Besides Wall Street's top -and-bottom-line estimates for Mercantile Bank (MBWM), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
Mortgage loan originations and commercial loan growth led to a positive market reaction. Loan to Deposit ratio is improving, but still high at 107%, with management aiming to bring it down to around 95%. MBWM may currently be overvalued, leading management to set aside a possible buyback and focus on maintaining capital ratios.
Mercantile Bank Corporation (NASDAQ:MBWM ) Q2 2024 Earnings Conference Call July 16, 2024 10:00 AM ET Company Participants Nichole Kladder - First VP & Chief Marketing Officer Raymond Reitsma - President, CEO & Director Charles Christmas - CFO, EVP, Treasurer of Mercantile, EVP & CFO Conference Call Participants Brendan Nosal - Hovde Group Daniel Tomayo - Raymond James Financial Nathan Race - Piper Sandler Companies Damon DelMonte - KBW Operator Good morning and welcome to the Mercantile Bank Corporation 2024 Second Quarter Earnings Conference Call. [Operator Instructions].
Mercantile Bank (MBWM) came out with quarterly earnings of $1.17 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.27 per share a year ago.
Besides Wall Street's top -and-bottom-line estimates for Mercantile Bank (MBWM), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended June 2024.
Mercantile Bank (MBWM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.