MBWM logo

MERCANTILE BANK CORP

MBWMNASDAQ
πŸ† #1948 by market capEarnings Oct 20US Equity
$60.85β–² $0.26 (+0.43%)
πŸŒ™ After hours$60.85β–² 0.00%Regular close Β· extended-hours price shown
1hβ€”
24hβ–² 0.4%
7dβ–Ό 1.8%
14dβ–² 0.8%
30dβ–² 5.9%
1yβ–² 30.8%
🏦Market Cap
$1.05B
Small Cap
πŸ“ˆRevenue Growth (YoY)
+59.3%
High Growth
πŸ“ŠGross Margin
β€”
πŸ’΅FCF Margin
12.5%
Healthy
βš–οΈP/S Ratio
2.5x
Cheap
Otter Score
42
Weak

Trading Snapshot

Day Range
$60.05 – $61.21
52-Week Range
$42.75 – $62.39
Volume
$2.77B
Avg Volume
$2.69B
Shares Outstanding
17.3M
Next Earnings
Sep 23, 2026

Fundamentals Snapshot

Annual Revenue
$372M
Last Q Revenue
$98M
P/E Ratio
11.1
P/S Ratio
2.5x
EPS (TTM)
$5.68
Dividend Yield
2.34%

Why Investors Own MBWM

  • βœ“High-growth profile β€” revenue up +26.4% YoY with expanding US Equity exposure.
  • βœ“Healthy economics β€” 70% gross margin and 18% free-cash-flow margin.
  • βœ“New products and segments could unlock additional revenue streams.
⚠️ Key Risks

Execution delays, intensifying competition, and valuation compression if growth decelerates.

Financial Trends

Revenue (TTM)
$372Mβ–² +22.3% YoY
Gross Margin (TTM)
69.6%β–² +4.4% YoY
Operating Income (TTM)
$138Mβ–² +22.3% YoY
Free Cash Flow (TTM)
$67Mβ–² +22.3% YoY

About MERCANTILE BANK CORP

Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options. Beyond core banking, Mercantile Bank supplies additional conveniences like courier services and secure deposit boxes. It also markets a comprehensive array of insurance policies, such as coverage for private auto, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella liability, small business needs, and life insurance. The bank's infrastructure further includes 22 automated teller machines (ATMs) and 19 video banking machines. As of January 18, 2022, the company maintained 44 branch locations. Established in 1997, Mercantile Bank Corporation's main office is situated in Grand Rapids, Michigan.

🦦

Otter Score Breakdown

β“˜
πŸ’ŽQualityβ˜…β˜…β˜…β˜…β˜…
πŸš€Growthβ˜…β˜…β˜…β˜…β˜…
βš–οΈValuationβ˜…β˜…β˜…β˜…β˜…
⚑Momentumβ˜…β˜…β˜…β˜…β˜…
Overall Score
Weak
42/100

Analyst Ratings

β“˜
Consensus
Buy
12 analysts
Strong Buy2
Buy6
Hold4
Sell0
Strong Sell0
Ratings as of Aug 2026

Latest News & Updates

SeekingAlphaΒ·18d ago

Mercantile Bank Corporation 2026 Q2 - Results - Earnings Call Presentation

2026-07-24. The following slide deck was published by Mercantile Bank Corporation in conjunction with their 2026 Q2 earnings call.

SeekingAlphaΒ·18d ago

Dividend Champion, Contender, And Challenger Highlights: Week Of July 26

Get the weekly dividend update for Champions, Contenders & ChallengersҀ”read about the dividend changes, upcoming ex-dividend dates and pay dates here.

SeekingAlphaΒ·19d ago

Dividend Announcements: July 11-17, 2026

CMI stands out with an Excellent quality score and a 10% dividend hike but trades at a 19% premium to fair value. Check out last week's dividend announcements here.

πŸš€
BenzingaΒ·20d ago

Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $64

Keefe, Bruyette & Woods analyst Damon Delmonte maintains Mercantile Bank (NASDAQ:MBWM) with a Outperform and raises the price target from $60 to $64.

πŸ›°οΈ
BenzingaΒ·20d ago

Hovde Group Downgrades Mercantile Bank to Market Perform, Announces $62 Price Target

Hovde Group analyst Brendan Nosal downgrades Mercantile Bank (NASDAQ:MBWM) from Outperform to Market Perform and announces $62 price target.

YahooΒ·21d ago

Mercantile Bank (MBWM) Looks Fully Valued Following Stronger 2026 Earnings

Mercantile Bank (MBWM) shares are in focus after the company reported second quarter and first half 2026 results, with higher net interest income and net income compared with the same periods last year. See our latest analysis for Mercantile Bank. The latest earnings report appears to have been well received, with Mercantile Bank’s share price up 3.50% on the day and a 30 day share price return of 11.03%. Momentum looks strong in the context of a 25.35% year to date share price return and a 5...