Mercantile Bank - MBWM Stock Forecast, Price & News

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Mercantile Bank in the last year. There are currently 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "strong buy" MBWM shares.
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2 brokerages have issued 12-month target prices for Mercantile Bank's shares. Their MBWM share price forecasts range from $41.00 to $44.00. On average, they anticipate the company's share price to reach $42.50 in the next year. This suggests a possible upside of 20.4% from the stock's current price.
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Mercantile Bank's stock was trading at $35.03 at the beginning of 2022. Since then, MBWM shares have increased by 0.8% and is now trading at $35.31.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 18th 2022.
View our MBWM earnings forecast.

Mercantile Bank Co. (NASDAQ:MBWM) released its earnings results on Tuesday, July, 19th. The financial services provider reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The financial services provider earned $42.07 million during the quarter, compared to analysts' expectations of $42.37 million. Mercantile Bank had a trailing twelve-month return on equity of 11.85% and a net margin of 25.79%. During the same quarter in the prior year, the business posted $1.12 earnings per share.

Mercantile Bank announced a quarterly dividend on Wednesday, July 20th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.32 per share on Wednesday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, September 1st. This is an increase from the stock's previous quarterly dividend of $0.31.
Read our dividend analysis for MBWM.

Mercantile Bank (NASDAQ:MBWM) pays an annual dividend of $1.24 per share and currently has a dividend yield of 3.59%. The company has been increasing its dividend for 8 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 39.24%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MBWM will have a dividend payout ratio of 29.18% 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 (2.05%), North Star Asset Management Inc. (1.84%), jvl associates llc (0.43%), Victory Capital Management Inc. (0.24%), Envestnet Asset Management Inc. (0.20%) and Assenagon Asset Management S.A. (0.20%). Insiders that own company stock include 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 $35.31.

Mercantile Bank (NASDAQ:MBWM) has a market capitalization of $559.42 million and generates $199.71 million in revenue each year. The financial services provider earns $59.02 million in net income (profit) each year or $3.16 on an earnings per share basis.

The company employs 630 workers across the globe.

Mercantile Bank was founded in 1997.

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.