MBWM

Mercantile Bank Corp

60.40

Nov 03 • 1:04 PM ET -0.80 (-1.31%)

Financial Banks - Regional USA Small NASD

Peers: IBCP COFS HBNC LKFN FRME FMAO GABC ONB FLG HBAN

| Held by: AVUV VTI IWM DFSV DFAT VXF KRE IWN DFAS VTWO

Index	RUT
Market Cap	1.04B
Enterprise Value	-
Income	95.53M
Sales	391.19M
Book/sh	43.03
Cash/sh	-
Dividend Est.	1.58 (2.62%)
Dividend TTM	1.56 (2.58%)
Dividend Ex-Date	Dec 04, 2026
Dividend Gr. 3/5Y	5.98% 6.02%
Payout	27.44%
Employees	744
IPO	Oct 24, 1997

P/E	10.76
Forward P/E	10.30
PEG	2.27
P/S	2.67
P/B	1.40
P/C	-
P/FCF	11.20
EV/EBITDA	-
EV/Sales	-
Quick Ratio	-
Current Ratio	0.11
Debt/Eq	0.90
LT Debt/Eq	0.49
Option/Short	Yes / Yes

EPS (ttm)	5.61
EPS next Y	5.86
EPS next Q	1.36
EPS this Y	1.89%
EPS next Y	5.17%
EPS next 5Y	4.53%
EPS past 3/5Y	12.39% 15.04%
Sales past 3/5Y	20.23% 13.95%
EPS Y/Y TTM	6.38%
Sales Y/Y TTM	5.40%
EPS Q/Q	-4.75%
Sales Q/Q	6.81%
Earnings	Oct 20 BMO
EPS/Sales Surpr.	3.22% 3.34%

Insider Own	3.86%
Insider Trans	0.00%
Inst Own	69.09%
Inst Trans	2.62%
ROA	1.42%
ROE	13.63%
ROIC	8.64%
Gross Margin	-
Oper. Margin	29.45%
Profit Margin	24.42%
SMA20	1.78%
SMA50	1.04%
SMA200	8.78%
Trades

Shs Outstand	17.29M
Shs Float	16.62M
Short Float	3.38%
Short Ratio	4.90
Short Interest	0.56M
52W High	62.95 -4.06%
52W Low	43.00 40.46%
Volatility	2.57% 2.24%
ATR (14)	1.40
RSI (14)	54.09
Beta	0.83
Rel Volume	0.47
Avg Volume	114.66K
Volume	30,516

Perf Week	-0.47%
Perf Month	2.21%
Perf Quarter	-2.55%
Perf Half Y	16.17%
Perf YTD	25.56%
Perf Year	36.21%
Perf 3Y	74.10%
Perf 5Y	67.03%
Perf 10Y	132.04%
Recom	2.50
Target Price	64.17
Prev Close	61.20
Price	60.40
Change %	-1.31%

Consensus

Buy

Avg. Price Target

$64.17

Implied Upside

+6.2%

Analysts7incl. previous ratings

Rating Distribution3 Buy · 4 Hold · 0 Sell

Date	Action	Analyst	Rating Change	Price Target Change	Implied Upside
Sep 02, 2026	Resumed	RRaymond James	Outperform	$65	+7.6%
Jul 22, 2026	Downgrade	HHovde Group	Outperform → Market Perform	$62	+2.7%
Mar 25, 2026	Initiated	SStephens	Equal-Weight	$54	-10.6%
Dec 18, 2025	Reiterated	HHovde Group	Outperform	$53 → $56	-7.3%
Jul 24, 2025	Upgrade	RRaymond James	Mkt Perform → Outperform	$55	-8.9%
Jan 22, 2025	Upgrade	HHovde Group	Market Perform → Outperform	$54	-10.6%
May 08, 2024	Downgrade	JJanney	Buy → Neutral
Mar 04, 2024	Downgrade	HHovde Group	Outperform → Market Perform
Jan 16, 2024	Upgrade	JJanney	Neutral → Buy
Mar 07, 2023	Upgrade	PPiper Sandler	Neutral → Overweight	$38 → $40	-33.8%
Jan 18, 2023	Downgrade	RRaymond James	Outperform → Mkt Perform
Oct 06, 2022	Downgrade	RRaymond James	Strong Buy → Outperform	$44 → $35	-42.0%
Jul 28, 2022	Upgrade	HHovde Group	Market Perform → Outperform	$41	-32.1%
Mar 02, 2022	Upgrade	RRaymond James	Outperform → Strong Buy	$44	-27.1%
Jan 19, 2022	Upgrade	RRaymond James	Mkt Perform → Outperform	$44	-27.1%
Mar 01, 2018	Upgrade	KKeefe Bruyette	Mkt Perform → Outperform
Jul 06, 2017	Initiated	DDA Davidson	Neutral	$35	-42.0%
Jan 18, 2017	Downgrade	RRaymond James	Outperform → Mkt Perform
Nov 29, 2016	Downgrade	KKeefe Bruyette	Outperform → Mkt Perform
Nov 21, 2016	Initiated	HHovde Group	Market Perform	$32	-47.0%

Oct-20-26 05:15AM	Mercantile Bank: Q3 Earnings Snapshot (Associated Press)
05:05AM	Mercantile Bank Corporation Announces Robust Third Quarter 2026 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Declares Regular Cash Dividend (PR Newswire)
Sep-30-26 10:00AM	Mercantile Bank Corporation Announces Third Quarter 2026 Results Conference Call and Webcast (PR Newswire)
Sep-23-26 02:00PM	MERCANTILE BANK HELPS DELIVER $150,000 FOR AFFORDABLE HOUSING INITIATIVES ACROSS MICHIGAN (PR Newswire)
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Jul-21-26 05:01PM	Mercantile Bank Corp (MBWM) Q2 2026 Earnings Call Highlights: Strong Financial Performance and ... (GuruFocus.com)
05:16AM	Mercantile Bank: Q2 Earnings Snapshot (Associated Press)
05:05AM	Mercantile Bank Corporation Announces Strong Second Quarter 2026 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Increases Regular Cash Dividend (PR Newswire)
Jul-14-26 10:00AM	Mercantile Community Partners Reaches 500 Affordable Housing Units Financed Across Michigan (PR Newswire)
Jun-30-26 09:00AM	Mercantile Bank Corporation Announces Second Quarter 2026 Results Conference Call and Webcast (PR Newswire)
May-19-26 09:02PM	Israel Discount Bank Ltd (ISDAF) Q1 2026 Earnings Call Highlights: Robust Credit Growth and ... (GuruFocus.com)
Apr-22-26 03:02AM	Mercantile Bank Corp (MBWM) Q1 2026 Earnings Call Highlights: Strong Revenue and Deposit Growth ... (GuruFocus.com)
Apr-21-26 05:14AM	Mercantile Bank: Q1 Earnings Snapshot (Associated Press)
05:05AM	Mercantile Bank Corporation Announces Solid First Quarter 2026 Results (PR Newswire)
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05:00AM	Mercantile Bank Corporation Declares Regular Cash Dividend (PR Newswire)
Mar-31-26 10:00AM	Mercantile Bank Corporation Announces First Quarter 2026 Results Conference Call and Webcast (PR Newswire)
Mar-16-26 09:00PM	Israel Discount Bank Ltd (ISDAY) Q4 2025 Earnings Call Highlights: Strong Annual Performance ... (GuruFocus.com)
Feb-25-26 11:45AM	This is Why Mercantile Bank (MBWM) is a Great Dividend Stock (Zacks)
Feb-09-26 11:45AM	Mercantile Bank (MBWM) Could Be a Great Choice (Zacks)
Jan-23-26 11:45AM	Are You Looking for a High-Growth Dividend Stock? (Zacks)
Jan-20-26 06:30PM	Mercantile Bank (MBWM) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates (Zacks) +5.77%
04:00PM	Mercantile Bank Corp (MBWM) Q4 2025 Earnings Call Highlights: Strong Financial Performance and ... (GuruFocus.com)
11:17AM	Mercantile Bank Q4 Earnings Call Highlights (MarketBeat)
05:20AM	Mercantile Bank: Q4 Earnings Snapshot (Associated Press Finance)
05:05AM	Mercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2025 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Increases Regular Cash Dividend (PR Newswire)
Jan-15-26 10:00AM	Associated Banc-Corp (ASB) Earnings Expected to Grow: Should You Buy? (Zacks)
Jan-14-26 09:15AM	Seeking Clues to Mercantile Bank (MBWM) Q4 Earnings? A Peek Into Wall Street Projections for Key Metrics (Zacks)
Jan-13-26 10:00AM	Mercantile Bank (MBWM) Reports Next Week: Wall Street Expects Earnings Growth (Zacks)
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Dec-31-25 04:00PM	Mercantile Bank Corporation Announces Completion of Merger with Eastern Michigan Financial Corporation (PR Newswire)
Dec-29-25 10:00AM	Mercantile Bank Corporation Announces Fourth Quarter and Full Year 2025 Results Conference Call and Webcast (PR Newswire)
Dec-18-25 06:33AM	Federal Reserve Bank of Chicago approves Mercantile Bank-Eastern merger (Retail Banker International)
Dec-16-25 06:23PM	Mercantile Bank Corporation and Eastern Michigan Financial Corporation Announce Receipt of All Required Regulatory Approvals for Pending Merger (PR Newswire)
Nov-26-25 09:10AM	Improve Your Retirement Income with These 3 Top-Ranked Dividend Stocks (Zacks)
Oct-21-25 05:00PM	Mercantile Bank Corp (MBWM) Q3 2025 Earnings Call Highlights: Strong Earnings Growth Amid ... (GuruFocus.com)
09:30AM	Compared to Estimates, Mercantile Bank (MBWM) Q3 Earnings: A Look at Key Metrics (Zacks)
07:05AM	Mercantile Bank (MBWM) Beats Q3 Earnings and Revenue Estimates (Zacks)
05:10AM	Mercantile Bank: Q3 Earnings Snapshot (Associated Press Finance)
05:05AM	Mercantile Bank Corporation Announces Strong Third Quarter 2025 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Declares Regular Cash Dividend (PR Newswire)
Oct-20-25 09:20AM	Earnings To Watch: Mercantile Bank Corp (MBWM) Reports Q3 2025 Result (GuruFocus.com)
Oct-16-25 11:45AM	Why Mercantile Bank (MBWM) is a Great Dividend Stock Right Now (Zacks) -5.15%
Sep-30-25 11:45AM	Why Mercantile Bank (MBWM) is a Top Dividend Stock for Your Portfolio (Zacks)
11:09AM	Mercantile Bank Corporation Announces Third Quarter 2025 Results Conference Call and Webcast (PR Newswire)
Sep-15-25 09:00AM	Mercantile Bank Selects Jack Henry for Focus on Innovation and Growth (PR Newswire)
Sep-12-25 11:45AM	Mercantile Bank (MBWM) is a Top Dividend Stock Right Now: Should You Buy? (Zacks)
Aug-27-25 12:00PM	Mercantile Bank (MBWM) Upgraded to Strong Buy: Here's What You Should Know (Zacks)
11:45AM	Mercantile Bank (MBWM) Could Be a Great Choice (Zacks)
Aug-11-25 11:45AM	Mercantile Bank (MBWM) Could Be a Great Choice (Zacks)
Jul-25-25 12:00PM	Mercantile Bank (MBWM) Upgraded to Strong Buy: Here's Why (Zacks)
07:12AM	New Strong Buy Stocks for July 25th (Zacks)
06:38AM	Best Value Stocks to Buy for July 25th (Zacks)
Jul-24-25 11:45AM	Are You Looking for a High-Growth Dividend Stock? (Zacks)
08:26AM	Michigan, Georgia banks propose to buy in-state peers (Banking Dive)
Jul-23-25 03:10AM	Mercantile Bank Corp (MBWM) Q2 2025 Earnings Call Highlights: Strong Net Income Growth and ... (GuruFocus.com)
Jul-22-25 09:30AM	Here's What Key Metrics Tell Us About Mercantile Bank (MBWM) Q2 Earnings (Zacks)
07:05AM	Mercantile Bank (MBWM) Q2 Earnings and Revenues Surpass Estimates (Zacks)
05:20AM	Mercantile Bank: Q2 Earnings Snapshot (Associated Press Finance)
05:10AM	Mercantile Bank Corporation Announces Robust Second Quarter 2025 Results and Partnership with Eastern Michigan Financial Corporation (PR Newswire)
05:05AM	Mercantile Bank Corporation and Eastern Michigan Financial Corporation Announce Definitive Merger Agreement (PR Newswire)
05:00AM	Mercantile Bank Corporation Increases Regular Cash Dividend (PR Newswire)
Jul-21-25 09:23AM	Mercantile Bank Corp (MBWM) Q2 2025: Everything You Need To Know Ahead Of Earnings (GuruFocus.com)
Jun-30-25 10:30AM	Mercantile Bank Corporation Announces Second Quarter 2025 Results Conference Call and Webcast (PR Newswire)
May-01-25 10:50AM	MERCANTILE BANK PARTNERS IN STATEWIDE INVESTMENT TO ADVANCE AFFORDABLE HOUSING INITIATIVES (PR Newswire)
Apr-23-25 02:43AM	Q1 2025 Mercantile Bank Corp Earnings Call (Thomson Reuters StreetEvents)
Apr-22-25 02:42PM	Mercantile Bank Corporation (MBWM) Q1 2025 Earnings Call Transcript (Seeking Alpha)
09:30AM	Mercantile Bank (MBWM) Reports Q1 Earnings: What Key Metrics Have to Say (Zacks)
07:05AM	Mercantile Bank (MBWM) Tops Q1 Earnings Estimates (Zacks)
05:10AM	Mercantile Bank: Q1 Earnings Snapshot (Associated Press Finance)
05:05AM	Mercantile Bank Corporation Announces Strong First Quarter 2025 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Declares Regular Cash Dividend (PR Newswire)
Mar-31-25 09:00AM	Mercantile Bank Corporation Announces First Quarter 2025 Results Conference Call and Webcast (PR Newswire)
Jan-22-25 02:02AM	Mercantile Bank Corp (MBWM) Q4 2024 Earnings Call Highlights: Strong Deposit Growth and Asset ... (GuruFocus.com)
12:21AM	Q4 2024 Mercantile Bank Corp Earnings Call (Thomson Reuters StreetEvents)
Jan-21-25 09:30AM	Compared to Estimates, Mercantile Bank (MBWM) Q4 Earnings: A Look at Key Metrics (Zacks) +5.77%
07:05AM	Mercantile Bank (MBWM) Q4 Earnings and Revenues Beat Estimates (Zacks)
05:45AM	Mercantile Bank: Q4 Earnings Snapshot (Associated Press Finance)
05:05AM	Mercantile Bank Corporation Announces Robust Fourth Quarter and Full-Year 2024 Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Increases Regular Cash Dividend (PR Newswire)
Jan-20-25 07:03AM	Earnings To Watch: Mercantile Bank Corp (MBWM) Reports Q4 2024 Result (GuruFocus.com)
Jan-14-25 10:00AM	Mercantile Bank (MBWM) Expected to Beat Earnings Estimates: What to Know Ahead of Q4 Release (Zacks)
Jan-09-25 12:00PM	Mercantile Bank (MBWM) Upgraded to Buy: Here's What You Should Know (Zacks)
Jan-02-25 10:00AM	Mercantile Bank Corporation Announces Fourth Quarter and Full Year 2024 Results Conference Call and Webcast (PR Newswire)
Oct-16-24 05:19AM	Q3 2024 Mercantile Bank Corp Earnings Call (Thomson Reuters StreetEvents)
03:01AM	Mercantile Bank Corp (MBWM) Q3 2024 Earnings Call Highlights: Strong Deposit Growth and Asset ... (GuruFocus.com)
Oct-15-24 09:30AM	Mercantile Bank (MBWM) Reports Q3 Earnings: What Key Metrics Have to Say (Zacks)
07:05AM	Mercantile Bank (MBWM) Beats Q3 Earnings and Revenue Estimates (Zacks)
05:12AM	Mercantile Bank: Q3 Earnings Snapshot (Associated Press Finance)
05:05AM	Mercantile Bank Corporation Announces Strong Third Quarter Results (PR Newswire)
05:00AM	Mercantile Bank Corporation Declares Regular Cash Dividend (PR Newswire)
Oct-14-24 09:02AM	Mercantile Bank Corp (MBWM) Q3 2024 Earnings Report Preview: What To Look For (GuruFocus.com)
Oct-10-24 09:15AM	What Analyst Projections for Key Metrics Reveal About Mercantile Bank (MBWM) Q3 Earnings (Zacks)
Sep-30-24 10:00AM	Mercantile Bank Corporation Announces Third Quarter 2024 Results Conference Call and Webcast (PR Newswire)
Jul-17-24 01:14AM	Q2 2024 Mercantile Bank Corp Earnings Call (Thomson Reuters StreetEvents)
Jul-16-24 10:52AM	MBWM Stock Earnings: Mercantile Bank Beats EPS, Beats Revenue for Q2 2024 (InvestorPlace) +12.06%
07:05AM	Mercantile Bank (MBWM) Meets Q2 Earnings Estimates (Zacks)

Show Previous News

Insider Trading	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
PRICE MICHAEL H	Director	Nov 13 '25	Sale	45.84	4,577	209,799	11,898	Nov 17 04:23 PM

Mercantile Bank Corp. operates as a bank holding company for Mercantile Bank of Michigan. It offers checking and savings accounts, credit and debit cards, mobile and Internet banking, business loans, mobile wallet, health savings account, and treasury management services. The company was founded on July 15, 1997 and is headquartered in Grand Rapids, MI.

PresidentMr. Raymond E. Reitsma

Executive VPMr. Charles E. Christmas

Executive VPMr. Scott P. Setlock

Executive VP & Chief Human Resource OfficerMr. Brett E. Hoover

Executive VP & Chief Commercial Banking Officer of the Mercantile BankMr. Mark S. Augustyn

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MBWM

Mercantile Bank Corp

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