Mercantile Bank Corporation

NasdaqGS:MBWM Stock Report

Market Cap: US$733.3m

Mercantile Bank Past Earnings Performance

Past criteria checks 2/6

Mercantile Bank has been growing earnings at an average annual rate of 13.9%, while the Banks industry saw earnings growing at 7% annually. Revenues have been growing at an average rate of 9.7% per year. Mercantile Bank's return on equity is 13.7%, and it has net margins of 36%.

Key information

13.9%

Earnings growth rate

14.4%

EPS growth rate

Banks Industry Growth11.2%
Revenue growth rate9.7%
Return on equity13.7%
Net Margin36.0%
Last Earnings Update30 Sep 2024

Recent past performance updates

Recent updates

A Great Quarter Is A Great Time To Downgrade Mercantile Bank Corporation

Oct 15

Mercantile Bank's (NASDAQ:MBWM) Dividend Will Be Increased To $0.36

Aug 21
Mercantile Bank's (NASDAQ:MBWM) Dividend Will Be Increased To $0.36

Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.36

Jul 19
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.36

Mercantile Bank: Q2 2024 Earnings Spike The Price

Jul 17

Mercantile Bank Corporation Just Beat EPS By 17%: Here's What Analysts Think Will Happen Next

Apr 19
Mercantile Bank Corporation Just Beat EPS By 17%: Here's What Analysts Think Will Happen Next

Mercantile Bank: A Fantastic Prospect For Investors To Bank On

Apr 14

Mercantile Bank (NASDAQ:MBWM) Is Paying Out A Larger Dividend Than Last Year

Jan 22
Mercantile Bank (NASDAQ:MBWM) Is Paying Out A Larger Dividend Than Last Year

Earnings Update: Here's Why Analysts Just Lifted Their Mercantile Bank Corporation (NASDAQ:MBWM) Price Target To US$44.67

Jan 19
Earnings Update: Here's Why Analysts Just Lifted Their Mercantile Bank Corporation (NASDAQ:MBWM) Price Target To US$44.67

Mercantile Bank: Analysis Of Q4 2023 Earnings, Maintain Hold

Jan 19

Mercantile Bank (NASDAQ:MBWM) Will Pay A Larger Dividend Than Last Year At $0.34

Aug 28
Mercantile Bank (NASDAQ:MBWM) Will Pay A Larger Dividend Than Last Year At $0.34

Mercantile Bank (NASDAQ:MBWM) Has Announced That It Will Be Increasing Its Dividend To $0.34

Aug 14
Mercantile Bank (NASDAQ:MBWM) Has Announced That It Will Be Increasing Its Dividend To $0.34

Mercantile Bank (NASDAQ:MBWM) Will Pay A Larger Dividend Than Last Year At $0.34

Jul 21
Mercantile Bank (NASDAQ:MBWM) Will Pay A Larger Dividend Than Last Year At $0.34

Mercantile Bank (NASDAQ:MBWM) Is Paying Out A Larger Dividend Than Last Year

Apr 21
Mercantile Bank (NASDAQ:MBWM) Is Paying Out A Larger Dividend Than Last Year

Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.33

Jan 20
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.33

Mercantile Bank GAAP EPS of $1.01 beats by $0.03, revenue of $49.6M beats by $1.9M

Oct 18

Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.32

Jul 22
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To $0.32

Mercantile Bank raises dividend by 3.2% to $0.32

Jul 19

Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To US$0.31

Jan 21
Mercantile Bank (NASDAQ:MBWM) Is Increasing Its Dividend To US$0.31

Revenue & Expenses Breakdown

How Mercantile Bank makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:MBWM Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 24222801020
30 Jun 2422081990
31 Mar 2422083960
31 Dec 2321882950
30 Sep 2321884940
30 Jun 2321079930
31 Mar 2319871920
31 Dec 2218361910
30 Sep 2217851920
30 Jun 2217550910
31 Mar 2218256910
31 Dec 2118559900
30 Sep 2117961860
30 Jun 2117557870
31 Mar 2116048850
31 Dec 2015344830
30 Sep 2014643810
30 Jun 2014445770
31 Mar 2014748750
31 Dec 1915049740
30 Sep 1914648730
30 Jun 1914245720
31 Mar 1913943710
31 Dec 1813842700
30 Sep 1813438690
30 Jun 1813237670
31 Mar 1813035650
31 Dec 1712431640
30 Sep 1712331620
30 Jun 1712131620
31 Mar 1712131610
31 Dec 1612132610
30 Sep 1612030610
30 Jun 1611930610
31 Mar 1611929610
31 Dec 1511827600
30 Sep 1511827600
30 Jun 1511625590
31 Mar 1510520540
31 Dec 149117470
30 Sep 147916420
30 Jun 146514340
31 Mar 146116300
31 Dec 136217280

Quality Earnings: MBWM has high quality earnings.

Growing Profit Margin: MBWM's current net profit margins (36%) are lower than last year (38.6%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: MBWM's earnings have grown by 13.9% per year over the past 5 years.

Accelerating Growth: MBWM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MBWM had negative earnings growth (-4.8%) over the past year, making it difficult to compare to the Banks industry average (-11.8%).

Return on Equity

High ROE: MBWM's Return on Equity (13.7%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 08:03
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 11 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.

AnalystInstitution
Kevin ReeveyD.A. Davidson & Co.
Brendan NosalHovde Group, LLC
Erik ZwickHovde Group, LLC