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MBWM Overview

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$
0.000
0.000(0.000%)
At close
0.000(0.000%)Aft-market
ET
$
0.000
0.000(0.000%)
At close
0.000(0.000%)Aft-market
ET
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Intellectia

Loading chart...

High
55.000
Open
53.800
VWAP
52.55
Vol
105.71K
Mkt Cap
888.42M
Low
51.230
Amount
5.55M
EV/EBITDA(TTM)
13.72
Total Shares
17.27M
EV
1.54B
EV/OCF(TTM)
11.92
P/S(TTM)
4.00
Mercantile Bank Corporation is the bank holding company for Mercantile Bank and Eastern Michigan Bank. Mercantile Bank and Eastern Michigan Bank provide financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units. Eastern Michigan Bank operates over 12 branches across three counties, offering a full range of personal and business banking services. Eastern Michigan Bank’s personal services include personal checking, personal savings, youth and young adults, CDs and IRAs, online and mobile banking, 24-hour telephone banking, debit cards, personal credit cards, additional services, and Zelle. Eastern Michigan Bank’s loans include vehicle and personal loans, home equity loans and lines, student loans (opens in a new window), business loans, and agricultural loans. Eastern Michigan Bank’s business services include business checking, business savings, business credit cards, and others.
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Events Timeline

(ET)
2026-04-21
06:30:00
Q1 Revenue of $67.6M Exceeds Expectations, Net Interest Margin Rises to 3.55%
select
2026-01-20 (ET)
2026-01-20
05:40:00
Mercantile Reports Q4 Revenue of $62.1M, Beating Expectations
select
2026-01-20
05:10:00
Mercantile Bank Declares $0.39 Dividend Per Share
select
2025-12-16 (ET)
2025-12-16
18:30:00
Mercantile Bank and Eastern Michigan Financial Merger Approved by Federal Reserve
select

News

Newsfilter
9.5
04-21Newsfilter
PinnedMercantile Bank Reports Q1 2026 Net Income Growth
  • Net Income Growth: Mercantile Bank reported a net income of $22.7 million for Q1 2026, translating to $1.32 per diluted share, reflecting a 16.4% increase from $19.5 million in the same quarter last year, demonstrating the bank's robust financial performance amid economic uncertainty.
  • Interest Income Boost: The bank's net interest income reached $55.9 million in Q1 2026, up 15.1% year-over-year, primarily driven by growth in earning assets and a reduction in interest costs, which further enhances profitability and competitive positioning.
  • Significant Non-Interest Income Increase: Non-interest income surged to $11.7 million, a 34.3% increase, with treasury management fees and mortgage banking income rising approximately 26% and 12%, respectively, reflecting successful strategies in customer acquisition and service diversification.
  • Strong Asset Quality: As of March 31, 2026, nonperforming assets totaled $7.5 million, or 0.1% of total assets, indicating effective credit management and risk control, which bolsters investor confidence in the bank's stability.
seekingalpha
9.5
04-21seekingalpha
Mercantile Bank Q1 2026 Earnings Highlights
  • Earnings Growth: In Q1 2026, Mercantile Bank reported net income of $22.7 million or $1.32 per diluted share, with adjusted net income rising to $25.2 million or $1.46 per diluted share, indicating enhanced profitability following the acquisition of Eastern Michigan Bank.
  • Loan-to-Deposit Ratio: As of March 31, 2026, the loan-to-deposit ratio stood at 89%, down from 91% on December 31, 2025, reflecting the company's strategic execution in deposit growth and liquidity management.
  • Stable Margin: Over the last five quarters, the SOFR 90-day average rate dropped by 67 basis points, while Mercantile Bank's margin increased by 8 basis points to 3.55%, demonstrating effective execution in matching funding of assets and liabilities.
  • Outlook: Management projects loan growth to remain in the range of 5% to 7% annualized per quarter for 2026, with the second quarter's net interest margin expected to be similar to the first quarter, indicating cautious optimism about future market conditions.
seekingalpha
8.0
04-21seekingalpha
Mercantile Bank Declares Quarterly Dividend of $0.39
  • Quarterly Dividend Announcement: Mercantile Bank declares a quarterly dividend of $0.39 per share, consistent with previous distributions, indicating stable cash flow and profitability, which is likely to attract more investor interest.
  • Yield Performance: The forward yield of 2.93% is competitive in the current market environment, potentially enhancing shareholder confidence and increasing the attractiveness of the company's stock.
  • Shareholder Record Dates: The dividend will be payable on June 17, with a record date of June 5 and an ex-dividend date also on June 5, ensuring shareholders receive their dividends promptly, thereby strengthening the shareholder base.
  • Financial Performance Beats Expectations: Mercantile Bank reported a non-GAAP EPS of $1.46, beating expectations by $0.15, with revenue of $67.6M exceeding forecasts by $0.19M, showcasing the company's excellence in credit management and margin expansion.
NASDAQ.COM
9.5
04-21NASDAQ.COM
Mercantile Bank Reports Q1 Net Income Growth
  • Net Income Growth: Mercantile Bank's net income for Q1 reached $22.69 million, up 16.1% from $19.54 million last year, indicating sustained profitability and enhancing investor confidence.
  • Earnings Per Share Increase: EPS rose from $1.21 to $1.32, a 9.1% increase, reflecting effective strategies in cost control and revenue enhancement, further solidifying the bank's market position.
  • Interest Income Rise: Net interest income increased by 14.9% from $48.55 million to $55.90 million, primarily driven by growth in loans and deposits, showcasing the bank's strong performance in the lending market.
  • Loan and Deposit Growth: Total loans grew from $4.58 billion to $4.76 billion, while deposits surged from $4.68 billion to $5.42 billion, demonstrating increased customer trust and an expanded market share.
seekingalpha
9.5
04-21seekingalpha
Mercantile Bank Q1 Earnings Exceed Expectations
  • Earnings Beat: Mercantile Bank reported a Q1 non-GAAP EPS of $1.46, surpassing expectations by $0.15, indicating strong profitability and boosting investor confidence in the bank's performance.
  • Significant Revenue Growth: The bank's revenue reached $67.6 million in Q1, reflecting an 18.1% year-over-year increase and exceeding expectations by $190,000, showcasing its competitive strength and business expansion capabilities.
  • Robust Net Income: The reported GAAP net income was $22.7 million, or $1.32 per diluted share, demonstrating effective cost control and revenue enhancement strategies that strengthen the bank's financial stability.
  • Improved Return Ratios: The return on average assets stood at 1.4% and return on average equity at 12.5%, with non-GAAP figures of 1.5% and 14.0%, respectively, indicating ongoing improvements in capital efficiency and profitability.
NASDAQ.COM
9.5
04-21NASDAQ.COM
Mercantile Bank Reports Increased Q1 Earnings
  • Earnings Growth: Mercantile Bank reported first-quarter earnings of $22.69 million, translating to $1.32 per share, which marks a significant increase from last year's $19.54 million and $1.21 per share, indicating improved profitability.
  • Revenue Increase: The company's revenue rose by 15.1% to $55.90 million compared to $48.55 million last year, demonstrating enhanced competitiveness in the market.
  • Financial Performance: The GAAP earnings data for the first quarter suggests that the dual growth in earnings and revenue lays a solid foundation for future financial stability, potentially attracting more investor interest.
  • Market Outlook: With the ongoing growth in earnings and revenue, Mercantile Bank is poised to continue showcasing strong market performance in future financial reports, thereby strengthening its position in the banking sector.
Wall Street analysts forecast MBWM stock price to rise
3 Analyst Rating
Wall Street analysts forecast MBWM stock price to rise
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.000
sliders
Low
54.00
Averages
55.17
High
56.00
Current: 0.000
sliders
Low
54.00
Averages
55.17
High
56.00
Stephens
Equal Weight
initiated
$54
AI Analysis
2026-03-24
Reason
Stephens
Price Target
$54
AI Analysis
2026-03-24
initiated
Equal Weight
Reason
Stephens initiated coverage of Mercantile Bank with an Equal Weight rating and $54 price target. Over the next year, the firm believes Mercantile will be \"on a pathway\" to show net interest margin expansion via lower deposit costs, mid- to high-single-digit loan growth and new markets, the analyst tells investors. Mercantile is a \"high-quality, growth-oriented small-cap bank with a pathway to + $6.00 in annualized EPS by mid-2027,\" but shares are relatively near fair value, the analyst added.
Piper Sandler
Neutral
maintain
$57
2026-01-21
Reason
Piper Sandler
Price Target
$57
2026-01-21
maintain
Neutral
Reason
Piper Sandler raised the firm's price target on Mercantile Bank to $57 from $55.50 and keeps a Neutral rating on the shares. While results in Q4 were mixed with a 4% pre-provision net revenue shortfall on greater net interest margin compression and continued elevated payoffs, the firm believes Mercantile Bank's superior profitability outlook remains intact following the close of its Eastern Michigan Financial acquisition on December 31. The addition of Eastern Michigan Financial's enviable low-cost deposit franchise and excess liquidity should support net interest margin expansion this year and continued strong profitability metrics, Piper adds.
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Valuation Metrics

The current forward P/E ratio for Mercantile Bank Corp (MBWM.O) is 10.87, compared to its 5-year average forward P/E of 8.93. 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.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average PE
8.93
Current PE
10.87
Overvalued PE
10.42
Undervalued PE
7.44

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.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
N/A
5Y Average EV/EBITDA
0.99
Current EV/EBITDA
8.65
Overvalued EV/EBITDA
5.02
Undervalued EV/EBITDA
-3.04

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.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average PS
2.82
Current PS
3.14
Overvalued PS
3.16
Undervalued PS
2.48

Financials

AI Analysis
Annual
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Whales Holding MBWM

N
North Star Asset Management, Inc
Holding
MBWM
+0.64%
3M Return

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Frequently Asked Questions

What is Mercantile Bank Corp (MBWM) stock price today?

The current price of MBWM is 51.43 USD — it has decreased -3.44

What is Mercantile Bank Corp (MBWM)'s business?

Mercantile Bank Corporation is the bank holding company for Mercantile Bank and Eastern Michigan Bank. Mercantile Bank and Eastern Michigan Bank provide financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units. Eastern Michigan Bank operates over 12 branches across three counties, offering a full range of personal and business banking services. Eastern Michigan Bank’s personal services include personal checking, personal savings, youth and young adults, CDs and IRAs, online and mobile banking, 24-hour telephone banking, debit cards, personal credit cards, additional services, and Zelle. Eastern Michigan Bank’s loans include vehicle and personal loans, home equity loans and lines, student loans (opens in a new window), business loans, and agricultural loans. Eastern Michigan Bank’s business services include business checking, business savings, business credit cards, and others.

What is the price predicton of MBWM Stock?

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 is55.17 USD with a low forecast of 54.00 USD and a high forecast of 56.00 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.

What is Mercantile Bank Corp (MBWM)'s revenue for the last quarter?

Mercantile Bank Corp revenue for the last quarter amounts to 54.94M USD, increased 4.88

What is Mercantile Bank Corp (MBWM)'s earnings per share (EPS) for the last quarter?

Mercantile Bank Corp. EPS for the last quarter amounts to 1.40 USD, increased 14.75

How many employees does Mercantile Bank Corp (MBWM). have?

Mercantile Bank Corp (MBWM) has 744 emplpoyees as of April 22 2026.

What is Mercantile Bank Corp (MBWM) market cap?

Today MBWM has the market capitalization of 888.42M USD.