Zacks lowered shares of Mercantile Bank Corp. (NASDAQ: MBWM) from an outperform rating to a neutral rating in a report released on Tuesday, AnalystRatingsNetwork reports. Zacks currently has $19.70 price objective on the stock.
Zacks has also taken action a number of other financials stocks recently. The firm upgraded shares of Synovus Financial Corp. from an underperform rating to a neutral rating. The firm now has a $3.00 price target on that stock. Also, Zacks reiterated its neutral rating on shares of Prosperity Bancshares Inc. They have a $56.00 price target on that stock. Finally, Zacks reiterated its outperform rating on shares of Regions Financial Corp.. They have a $10.50 price target on that stock.
Mercantile Bank Corp. (NASDAQ: MBWM) traded up 0.50% on Tuesday, hitting $18.20. Mercantile Bank Corp. has a 1-year low of $13.41 and a 1-year high of $18.69. The stock’s 50-day moving average is currently $17.19. The company has a market cap of $158.4 million and a price-to-earnings ratio of 11.91.
Mercantile Bank Corporation is a bank holding company. The Company wholly owns Mercantile Bank of Michigan (NASDAQ: MBWM).
To view Zacks’ full report, visit www.zacks.com