ChannelAdvisor (ECOM) Reaches $8.75 After 4.00% Down Move; Mercantile Bank (MBWM) Has 1.25 Sentiment

December 8, 2017 - By Adrian Erickson

The stock of ChannelAdvisor Corporation (NYSE:ECOM) is a huge mover today! The stock decreased 3.31% or $0.3 during the last trading session, reaching $8.75. About 72,768 shares traded. ChannelAdvisor Corporation (NYSE:ECOM) has declined 1.12% since December 8, 2016 and is downtrending. It has underperformed by 17.82% the S&P500.The move comes after 6 months negative chart setup for the $232.49 million company. It was reported on Dec, 8 by Barchart.com. We have $8.40 PT which if reached, will make NYSE:ECOM worth $9.30M less.

Mercantile Bank Corporation operates as the bank holding firm for Mercantile Bank of Michigan that provides commercial banking services for small- to medium-sized businesses and individuals in the United States. The company has market cap of $581.34 million. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit, as well as repurchase agreements. It has a 18.47 P/E ratio. The firm also offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner occupied real estate, non-owner occupied real estate, and multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as loans for new and used automobiles, boats, and credit cards, as well as overdraft protection for its checking account customers.

Since January 1, 0001, it had 0 insider buys, and 1 sale for $240,059 activity.

The stock decreased 1.81% or $0.65 during the last trading session, reaching $35.25. About 12,478 shares traded. Mercantile Bank Corporation (MBWM) has risen 34.10% since December 8, 2016 and is uptrending. It has outperformed by 17.40% the S&P500.

Analysts await Mercantile Bank Corporation (NASDAQ:MBWM) to report earnings on January, 16. They expect $0.50 earnings per share, up 2.04% or $0.01 from last year’s $0.49 per share. MBWM’s profit will be $8.25M for 17.63 P/E if the $0.50 EPS becomes a reality. After $0.51 actual earnings per share reported by Mercantile Bank Corporation for the previous quarter, Wall Street now forecasts -1.96% negative EPS growth.

Banc Funds Co Llc holds 2.02% of its portfolio in Mercantile Bank Corporation for 1.41 million shares. North Star Asset Management Inc owns 316,416 shares or 1.01% of their US portfolio. Moreover, Tributary Capital Management Llc has 0.82% invested in the company for 296,508 shares. The Connecticut-based Thomson Horstmann & Bryant Inc has invested 0.4% in the stock. Clenar Muke Llc, a Michigan-based fund reported 10,438 shares.

Analysts await ChannelAdvisor Corporation (NYSE:ECOM) to report earnings on February, 8. They expect $-0.04 EPS, down 119.05% or $0.25 from last year’s $0.21 per share. After $-0.15 actual EPS reported by ChannelAdvisor Corporation for the previous quarter, Wall Street now forecasts -73.33% EPS growth.

Among 6 analysts covering ChannelAdvisor (NYSE:ECOM), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. ChannelAdvisor has $18.0 highest and $10.0 lowest target. $13.30’s average target is 52.00% above currents $8.75 stock price. ChannelAdvisor had 16 analyst reports since November 6, 2015 according to SRatingsIntel. The company was maintained on Monday, November 20 by KeyBanc Capital Markets. Stifel Nicolaus upgraded the shares of ECOM in report on Friday, November 6 to “Buy” rating. The rating was maintained by Needham with “Buy” on Friday, September 15. The stock of ChannelAdvisor Corporation (NYSE:ECOM) earned “Equal-Weight” rating by First Analysis on Tuesday, May 9. The rating was initiated by Needham on Friday, September 23 with “Buy”. The stock of ChannelAdvisor Corporation (NYSE:ECOM) has “Hold” rating given on Monday, October 16 by KeyBanc Capital Markets. The firm earned “Buy” rating on Thursday, November 2 by Stifel Nicolaus. The company was upgraded on Thursday, August 31 by First Analysis. Robert W. Baird maintained the shares of ECOM in report on Friday, November 3 with “Hold” rating. Stifel Nicolaus maintained ChannelAdvisor Corporation (NYSE:ECOM) rating on Thursday, August 3. Stifel Nicolaus has “Buy” rating and $1500 target.

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