Mercantile Bank Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:MBWM Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
25 Nov 24	SellUS$300,150	Robert Kaminski	Individual	5,800	US$51.75
14 Nov 24	SellUS$198,040	Robert Kaminski	Individual	4,000	US$49.51
26 Aug 24	SellUS$227,860	Michael Price	Individual	5,000	US$45.58
22 Jul 24	SellUS$242,210	Robert Kaminski	Individual	5,000	US$48.73
19 Jul 24	SellUS$235,400	Michael Price	Individual	5,000	US$47.08
11 Jun 24	BuyUS$9,972	Nelson Sanchez	Individual	277	US$36.10
07 Jun 24	BuyUS$9,995	Nelson Sanchez	Individual	270	US$37.10
11 Mar 24	BuyUS$3,651	Nelson Sanchez	Individual	100	US$36.51

Insider Trading Volume

Insider Buying: MBWM insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of MBWM?
Owner Type	Number of Shares	Ownership Percentage
State or Government	8,732	0.0541%
Individual Insiders	472,590	2.93%
General Public	5,443,385	33.7%
Institutions	10,217,222	63.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 51.25% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.93%	BlackRock, Inc.	1,602,909	US$71.8m	2.59%	no data
7.05%	Dimensional Fund Advisors LP	1,137,354	US$50.9m	-0.96%	0.01%
5.37%	The Vanguard Group, Inc.	867,525	US$38.9m	3.58%	no data
3.37%	Renaissance Technologies LLC	543,586	US$24.3m	2.39%	0.04%
2.72%	State Street Global Advisors, Inc.	438,524	US$19.6m	-2.97%	no data
2.34%	Geode Capital Management, LLC	376,979	US$16.9m	3.91%	no data
2.25%	North Star Asset Management, Inc	362,759	US$16.2m	-0.29%	0.74%
2.23%	American Century Investment Management Inc	360,344	US$16.1m	16.7%	0.01%
1.89%	1st & Main Growth Partners	305,847	US$13.7m	-9.34%	1.42%
1.71%	LSV Asset Management	276,629	US$12.4m	6.34%	0.02%
1.53%	Tributary Capital Management, LLC	247,432	US$11.1m	-0.42%	0.85%
1.22%	Charles Schwab Investment Management, Inc.	196,324	US$8.8m	4.48%	no data
1.12%	Northern Trust Global Investments	179,999	US$8.1m	0.93%	no data
1.02%	ProShare Advisors LLC	165,396	US$7.4m	-3.89%	0.02%
0.95%	Bridgeway Capital Management, LLC	152,934	US$6.8m	3.63%	0.11%
0.72%	Charles Christmas	116,008	US$5.2m	0%	no data
0.7%	Allianz Asset Management GmbH	113,605	US$5.1m	-4.03%	no data
0.7%	Mercer Global Advisors Inc.	112,377	US$5.0m	0%	0.01%
0.69%	Epoch Investment Partners, Inc.	111,754	US$5.0m	94.2%	0.08%
0.69%	BNY Asset Management	110,688	US$5.0m	-8.29%	no data
0.68%	Segall Bryant & Hamill, LLC	110,482	US$4.9m	-11.6%	0.06%
0.66%	Robert Kaminski	107,040	US$4.8m	-14.1%	no data
0.63%	Goldman Sachs Group, Investment Banking and Securities Investments	101,845	US$4.6m	74.6%	no data
0.54%	Morgan Stanley, Investment Banking and Brokerage Investments	87,386	US$3.9m	30.8%	no data
0.53%	Millennium Management LLC	86,218	US$3.9m	50.9%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 06:09
End of Day Share Price	2024/12/30 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 .

Analyst Sources

Mercantile Bank Corporation is covered by 10 analysts. 5 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
Erik Zwick	Hovde Group, LLC