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About Mercantile Bank (NASDAQ:MBWM)
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for 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 offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner occupied real estate, non-owner occupied real estate, and multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as loans for new and used automobiles, boats, and credit cards, as well as overdraft protection services. In addition, it provides courier services and safe deposit facilities; repurchase agreements; 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, as well as operates and 49 automated teller machines. As of January 16, 2018, the company operated 49 banking offices. Mercantile Bank Corporation was founded in 1997 and is headquartered in Grand Rapids, Michigan.
Industry, Sector and Symbol
Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
SymbolNASDAQ:MBWM
CUSIP58737610
Phone616-406-3000
Debt
Debt-to-Equity Ratio0.72
Current Ratio1.03
Quick Ratio1.03
Price-To-Earnings
Trailing P/E Ratio19.14
Forward P/E Ratio14.92
P/E Growth1.82
Sales & Book Value
Annual Sales$144.54 million
Price / Sales4.21
Cash Flow$2.5557 per share
Price / Cash14.36
Book Value$22.05 per share
Price / Book1.66
Profitability
EPS (Most Recent Fiscal Year)$1.89
Net Income$31.27 million
Net Margins23.13%
Return on Equity9.50%
Return on Assets1.06%
Miscellaneous
Employees584
Outstanding Shares16,600,000
Mercantile Bank (NASDAQ:MBWM) Frequently Asked Questions
What is Mercantile Bank's stock symbol?
Mercantile Bank trades on the NASDAQ under the ticker symbol "MBWM."
How often does Mercantile Bank pay dividends? What is the dividend yield for Mercantile Bank?
Mercantile Bank declared a quarterly dividend on Tuesday, April 17th. Shareholders of record on Friday, June 8th will be given a dividend of $0.22 per share on Wednesday, June 20th. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, June 7th. View Mercantile Bank's Dividend History.
How were Mercantile Bank's earnings last quarter?
Mercantile Bank Co. (NASDAQ:MBWM) issued its quarterly earnings results on Tuesday, April, 17th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks' consensus estimate of $0.56 by $0.10. The financial services provider earned $34.58 million during the quarter, compared to analyst estimates of $33.03 million. Mercantile Bank had a net margin of 23.13% and a return on equity of 9.50%. View Mercantile Bank's Earnings History.
When is Mercantile Bank's next earnings date?
What price target have analysts set for MBWM?
4 brokerages have issued 12 month price targets for Mercantile Bank's shares. Their predictions range from $34.00 to $37.00. On average, they expect Mercantile Bank's share price to reach $35.75 in the next year. View Analyst Ratings for Mercantile Bank.
Who are some of Mercantile Bank's key competitors?
Some companies that are related to Mercantile Bank include Renasant (RNST), ServisFirst Bancshares (SFBS), TowneBank (TOWN), Hilltop (HTH), Independent Bank Gr (IBTX), Ameris Bancorp (ABCB), Eagle Bancorp (EGBN), Independent Bank (INDB), Pacific Premier Bancorp (PPBI), Banner (BANR), First BanCorp (FBP), Heartland Financial USA (HTLF), S&T Bancorp (STBA), First Busey (BUSE) and Seacoast Banking Co. of Florida (SBCF).
Who are Mercantile Bank's key executives?
Mercantile Bank's management team includes the folowing people:
- Mr. Michael H. Price, Exec. Chairman (Age 61)
- Mr. Robert B. Kaminski Jr., Pres, CEO & Director (Age 56)
- Mr. Charles E. Christmas, Exec. VP, CFO, Principal Accounting Officer & Treasurer (Age 52)
- Mr. Robert T. Worthington, Sr. VP, COO, Gen. Counsel & Sec. (Age 43)
- Mr. Raymond E. Reitsma, Pres of Mercantile Bank of Michigan & Director of Mercantile Bank of Michigan (Age 55)
Has Mercantile Bank been receiving favorable news coverage?
Media headlines about MBWM stock have been trending somewhat positive on Tuesday, according to Accern. Accern identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Mercantile Bank earned a news impact score of 0.18 on Accern's scale. They also assigned news stories about the financial services provider an impact score of 45.49 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company's share price in the near future.
Who are Mercantile Bank's major shareholders?
Mercantile Bank's stock is owned by a variety of of retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (5.98%), BlackRock Inc. (5.75%), LSV Asset Management (1.53%), Royal Bank of Canada (1.33%), Millennium Management LLC (0.78%) and Thomson Horstmann & Bryant Inc. (0.62%). Company insiders that own Mercantile Bank stock include Edward B Grant, Edward J Clark, Michael H Price and Thomas R Sullivan. View Institutional Ownership Trends for Mercantile Bank.
Which institutional investors are selling Mercantile Bank stock?
MBWM stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Federated Investors Inc. PA, California Public Employees Retirement System, JPMorgan Chase & Co., Citigroup Inc. and BNP Paribas Arbitrage SA. View Insider Buying and Selling for Mercantile Bank.
Which institutional investors are buying Mercantile Bank stock?
MBWM stock was purchased by a variety of institutional investors in the last quarter, including Dimensional Fund Advisors LP, Millennium Management LLC, Algert Global LLC, Mackay Shields LLC, Royal Bank of Canada, Thrivent Financial for Lutherans, Thomson Horstmann & Bryant Inc. and Wedge Capital Management L L P NC. View Insider Buying and Selling for Mercantile Bank.
How do I buy shares of Mercantile Bank?
Shares of MBWM can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Mercantile Bank's stock price today?
One share of MBWM stock can currently be purchased for approximately $36.65.
How big of a company is Mercantile Bank?
Mercantile Bank has a market capitalization of $595.70 million and generates $144.54 million in revenue each year. The financial services provider earns $31.27 million in net income (profit) each year or $1.89 on an earnings per share basis. Mercantile Bank employs 584 workers across the globe.
How can I contact Mercantile Bank?
Mercantile Bank's mailing address is 310 LEONARD STREET NW, GRAND RAPIDS MI, 49504. The financial services provider can be reached via phone at 616-406-3000 or via email at [email protected]
MarketBeat Community Rating for Mercantile Bank (MBWM)
MarketBeat's community ratings are surveys of what our community members think about Mercantile Bank and other stocks. Vote "Outperform" if you believe MBWM will outperform the S&P 500 over the long term. Vote "Underperform" if you believe MBWM will underperform the S&P 500 over the long term. You may vote once every thirty days.
Mercantile Bank (NASDAQ:MBWM) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
4 Wall Street analysts have issued ratings and price targets for Mercantile Bank in the last 12 months. Their average twelve-month price target is $35.75, suggesting that the stock has a possible downside of 2.59%. The high price target for MBWM is $37.00 and the low price target for MBWM is $34.00. There are currently 3 hold ratings and 1 buy rating for the stock, resulting in a consensus rating of "Hold."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Hold | Hold | Hold | Hold |
| Consensus Rating Score: | 2.25 | 2.25 | 2.00 | 2.00 |
| Ratings Breakdown: | 0 Sell Rating(s)
3 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
3 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
4 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
3 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $35.75 | $35.75 | $36.6250 | $34.50 |
| Price Target Upside: | 2.59% downside | 1.02% upside | 0.51% upside | 2.35% downside |
Mercantile Bank (NASDAQ:MBWM) Consensus Price Target History
Mercantile Bank (NASDAQ:MBWM) Analyst Ratings History
Show:
(Data available from 5/22/2016 forward)
Mercantile Bank (NASDAQ:MBWM) Dividend Information
Mercantile Bank pays an annual dividend of $0.88 per share, with a dividend yield of 2.40%. MBWM's next quarterly dividend payment will be made on Wednesday, June 20. Mercantile Bank pays out 46.56% of its earnings out as a dividend.
| Next Dividend: | 6/20/2018 |
| Annual Dividend: | $0.88 |
| Dividend Yield: | 2.40% |
| Payout Ratio(s): | 46.56% (Trailing 12 Months of Earnings)
35.77% (Based on This Year's Estimates)
33.72% (Based on Next Year's Estimates)
34.43% (Based on Cash Flow)
|
Mercantile Bank (NASDAQ:MBWM) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 4/17/2018 | Quarterly | $0.22 | 2.51% | 6/7/2018 | 6/8/2018 | 6/20/2018 |
| 1/16/2018 | Quarterly | $0.22 | 2.65% | 3/8/2018 | 3/9/2018 | 3/21/2018 |
| 10/18/2017 | quarterly | $0.19 | 2.03% | 12/7/2017 | 12/8/2017 | 12/20/2017 |
| 7/18/2017 | quarterly | $0.19 | 2.36% | 9/7/2017 | 9/8/2017 | 9/20/2017 |
| 4/18/2017 | quarterly | $0.18 | 2.16% | 6/7/2017 | 6/9/2017 | 6/21/2017 |
| 1/18/2017 | quarterly | $0.18 | 2.17% | 3/8/2017 | 3/10/2017 | 3/22/2017 |
| 10/18/2016 | quarterly | $0.17 | 2.5% | 12/7/2016 | 12/9/2016 | 12/21/2016 |
| 7/19/2016 | quarterly | $0.17 | 2.7% | 9/7/2016 | 9/9/2016 | 9/21/2016 |
| 4/21/2016 | quarterly | $0.16 | 2.63% | 6/8/2016 | 6/10/2016 | 6/23/2016 |
| 1/20/2016 | quarterly | $0.16 | 2.79% | 3/9/2016 | 3/11/2016 | 3/23/2016 |
| 10/21/2015 | quarterly | $0.15 | 2.86% | 12/9/2015 | 12/11/2015 | 12/23/2015 |
| 7/21/2015 | quarterly | $0.15 | 2.92% | 9/9/2015 | 9/11/2015 | 9/23/2015 |
| 4/21/2015 | quarterly | $0.14 | 2.71% | 6/10/2015 | 6/12/2015 | 6/24/2015 |
| 1/21/2015 | quarterly | $0.14 | 2.93% | 3/11/2015 | 3/13/2015 | 3/25/2015 |
| 10/22/2014 | quarterly | $0.12 | 2.53% | 12/10/2014 | 12/12/2014 | 12/24/2014 |
| 10/21/2014 | quarterly | $0.12 | | | 12/12/2014 | 12/24/2014 |
| 7/22/2014 | quarterly | $0.12 | 2.44% | 9/10/2014 | 9/12/2014 | 9/24/2014 |
| 7/22/2014 | quarterly | $0.12 | | | 9/12/2014 | 9/24/2014 |
| 5/12/2014 | quarterly | $0.12 | 2.17% | 6/11/2014 | 6/13/2014 | 6/25/2014 |
| 5/9/2014 | special | $2.00 | | | 5/22/2014 | 5/29/2014 |
| 5/9/2014 | quarterly | $0.12 | | | 6/13/2014 | 6/25/2014 |
| 1/22/2014 | quarterly | $0.12 | 2.18% | 2/6/2014 | 2/10/2014 | 3/10/2014 |
| 1/21/2014 | quarterly | $0.12 | | | 2/10/2014 | 3/10/2014 |
| 10/16/2013 | quarterly | $0.12 | 2.16% | 11/6/2013 | 11/8/2013 | 12/10/2013 |
| 10/15/2013 | quarterly | $0.12 | | | 11/8/2013 | 12/10/2013 |
| 7/16/2013 | quarterly | $0.12 | 2.42% | 8/7/2013 | 8/9/2013 | 9/10/2013 |
| 7/16/2013 | quarterly | $0.12 | | | 8/9/2013 | 9/10/2013 |
| 4/16/2013 | quarterly | $0.11 | 2.66% | 5/8/2013 | 5/10/2013 | 6/10/2013 |
| 1/15/2013 | quarterly | $0.10 | 2.33% | 2/6/2013 | 2/8/2013 | 3/8/2013 |
(Data available from 1/1/2013 forward)
Mercantile Bank (NASDAQ MBWM) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 3.20%
Institutional Ownership Percentage: 53.44%
Mercantile Bank (NASDAQ MBWM) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 3/2/2018 | Thomas R Sullivan | Director | Sell | 6,930 | $34.28 | $237,560.40 | 20,143 |  |
| 11/20/2017 | Thomas R Sullivan | Director | Sell | 5,200 | $35.15 | $182,780.00 | 15,073 | |
| 10/27/2017 | Thomas R Sullivan | Director | Sell | 5,800 | $37.29 | $216,282.00 | 20,273 | |
| 10/20/2017 | Thomas R Sullivan | Director | Sell | 10,739 | $37.04 | $397,772.56 | 20,273 | |
| 7/21/2017 | Edward J Clark | Director | Buy | 385 | $31.59 | $12,162.15 | 48,137 | |
| 6/14/2017 | Thomas R Sullivan | Director | Sell | 7,113 | $33.75 | $240,063.75 | 19,523 | |
| 6/13/2017 | Thomas R Sullivan | Director | Sell | 2,797 | $33.24 | $92,972.28 | 19,523 | |
| 6/12/2017 | Thomas R Sullivan | Director | Sell | 3,801 | $34.23 | $130,108.23 | 19,523 | |
| 4/25/2017 | Michael H Price | Chairman | Sell | 9,535 | $35.04 | $334,106.40 | 46,726 | |
| 3/2/2017 | Thomas R Sullivan | Director | Sell | 7,000 | $33.38 | $233,660.00 | 26,523 | |
| 12/12/2016 | Michael H Price | Chairman | Sell | 9,551 | $35.18 | $336,004.18 | 56,261 | |
| 11/30/2016 | Edward B Grant | Director | Sell | 2,000 | $32.92 | $65,840.00 | 18,987 | |
| 8/26/2016 | Thomas R Sullivan | Director | Sell | 5,000 | $26.87 | $134,350.00 | 24,523 | |
| 8/19/2016 | Michael H Price | Chairman | Sell | 13,362 | $25.81 | $344,873.22 | 59,712 | |
| 7/28/2016 | Michael H. Price | Chairman | Sell | 11,520 | $24.99 | $287,884.80 | | |
| 3/4/2016 | Thomas R Sullivan | Director | Sell | 560 | $24.00 | $13,440.00 | 23,773 | |
| 2/19/2016 | Jeff A Gardner | Director | Sell | 3,999 | $22.63 | $90,497.37 | 13,790 | |
| 1/22/2016 | Michael H Price | CEO | Sell | 8,000 | $21.16 | $169,280.00 | 82,977 | |
| 12/15/2015 | Thomas R Sullivan | Director | Sell | 3,000 | $24.20 | $72,600.00 | 23,773 | |
| 11/24/2015 | Samuel G Stone | EVP | Sell | 1,378 | $25.10 | $34,587.80 | 6,976 | |
| 11/19/2015 | Thomas R. Sullivan | Director | Sell | 1,653 | $25.14 | $41,556.42 | 23,773 | |
| 11/16/2015 | Thomas R Sullivan | Director | Sell | 3,000 | $24.00 | $72,000.00 | 22,688 | |
| 10/23/2015 | Thomas R Sullivan | Director | Sell | 3,000 | $21.50 | $64,500.00 | 22,688 | |
| 9/24/2015 | Thomas R Sullivan | Director | Sell | 3,000 | $21.00 | $63,000.00 | 22,688 | |
| 8/17/2015 | Thomas R Sullivan | Chairman | Sell | 3,000 | $20.37 | $61,110.00 | | |
| 4/27/2015 | Edward B Grant | Director | Sell | 2,247 | $20.44 | $45,928.68 | | |
| 7/29/2014 | Robert B Kaminski | COO | Sell | 3,000 | $19.43 | $58,290.00 | | |
(Data available from 1/1/2013 forward)
Mercantile Bank (NASDAQ MBWM) News Headlines
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Mercantile Bank (NASDAQ:MBWM) SEC Filings
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Mercantile Bank (NASDAQ:MBWM) Income Statement, Balance Sheet and Cash Flow Statement
Mercantile Bank (NASDAQ MBWM) Stock Chart for Tuesday, May, 22, 2018
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