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NASDAQ:MBWM

Mercantile Bank (MBWM) Stock Price, News & Analysis

$37.43
+0.14 (+0.38%)
(As of 05:17 PM ET)
Today's Range
$36.90
$37.71
50-Day Range
$36.34
$42.10
52-Week Range
$23.89
$42.82
Volume
48,313 shs
Average Volume
79,835 shs
Market Capitalization
$599.63 million
P/E Ratio
7.30
Dividend Yield
3.63%
Price Target
$40.00

Mercantile Bank MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
7.4% Upside
$40.00 Price Target
Short Interest
Healthy
0.89% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.20mentions of Mercantile Bank in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-3.74%
From $4.55 to $4.38 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.43 out of 5 stars

Finance Sector

602nd out of 858 stocks

State Commercial Banks Industry

151st out of 181 stocks


MBWM stock logo

About Mercantile Bank Stock (NASDAQ:MBWM)

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company 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; and 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. In addition, it offers courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. The company was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

MBWM Stock Price History

MBWM Stock News Headlines

Mercantile Bank Corp.
US banks adopt radical new technology (growing 24,290%)
A century and a half ago, Western Union launched the first electronic wire transfers&... and became one of the first stock market giants in American history. Now, major US banks are adopting a similarly new and powerful technology.
Q4 2023 Mercantile Bank Corp Earnings Call
US banks adopt radical new technology (growing 24,290%)
A century and a half ago, Western Union launched the first electronic wire transfers&... and became one of the first stock market giants in American history. Now, major US banks are adopting a similarly new and powerful technology.
Here's what Wall Street expects from Mercantile Bank's earnings report
Mercantile Bank Corp MBWM
Q3 2023 Mercantile Bank Corp Earnings Call
Mercantile Bank: Market Reacts Well To Q3 2023 Earnings
See More Headlines
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Company Calendar

Ex-Dividend for 12/13 Dividend
11/30/2023
Dividend Payable
12/13/2023
Last Earnings
1/16/2024
Today
2/23/2024
Ex-Dividend for 3/13 Dividend
2/29/2024
Dividend Payable
3/13/2024
Next Earnings (Estimated)
4/16/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
Regional Banks
Current Symbol
NASDAQ:MBWM
CUSIP
58737610
Employees
651
Year Founded
1997

Price Target and Rating

Average Stock Price Target
$40.00
High Stock Price Target
$40.00
Low Stock Price Target
$40.00
Potential Upside/Downside
+7.3%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
2 Analysts

Profitability

Net Income
$82.22 million
Pretax Margin
36.30%

Debt

Sales & Book Value

Annual Sales
$303.50 million
Cash Flow
$4.58 per share
Book Value
$27.82 per share

Miscellaneous

Free Float
15,539,000
Market Cap
$597.39 million
Optionable
Optionable
Beta
1.00

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Key Executives

  • Mr. Robert B. Kaminski Jr. (Age 62)
    President, CEO & Director
    Comp: $1.06M
  • Mr. Charles E. Christmas (Age 58)
    Executive VP, CFO & Treasurer
    Comp: $589.46k
  • Mr. Raymond E. Reitsma (Age 61)
    Executive VP & Director
    Comp: $719.9k
  • Mr. Scott P. Setlock
    Executive VP, COO & Secretary
  • Mr. Brett E. Hoover (Age 53)
    Executive VP & Chief Human Resource Officer
  • Mr. Mark S. Augustyn
    Chief Commercial Banking Officer of Mercantile Bank
  • Mr. Jeff Kaiser
    Senior VP & Head of Risk Management Department














MBWM Stock Analysis - Frequently Asked Questions

Should I buy or sell Mercantile Bank stock right now?

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Mercantile Bank in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MBWM shares.
View MBWM analyst ratings
or view top-rated stocks.

What is Mercantile Bank's stock price target for 2024?

2 Wall Street research analysts have issued 12-month price objectives for Mercantile Bank's shares. Their MBWM share price targets range from $40.00 to $40.00. On average, they expect the company's stock price to reach $40.00 in the next year. This suggests a possible upside of 7.4% from the stock's current price.
View analysts price targets for MBWM
or view top-rated stocks among Wall Street analysts.

How have MBWM shares performed in 2024?

Mercantile Bank's stock was trading at $40.38 at the beginning of 2024. Since then, MBWM stock has decreased by 7.8% and is now trading at $37.25.
View the best growth stocks for 2024 here
.

Are investors shorting Mercantile Bank?

Mercantile Bank saw a increase in short interest in the month of January. As of January 31st, there was short interest totaling 137,800 shares, an increase of 20.1% from the January 15th total of 114,700 shares. Based on an average daily volume of 61,500 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.9% of the shares of the company are sold short.
View Mercantile Bank's Short Interest
.

When is Mercantile Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 16th 2024.
View our MBWM earnings forecast
.

How were Mercantile Bank's earnings last quarter?

Mercantile Bank Co. (NASDAQ:MBWM) announced its quarterly earnings data on Tuesday, January, 16th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.03. The financial services provider earned $56.95 million during the quarter, compared to the consensus estimate of $56 million. Mercantile Bank had a trailing twelve-month return on equity of 17.26% and a net margin of 27.09%. During the same quarter in the previous year, the firm earned $1.37 earnings per share.

How often does Mercantile Bank pay dividends? What is the dividend yield for Mercantile Bank?

Mercantile Bank announced a quarterly dividend on Thursday, January 11th. Investors of record on Friday, March 1st will be paid a dividend of $0.35 per share on Wednesday, March 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, February 29th. This is an increase from the stock's previous quarterly dividend of $0.34.
Read our dividend analysis for MBWM
.

Is Mercantile Bank a good dividend stock?

Mercantile Bank (NASDAQ:MBWM) pays an annual dividend of $1.36 per share and currently has a dividend yield of 3.58%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 26.51%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MBWM will have a dividend payout ratio of 31.05% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MBWM.

What is Bob Kaminski's approval rating as Mercantile Bank's CEO?

1 employees have rated Mercantile Bank Chief Executive Officer Bob Kaminski on Glassdoor.com. Bob Kaminski has an approval rating of 100% among the company's employees. This puts Bob Kaminski in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Mercantile Bank own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Mercantile Bank investors own include Macatawa Bank (MCBC), Exxon Mobil (XOM), JPMorgan Chase & Co. (JPM), AbbVie (ABBV), Alibaba Group (BABA), International Business Machines (IBM), Invesco (IVZ), Marathon Petroleum (MPC), ONEOK (OKE) and Wells Fargo & Company (WFC).

Who are Mercantile Bank's major shareholders?

Mercantile Bank's stock is owned by many different institutional and retail investors. Top institutional investors include Dimensional Fund Advisors LP (7.19%), Vanguard Group Inc. (4.89%), Banc Funds Co. LLC (2.94%), North Star Asset Management Inc. (2.26%), Tributary Capital Management LLC (1.96%) and Charles Schwab Investment Management Inc. (1.24%). Insiders that own company stock include David B Ramaker, Lonna Wiersma, Michael H Price and Robert T Worthington.
View institutional ownership trends
.

How do I buy shares of Mercantile Bank?

Shares of MBWM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:MBWM) was last updated on 2/23/2024 by MarketBeat.com Staff