Mercantile Bank (MBWM) Stock Forecast, Price & News

2 Wall Street 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 research analysts is that investors should "moderate buy" MBWM shares.
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2 brokers have issued 12 month price objectives for Mercantile Bank's stock. Their MBWM share price forecasts range from $38.00 to $40.00. On average, they predict the company's share price to reach $39.00 in the next twelve months. This suggests a possible upside of 25.5% from the stock's current price.
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Mercantile Bank's stock was trading at $33.48 at the beginning of 2023. Since then, MBWM stock has decreased by 7.2% and is now trading at $31.08.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 17th 2023.
View our MBWM earnings forecast.

Mercantile Bank Co. (NASDAQ:MBWM) posted its earnings results on Tuesday, July, 18th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.16. The financial services provider earned $73.56 million during the quarter, compared to analysts' expectations of $52.43 million. Mercantile Bank had a trailing twelve-month return on equity of 17.56% and a net margin of 30.16%. During the same quarter in the previous year, the business earned $0.74 earnings per share.

Mercantile Bank declared a quarterly dividend on Thursday, July 13th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.34 per share on Wednesday, September 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, August 31st. This is a positive change from the stock's previous quarterly dividend of $0.33.
Read our dividend analysis for MBWM.

Mercantile Bank (NASDAQ:MBWM) pays an annual dividend of $1.36 per share and currently has a dividend yield of 4.33%. MBWM has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 9 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 27.42%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MBWM will have a dividend payout ratio of 34.52% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MBWM.

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.

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).

Mercantile Bank trades on the NASDAQ under the ticker symbol "MBWM."

Mercantile Bank's stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (9.01%), Dimensional Fund Advisors LP (7.26%), Renaissance Technologies LLC (3.38%), State Street Corp (2.55%), Tributary Capital Management LLC (1.97%) and Geode Capital Management LLC (1.91%). Insiders that own company stock include David B Ramaker, Lonna Wiersma, Michael H Price and Robert T Worthington.
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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.
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One share of MBWM stock can currently be purchased for approximately $31.08.

Mercantile Bank (NASDAQ:MBWM) has a market capitalization of $497.84 million and generates $218.62 million in revenue each year. The financial services provider earns $61.06 million in net income (profit) each year or $4.96 on an earnings per share basis.

The company employs 665 workers across the globe.

Mercantile Bank's mailing address is 310 LEONARD STREET NW, GRAND RAPIDS MI, 49504. The official website for the company is www.mercbank.com. The financial services provider can be reached via phone at (616) 406-3000, via email at cchristmas@mercbank.com, or via fax at 616-406-3737.