MBWM

Mercantile Bank Corp

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Advanced Chart

45.810

-0.510(-1.100%)

Overview
Forecast
Valuation

Line

Candle

YTD

High

46.270

Open

46.270

VWAP

45.98

Vol

40.73K

Mkt Cap

743.73M

Low

45.680

Amount

1.87M

EV/EBITDA(TTM)

13.43

Total Shares

16.12M

1.42B

EV/OCF(TTM)

1.94

P/S(TTM)

3.57

Mercantile Bank Corporation is the bank holding company for Mercantile Bank. Its bank is a state banking company. It provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. Its operations are centered around the West and Central portions of Michigan. It makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. It also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. Its insurance product offerings include private passenger automobiles, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella policies, small businesses, and life insurance products. It offers a range of loans, such as home equity loans, personal loans, overdraft protection, and student loans.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

60.59M

+3.52%

1.208

-1.02%

61.12M

+5.45%

1.252

+2.66%

60.02M

+5.76%

1.255

+7.26%

Estimates Revision

The market is revising Upward the revenue expectations for Mercantile Bank Corporation (MBWM) for FY2025, with the revenue forecasts being adjusted by 0.89% over the past three months. During the same period, the stock price has changed by -6.61%.

Revenue Estimates for FY2025

Revise Upward

+0.89%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+1.92%

In Past 3 Month

Stock Price

Go Down

-6.61%

In Past 3 Month

2 Analyst Rating

9.69% Upside

Wall Street analysts forecast MBWM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MBWM is 50.25 USD with a low forecast of 47.50 USD and a high forecast of 53.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Buy

1 Hold

0 Sell

Moderate Buy

9.69% Upside

Current: 45.810

Low

47.50

Averages

50.25

High

53.00

9.69% Upside

Current: 45.810

Low

47.50

Averages

50.25

High

53.00

Piper Sandler

Brandan Nosal

Hold

Maintains

$50 → $48

2025-04-23

Reason

Piper Sandler

Brandan Nosal

Price Target

$50 → $48

2025-04-23

Maintains

Hold

Reason

Piper Sandler lowered the firm's price target on Mercantile Bank to $47.50 from $50 and keeps a Neutral rating on the shares. The firm considers this another strong quarter from Mercantile Bank given 2% PPNR upside driven by solid net interest margin expansion and very well-managed operating expenses. Piper continues to believe Mercantile Bank's more benign credit and superior profitability profiles warrant a moderate premium relative to peers and despite its asset sensitive balance sheet.

Keefe, Bruyette & Woods

Damon Delmonte

Buy

Maintains

$56 → $57

2025-01-22

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$56 → $57

2025-01-22

Maintains

Buy

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Buy

Maintains

$50 → $56

2024-12-04

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$50 → $56

2024-12-04

Maintains

Buy

Reason

Piper Sandler

Brandan Nosal

Hold

Maintains

$42 → $53

2024-07-17

Reason

Piper Sandler

Brandan Nosal

Price Target

$42 → $53

2024-07-17

Maintains

Hold

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Buy

Reiterates

$47 → $51

2024-07-17

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$47 → $51

2024-07-17

Reiterates

Buy

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for Mercantile Bank Corp (MBWM.O) is 9.45, compared to its 5-year average forward P/E of 9.28. For a more detailed relative valuation and DCF analysis to assess Mercantile Bank Corp 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

9.28

Current PE

9.45

Overvalued PE

11.30

Undervalued PE

7.26

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

0.00

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

0.00

Undervalued EV/EBITDA

0.00

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

2.74

Current PS

3.06

Overvalued PS

3.11

Undervalued PS

2.37