Sandler O'Neill Initiates Mercantile Bank At Buy

Analysts at Sandler O'Neill initiated coverage on shares of Mercantile Bank

with a Buy rating. The target price for Mercantile Bank is set to $22.50. Mercantile Bank shares have declined 5.61% over the past 52 weeks, while the S&P 500 index has gained 18.08% in the same period. Mercantile Bank's shares closed at $19.51 yesterday.