01/30/24, a 52-week low of $26.95 was recorded on 04/17/24. SMA at 50 days reached $37.79, while 200 days put it at $36.50. A total of 0.58 million shares were traded, compared to the trading of 58600.0 shares in the previous session.
Levels Of Support And Resistance For MBWM Stock
The 24-hour chart illustrates a support level at 39.67, which if violated will result in even more drops to 38.77. On the upside, there is a resistance level at 41.29. A further resistance level may holdings at 42.01. The Relative Strength Index (RSI) on the 14-day chart is 67.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.97, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.82%. Stochastics%K at 93.56% indicates the stock is a selling.
