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Mercantile Bank Stock Price, News & Analysis (NASDAQ:MBWM)

$36.75
+0.51 (+1.41%)
(As of 11:13 AM ET)
Compare
Today's Range
$35.65
$36.75
50-Day Range
$30.35
$36.70
52-Week Range
$23.89
$37.07
Volume
5,955 shs
Average Volume
38,563 shs
Market Capitalization
$588.74 million
P/E Ratio
7.00
Dividend Yield
3.70%
Price Target
$40.00

Mercantile Bank MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
10.4% Upside
$40.00 Price Target
Short Interest
Healthy
0.78% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.62mentions of Mercantile Bank in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-16.05%
From $5.11 to $4.29 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.29 out of 5 stars

Financial Services Sector

16th out of 39 stocks

Banks - Regional Industry

11th out of 19 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

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Q3 2023 Mercantile Bank Corp Earnings Call
Mercantile Bank: Market Reacts Well To Q3 2023 Earnings
Is This The Most Overlooked Gold Investment Strategy of 2024?
There is little debate on the potential of gold in the next year and decade. The real issue becomes - what's the best gold investment strategy today? Some investors are opting for a unique "royalty" alternative that outshines other options like holding gold bullion or investing in volatile mining stocks.
Best Income Stocks to Buy for August 14
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Why Mercantile Bank Stock Rose 16.4% This Week
Q2 2023 Mercantile Bank Corp Earnings Call
Mercantile Bank raises dividend by 3% to $0.34
Mercantile Bank Q2 Profit Advances, Beats estimates
See More Headlines
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Company Calendar

Ex-Dividend for 9/13 Dividend
8/31/2023
Dividend Payable
9/13/2023
Last Earnings
10/17/2023
Ex-Dividend for 12/13 Dividend
11/30/2023
Today
12/04/2023
Dividend Payable
12/13/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
1/16/2024

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
Regional Banks
Sector
Finance
Current Symbol
NASDAQ:MBWM
CUSIP
58737610
Employees
643
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
+10.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
2 Analysts

Profitability

Net Income
$61.06 million
Pretax Margin
36.30%

Debt

Sales & Book Value

Annual Sales
$227.15 million
Cash Flow
$4.66 per share
Book Value
$30.15 per share

Miscellaneous

Free Float
15,539,000
Market Cap
$580.75 million
Optionable
Optionable
Beta
1.01

Social Links

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Key Executives

  • Mr. Robert B. Kaminski Jr. (Age 61)
    President, CEO & Director
    Comp: $1.06M
  • Mr. Charles E. Christmas (Age 57)
    Executive VP, CFO & Treasurer
    Comp: $589.46k
  • Mr. Raymond E. Reitsma (Age 60)
    Executive VP, COO & Director
    Comp: $719.9k
  • Mr. Robert T. WorthingtonMr. Robert T. Worthington (Age 48)
    Senior VP, Chief Risk Officer, General Counsel & Secretary
    Comp: $339.64k
  • Mr. Brett E. Hoover (Age 52)
    Senior VP & Human Resources Director
  • Mr. Mark S. Augustyn
    Senior VP & Chief Lending Officer of Mercantile Bank of Michigan
  • 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 equities research analysts have issued "buy," "hold," and "sell" ratings for Mercantile Bank in the last year. There are currently 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate 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 1-year target prices for Mercantile Bank's stock. Their MBWM share price targets range from $40.00 to $40.00. On average, they predict the company's stock price to reach $40.00 in the next twelve months. This suggests a possible upside of 10.4% 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 2023?

Mercantile Bank's stock was trading at $33.48 on January 1st, 2023. Since then, MBWM shares have increased by 8.2% and is now trading at $36.24.
View the best growth stocks for 2023 here
.

When is Mercantile Bank's next earnings date?

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

How were Mercantile Bank's earnings last quarter?

Mercantile Bank Co. (NASDAQ:MBWM) announced its quarterly earnings results on Tuesday, October, 17th. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The financial services provider had revenue of $58.21 million for the quarter, compared to analysts' expectations of $53.73 million. Mercantile Bank had a net margin of 29.22% and a trailing twelve-month return on equity of 17.96%.

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

Mercantile Bank declared a quarterly dividend on Thursday, October 12th. Shareholders of record on Friday, December 1st will be given a dividend of $0.34 per share on Wednesday, December 13th. This represents a $1.36 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, November 30th.
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 3.75%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 25.90%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MBWM will have a dividend payout ratio of 31.70% 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 a number of retail and institutional investors. Top institutional investors include North Star Asset Management Inc. (2.25%), Tributary Capital Management LLC (1.99%), Charles Schwab Investment Management Inc. (1.22%), Northern Trust Corp (1.18%), American Century Companies Inc. (1.03%) and Bank of New York Mellon Corp (0.78%). 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:MBWM) was last updated on 12/4/2023 by MarketBeat.com Staff

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