Mercantile Bank Corp. MBWM saw a big move last session, as the company's shares fell nearly 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the most recent downtrend for MBWM, as the stock is up nearly 9% since May 7.
This slump shouldn't be too much of a surprise to investors, as the Banking company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
MBWM currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
Some better-ranked stocks in the Banking industry include MidWest One Financial Group, Inc. MOFG, Associated Banc-Corp ASBC and First Busey Corporation BUSE. While MidWest One Financial holds a Zacks Rank #1 (Strong Buy), Associated Banc and First Busey carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
This slump shouldn't be too much of a surprise to investors, as the Banking company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
MBWM currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
Some better-ranked stocks in the Banking industry include MidWest One Financial Group, Inc. MOFG, Associated Banc-Corp ASBC and First Busey Corporation BUSE. While MidWest One Financial holds a Zacks Rank #1 (Strong Buy), Associated Banc and First Busey carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
FIRST BUSEY-A BUSE: Free Stock Analysis Report
MERCANTILE BANK MBWM: Free Stock Analysis Report
MIDWESTONE FINL MOFG: Free Stock Analysis Report
To read this article on Zacks.com click here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in