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Mercantile Bank - MBWM Stock Forecast, Price & News

$35.72
-0.89 (-2.43%)
(As of 08/19/2022 11:52 AM ET)
Add
Compare
Today's Range
$35.72
$36.68
50-Day Range
$30.86
$36.61
52-Week Range
$29.10
$40.01
Volume
44 shs
Average Volume
26,485 shs
Market Capitalization
$566.52 million
P/E Ratio
11.30
Dividend Yield
3.41%
Price Target
$42.50

Mercantile Bank MarketRank™ Forecast

Analyst Rating
Strong Buy
3.50 Rating Score
Upside/​Downside
16.1% Upside
$42.50 Price Target
Short Interest
Bearish
1.29% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
19.05%
From $3.57 to $4.25 Per Share

Overall MarketRank

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

2.66 out of 5 stars

Finance Sector

245th out of 914 stocks

State Commercial Banks Industry

44th out of 192 stocks

MBWM stock logo

About Mercantile Bank (NASDAQ:MBWM) Stock

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 offers 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 provides 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, as well as owns 22 automated teller machines and 19 video banking machines. As of January 18, 2022, the company operated 44 banking offices. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

Mercantile Bank Trading Up 0.7 %

Shares of MBWM Stock opened at $36.61 on Friday. The firm's 50 day moving average price is $33.29 and its two-hundred day moving average price is $34.23. Mercantile Bank has a fifty-two week low of $29.10 and a fifty-two week high of $40.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.16. The stock has a market cap of $580.67 million, a price-to-earnings ratio of 11.59 and a beta of 0.97.

Mercantile Bank (NASDAQ:MBWM - Get Rating) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. The firm had revenue of $42.07 million for the quarter, compared to analyst estimates of $42.37 million. Mercantile Bank had a net margin of 25.79% and a return on equity of 11.98%. During the same quarter in the previous year, the business posted $1.12 EPS. On average, analysts anticipate that Mercantile Bank will post 3.57 EPS for the current year.

Mercantile Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 1st. This is an increase from Mercantile Bank's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 3.50%. Mercantile Bank's dividend payout ratio (DPR) is currently 39.24%.

Analyst Ratings Changes

Separately, Hovde Group raised shares of Mercantile Bank from a "market perform" rating to an "outperform" rating and set a $41.00 price target on the stock in a research report on Thursday, July 28th.

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MBWM Stock News Headlines

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Mercantile Bank passes these three dividend tests
Mercantile Bank (MBWM) Surpasses Q1 Earnings Estimates
Mercantile Bank declares $0.31 dividend
Here's what to expect from Mercantile Bank's earnings
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See More Headlines
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MBWM Company Calendar

Ex-Dividend for 6/15 Dividend
6/02/2022
Dividend Payable
6/15/2022
Last Earnings
7/19/2022
Today
8/19/2022
Ex-Dividend for 9/14 Dividend
9/01/2022
Dividend Payable
9/14/2022
Next Earnings (Estimated)
10/18/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
Regional Banks
Sector
Finance
Current Symbol
NASDAQ:MBWM
CUSIP
58737610
Employees
630
Year Founded
1997

Price Target and Rating

Average Stock Price Forecast
$42.50
High Stock Price Forecast
$44.00
Low Stock Price Forecast
$41.00
Forecasted Upside/Downside
+19.0%
Consensus Rating
Strong Buy
Rating Score (0-4)
3.50
Research Coverage
2 Analysts

Profitability

Net Income
$59.02 million
Pretax Margin
32.41%

Debt

Sales & Book Value

Annual Sales
$199.71 million
Cash Flow
$4.76 per share
Book Value
$27.05 per share

Miscellaneous

Free Float
15,284,000
Market Cap
$566.52 million
Optionable
Optionable
Beta
0.97

Social Links


Key Executives

  • Mr. Robert B. Kaminski Jr. (Age 60)
    Pres, CEO & Director
    Comp: $860.15k
  • Mr. Charles E. Christmas (Age 56)
    Exec. VP, CFO & Treasurer
    Comp: $571.68k
  • Mr. Raymond E. Reitsma (Age 59)
    Exec. VP & COO
    Comp: $650.26k
  • Mr. Robert T. WorthingtonMr. Robert T. Worthington (Age 47)
    Sr. VP, Chief Risk Officer, Gen. Counsel & Sec.
    Comp: $356.33k
  • Mr. Brett Hoover (Age 51)
    Human Resource Director & Sr. VP
  • Mr. Mark S. Augustyn
    Sr. VP & Chief Lending Officer of Mercantile Bank of Michigan
  • Mr. Jeff Kaiser
    Sr. VP & Head of Risk Management Department













MBWM Stock - 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 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "strong buy" MBWM shares.
View MBWM analyst ratings
or view top-rated stocks.

What is Mercantile Bank's stock price forecast for 2022?

2 brokers have issued twelve-month price targets for Mercantile Bank's stock. Their MBWM share price forecasts range from $41.00 to $44.00. On average, they expect the company's share price to reach $42.50 in the next year. This suggests a possible upside of 16.1% 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 2022?

Mercantile Bank's stock was trading at $35.03 at the start of the year. Since then, MBWM shares have increased by 4.5% and is now trading at $36.61.
View the best growth stocks for 2022 here
.

When is Mercantile Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 18th 2022.
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, July, 19th. The financial services provider reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The financial services provider earned $42.07 million during the quarter, compared to the consensus estimate of $42.37 million. Mercantile Bank had a trailing twelve-month return on equity of 11.98% and a net margin of 25.79%. During the same period in the prior year, the firm posted $1.12 earnings per share.

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

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 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, September 1st. This is a positive change from the stock's previous quarterly dividend of $0.31.
Read our dividend analysis for MBWM
.

Is Mercantile Bank a good dividend stock?

Mercantile Bank (NASDAQ:MBWM) pays an annual dividend of $1.24 per share and currently has a dividend yield of 3.41%. 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.

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).

What is Mercantile Bank's stock symbol?

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

Who are Mercantile Bank's major shareholders?

Mercantile Bank's stock is owned by many different retail and institutional investors. Top institutional investors include Renaissance Technologies LLC (4.14%), State Street Corp (2.48%), Tributary Capital Management LLC (2.05%), North Star Asset Management Inc. (1.84%), Northern Trust Corp (1.19%) and jvl associates llc (0.43%). Insiders that own company stock include 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.

What is Mercantile Bank's stock price today?

One share of MBWM stock can currently be purchased for approximately $36.61.

How much money does Mercantile Bank make?

Mercantile Bank (NASDAQ:MBWM) has a market capitalization of $580.63 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.

How many employees does Mercantile Bank have?

The company employs 630 workers across the globe.

When was Mercantile Bank founded?

Mercantile Bank was founded in 1997.

How can I contact Mercantile Bank?

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.

This page (NASDAQ:MBWM) was last updated on 8/19/2022 by MarketBeat.com Staff

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