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 "buy" MBWM shares.
View MBWM analyst ratings or view top-rated stocks.

2 Wall Street analysts have issued 12 month target prices for Mercantile Bank's shares. Their MBWM share price forecasts range from $33.00 to $41.00. On average, they anticipate the company's stock price to reach $37.33 in the next twelve months. This suggests a possible upside of 11.6% from the stock's current price.
View analysts price targets for MBWM or view top-rated stocks among Wall Street analysts.

Mercantile Bank's stock was trading at $33.48 on January 1st, 2023. Since then, MBWM stock has decreased by 0.1% and is now trading at $33.46.
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Mercantile Bank saw a decline in short interest during the month of January. As of January 15th, there was short interest totaling 126,600 shares, a decline of 7.4% from the December 31st total of 136,700 shares. Based on an average daily volume of 33,400 shares, the short-interest ratio is presently 3.8 days. Approximately 0.9% of the company's shares are sold short.
View Mercantile Bank's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 18th 2023.
View our MBWM earnings forecast.

Mercantile Bank Co. (NASDAQ:MBWM) announced its quarterly earnings results on Tuesday, January, 17th. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.19 by $0.18. The financial services provider had revenue of $58.46 million for the quarter, compared to analysts' expectations of $53.70 million. Mercantile Bank had a net margin of 28.55% and a trailing twelve-month return on equity of 14.29%.

Mercantile Bank declared a quarterly dividend on Thursday, January 12th. Stockholders of record on Friday, March 3rd will be given a dividend of $0.33 per share on Wednesday, March 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, March 2nd. This is an increase from the stock's previous quarterly dividend of $0.32.
Read our dividend analysis for MBWM.

Mercantile Bank (NASDAQ:MBWM) pays an annual dividend of $1.28 per share and currently has a dividend yield of 3.83%. 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 33.25%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MBWM will have a dividend payout ratio of 30.70% 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 institutional and retail investors. Top institutional investors include Tributary Capital Management LLC (1.95%), jvl associates llc (0.34%), Assenagon Asset Management S.A. (0.23%), Strs Ohio (0.12%), Hennion & Walsh Asset Management Inc. (0.07%) and Well Done LLC (0.04%). Insiders that own company stock include David B Ramaker, Lonna Wiersma, Michael H Price and Robert T Worthington.
View institutional ownership trends.

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 $33.46.

Mercantile Bank (NASDAQ:MBWM) has a market capitalization of $531.01 million and generates $213.92 million in revenue each year. The financial services provider earns $61.06 million in net income (profit) each year or $3.85 on an earnings per share basis.

The company employs 630 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.