Mercantile Bank (MBWM) Stock Overview
Operates as the bank holding company for Mercantile Bank that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
Rewards
Risk Analysis
No risks detected for MBWM from our risk checks.
MBWM Community Fair Values
Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Mercantile Bank Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$52.20 |
| 52 Week High | US$55.77 |
| 52 Week Low | US$42.17 |
| Beta | 0.83 |
| 1 Month Change | 3.12% |
| 3 Month Change | -0.34% |
| 1 Year Change | 19.48% |
| 3 Year Change | 94.99% |
| 5 Year Change | 61.61% |
| Change since IPO | 512.08% |
Recent News & Updates
Narrative Update • May 07
MBWM: Higher Future P/E And Neutral Coverage Stance Will Support Upside Potential
Analysts have adjusted the price target on Mercantile Bank to $59.33, citing updated assumptions around discount rates and future P/E that align with recent Street research, including a $3 target change and a new neutral initiation. Analyst Commentary Bullish Takeaways Bullish analysts view the $3 price target adjustment as better alignment between Mercantile Bank's current trading P/E and where they think the stock should sit relative to peers with similar profiles.Narrative Update • Apr 23
MBWM: Higher Assumed Future P/E Will Support Upside Potential
Analysts now set a revised price target for Mercantile Bank at about $59.33, compared with the prior fair value of $52.80. This reflects updated views on discount rates, growth, margins, and a higher assumed future P/E in light of recent Street research that includes a $3 target increase and a neutral initiation.Recent updates
Narrative Update • May 07
MBWM: Higher Future P/E And Neutral Coverage Stance Will Support Upside Potential
Analysts have adjusted the price target on Mercantile Bank to $59.33, citing updated assumptions around discount rates and future P/E that align with recent Street research, including a $3 target change and a new neutral initiation. Analyst Commentary Bullish Takeaways Bullish analysts view the $3 price target adjustment as better alignment between Mercantile Bank's current trading P/E and where they think the stock should sit relative to peers with similar profiles.Narrative Update • Apr 23
MBWM: Higher Assumed Future P/E Will Support Upside Potential
Analysts now set a revised price target for Mercantile Bank at about $59.33, compared with the prior fair value of $52.80. This reflects updated views on discount rates, growth, margins, and a higher assumed future P/E in light of recent Street research that includes a $3 target increase and a neutral initiation.Analysis Article • Jan 23
Mercantile Bank (NASDAQ:MBWM) Has Announced That It Will Be Increasing Its Dividend To $0.39
Mercantile Bank Corporation ( NASDAQ:MBWM ) has announced that it will be increasing its dividend from last year's...Seeking Alpha • Jan 22
Mercantile Bank: Excellent Underwriting And Expanding Margins
Summary Mercantile Bank is initiated with a "Buy" rating, targeting an 11% upside to a $59 fair value plus a 2.9% dividend yield. MBWM's Q4 earnings beat, robust credit quality, and the Eastern Michigan Bank acquisition expand its Michigan footprint and balance sheet liquidity. Loan growth is guided at 5%-7% for 2024, with NIM expansion expected from improved deposit mix and asset repricing, even amid anticipated Fed rate cuts. Strong capital ratios, excellent reserve coverage, and likely further M&A position MBWM for sustained growth and multiple expansion toward 10x earnings. Read the full article on Seeking AlphaNarrative Update • Dec 05
MBWM: Clean Asset Quality Will Support Upside Despite Higher Expense Drag
Analysts have modestly reduced their price target on Mercantile Bank to $52.00 from $55.00, citing solid Q3 results with clean asset quality and strong deposit growth, but also noting a higher expense base, tighter net interest margins, and softer loan growth due to elevated payoffs. Analyst Commentary Analyst commentary on Mercantile Bank reflects a balanced view, with constructive interpretations of the latest quarter offset by clear acknowledgments of emerging headwinds for growth and profitability.Narrative Update • Nov 21
MBWM: Asset Quality And Deposit Momentum Will Offset Higher Expenses Ahead
Analysts have reduced Mercantile Bank’s price target from $55 to $52. They cite a larger expense base, tighter net interest margin, and slower loan growth, even as asset quality and deposit growth continue.Narrative Update • Nov 06
MBWM: Medium-Term Strength Will Rely On Asset Quality Amid Higher Expenses
Analysts have lowered their price target for Mercantile Bank from $55 to $52. They cite higher expenses, a tighter net interest margin, and slower loan growth, despite continued strong asset quality and deposit growth.Narrative Update • Oct 23
Analysts Lower Mercantile Bank Target as Margins Narrow and Expenses Rise Despite Solid Results
Analysts have reduced their price target for Mercantile Bank from $55.60 to $52.80. They cite larger expenses, slightly lower profit margins, and modest loan growth, even though the company reported solid Q3 results and continued strength in assets and deposits.Analysis Article • Jul 25
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.38
Mercantile Bank Corporation ( NASDAQ:MBWM ) will increase its dividend from last year's comparable payment on the 17th...Analysis Article • Mar 04
Mercantile Bank's (NASDAQ:MBWM) Shareholders Will Receive A Bigger Dividend Than Last Year
Mercantile Bank Corporation ( NASDAQ:MBWM ) has announced that it will be increasing its dividend from last year's...Analysis Article • Jan 24
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.37
The board of Mercantile Bank Corporation ( NASDAQ:MBWM ) has announced that it will be paying its dividend of $0.37 on...
New Narrative • Oct 20
Rising Costs And Slowing Loan Growth Threaten Bank Earnings Stability
Elevated loan-to-deposit ratio and declining net interest margins indicate potential liquidity strain and reduced profitability.Seeking Alpha • Oct 15
A Great Quarter Is A Great Time To Downgrade Mercantile Bank Corporation
Summary Mercantile Bank Corporation's Q3 2024 results exceeded analyst expectations, with revenue and profits higher than anticipated, despite a year-over-year decline in net profits. The stock has risen 26.1% since April, outperforming the S&P 500, but asset quality concerns and potential interest rate cuts prompted a downgrade to “buy.”. Net interest income increased due to reduced credit loss provisions and higher interest-earning assets, though net interest margin continues to decline. Despite a higher valuation and asset quality drop, Mercantile Bank's balance sheet growth and attractive share price still make it a solid “buy” candidate. Read the full article on Seeking AlphaAnalysis Article • Aug 21
Mercantile Bank's (NASDAQ:MBWM) Dividend Will Be Increased To $0.36
The board of Mercantile Bank Corporation ( NASDAQ:MBWM ) has announced that it will be paying its dividend of $0.36 on...Analysis Article • Jul 19
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.36
The board of Mercantile Bank Corporation ( NASDAQ:MBWM ) has announced that it will be paying its dividend of $0.36 on...Seeking Alpha • Jul 17
Mercantile Bank: Q2 2024 Earnings Spike The Price
Summary 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. Read the full article on Seeking AlphaAnalysis Article • Apr 19
Mercantile Bank Corporation Just Beat EPS By 17%: Here's What Analysts Think Will Happen Next
Mercantile Bank Corporation ( NASDAQ:MBWM ) just released its latest quarterly results and things are looking bullish...Seeking Alpha • Apr 14
Mercantile Bank: A Fantastic Prospect For Investors To Bank On
Summary Mercantile Bank Corporation is a small bank with consistent revenue and profit growth, making it an attractive investment opportunity. The bank offers commercial and retail banking services, as well as insurance products and trust services. Despite a decline in non-interest income and concerns about uninsured deposit exposure, the bank's shares are attractively priced and its asset quality is high. Read the full article on Seeking AlphaAnalysis Article • Jan 22
Mercantile Bank (NASDAQ:MBWM) Is Paying Out A Larger Dividend Than Last Year
Mercantile Bank Corporation ( NASDAQ:MBWM ) will increase its dividend from last year's comparable payment on the 13th...Analysis Article • Jan 19
Earnings Update: Here's Why Analysts Just Lifted Their Mercantile Bank Corporation (NASDAQ:MBWM) Price Target To US$44.67
It's been a good week for Mercantile Bank Corporation ( NASDAQ:MBWM ) shareholders, because the company has just...Seeking Alpha • Jan 19
Mercantile Bank: Analysis Of Q4 2023 Earnings, Maintain Hold
Summary Mercantile Bank has fully recovered from previous financial challenges and is close to an all-time high. The bank's net interest margin has remained high, but there has been a slight decline due to rising costs of funds. The bank's loan portfolio is primarily composed of variable-rate loans, which could be impacted by future interest rate reductions. Read the full article on Seeking AlphaShareholder Returns
| MBWM | US Banks | US Market | |
|---|---|---|---|
| 7D | 2.0% | 2.4% | 1.1% |
| 1Y | 19.5% | 22.3% | 28.7% |
Return vs Industry: MBWM underperformed the US Banks industry which returned 22.3% over the past year.
Return vs Market: MBWM underperformed the US Market which returned 28.7% over the past year.
Price Volatility
| MBWM volatility | |
|---|---|
| MBWM Average Weekly Movement | 3.4% |
| Banks Industry Average Movement | 3.4% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.4% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: MBWM has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: MBWM's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1997 | 765 | Ray Reitsma | www.mercbank.com |
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. The company accepts various deposit products, such as checking, savings, and term certificate accounts; time deposits; and certificates of deposit. It also provides commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans.
Mercantile Bank Corporation Fundamentals Summary
| MBWM fundamental statistics | |
|---|---|
| Market cap | US$901.72m |
| Earnings (TTM) | US$91.90m |
| Revenue (TTM) | US$252.69m |
9.8x
P/E Ratio1.2x
P/B RatioIs MBWM overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MBWM income statement (TTM) | |
|---|---|
| Revenue | US$252.69m |
| Cost of Revenue | US$0 |
| Gross Profit | US$252.69m |
| Other Expenses | US$160.79m |
| Earnings | US$91.90m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 5.32 |
| Gross Margin | 100.00% |
| Net Profit Margin | 36.37% |
| Debt/Equity Ratio | 98.0% |
How did MBWM perform over the long term?
See historical performance and comparisonDividends
3.0%
Current Dividend Yield27%
Payout RatioDoes MBWM pay a reliable dividends?
See MBWM dividend history and benchmarks| Mercantile Bank dividend dates | |
|---|---|
| Ex Dividend Date | Jun 05 2026 |
| Dividend Pay Date | Jun 17 2026 |
| Days until Ex dividend | 10 days |
| Days until Dividend pay date | 22 days |
Does MBWM pay a reliable dividends?
See MBWM dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 11:20 |
| End of Day Share Price | 2026/05/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mercantile Bank Corporation is covered by 9 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Kevin Reevey | D.A. Davidson & Co. |
| Brendan Nosal | Hovde Group, LLC |
| Damon DelMonte | Keefe, Bruyette, & Woods |