Mercantile Bank Corporation (MBWM)

NASDAQ: MBWM · IEX Real-Time Price · USD
27.76
-0.82 (-2.85%)
Jun 5, 2023, 12:06 PM EDT - Market open
-2.85%
Market Cap 444.62M
Revenue (ttm) 198.44M
Net Income (ttm) 70.54M
Shares Out 16.00M
EPS (ttm) 4.43
PE Ratio 6.45
Forward PE 7.69
Dividend $1.32 (4.76%)
Ex-Dividend Date Jun 1, 2023
Volume 16,634
Open 28.66
Previous Close 28.57
Day's Range 27.25 - 28.66
52-Week Range 23.89 - 39.03
Beta 1.00
Analysts Buy
Price Target 37.50 (+35.11%)
Earnings Date Jul 18, 2023

About MBWM

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... [Read more]

Sector Financials
IPO Date Aug 7, 1997
Employees 633
Stock Exchange NASDAQ
Ticker Symbol MBWM
Full Company Profile

Financial Performance

In 2022, MBWM's revenue was $183.77 million, a decrease of -0.44% compared to the previous year's $184.58 million. Earnings were $61.06 million, an increase of 3.46%.

Financial Statements

Analyst Forecast

According to 3 analysts, the average rating for MBWM stock is "Buy." The 12-month stock price forecast is $37.5, which is an increase of 35.11% from the latest price.

Price Target
$37.5
(35.11% upside)
Analyst Consensus: Buy
Stock Forecasts

News

Mercantile Bank Corporation Announces Strong First Quarter Results

Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023, compared with net income of $11.5 million, or...

1 month ago - PRNewsWire

Mercantile Bank Corporation Declares Regular Cash Dividend

Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on April 13, 2023, its Board of Directors declared a regular quarterly cash dividend of $0.33 per common share, payable o...

1 month ago - PRNewsWire

Mercantile Bank Corporation Announces First Quarter 2023 Results Conference Call and Webcast

GRAND RAPIDS, Mich. , March 29, 2023 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m.

2 months ago - PRNewsWire
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Mercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2022 Results

Substantial increase in net interest income, solid loan growth, and continuing strength in asset quality metrics highlight 2022 GRAND RAPIDS, Mich. , Jan. 17, 2023 /PRNewswire/ -- Mercantile Bank Corp...

4 months ago - PRNewsWire

Mercantile Bank Corporation Increases Regular Cash Dividend

Board declares $0.33 regular quarterly cash dividend on common stock  resulting in a current annual yield of approximately 3.8 percent GRAND RAPIDS, Mich. , Jan. 17, 2023 /PRNewswire/ -- Mercantile Ba...

4 months ago - PRNewsWire

Mercantile Bank Corporation Announces Fourth Quarter and Full Year 2022 Results Conference Call and Webcast

GRAND RAPIDS, Mich. , Dec. 19, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m.

6 months ago - PRNewsWire

Mercantile Appoints New Members to Bank Board of Directors

GRAND RAPIDS, Mich. , Dec. 1, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile"), announced today the appointments of Amy L.

6 months ago - PRNewsWire

Mercantile Bank Corporation Announces Robust Third Quarter 2022 Results

Significant increase in net interest income, solid loan growth, and ongoing strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich. , Oct. 18, 2022 /PRNewswire/ -- Mercantile Bank Corp...

8 months ago - PRNewsWire
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Mercantile Bank Corporation Announces Third Quarter 2022 Results Conference Call and Webcast

GRAND RAPIDS, Mich. , Sept. 27, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call and webcast to discuss third quarter 2022 results on Tuesday, October 18, 20...

8 months ago - PRNewsWire

Mercantile Bank Corporation Raises Quarterly Dividend From $0.31 To $0.32/Share

Mercantile Bank Corporation Raises Quarterly Dividend From $0.31 To $0.32/Share

11 months ago - Benzinga

Mercantile Bank Corporation Announces Strong Second Quarter 2022 Results

Robust loan growth, continuing strength in asset quality metrics, and significant increases in several key fee income categories highlight quarter GRAND RAPIDS, Mich. , July 19, 2022 /PRNewswire/ -- M...

11 months ago - PRNewsWire

Mercantile Bank Corporation Announces Second Quarter 2022 Results Conference Call and Webcast

GRAND RAPIDS, Mich. , June 27, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call to discuss second quarter 2022 results on Tuesday, July 19, 2022, at 10:00 a....

1 year ago - PRNewsWire

Mercantile Bank Corporation Announces Solid First Quarter 2022 Results

Strong core commercial loan growth, ongoing strength in asset quality metrics, and substantial increases in several key fee income categories highlight quarter GRAND RAPIDS, Mich. , April 19, 2022 /PR...

1 year ago - PRNewsWire
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Mercantile Bank Corporation Announces First Quarter 2022 Results Conference Call and Webcast

GRAND RAPIDS, Mich. , March 30, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call to discuss first quarter 2022 results on Tuesday, April 19, 2022, at 10:00 a...

1 year ago - PRNewsWire

Mercantile Bank Corporation Announces Strong Fourth Quarter and Full Year 2021 Results

GRAND RAPIDS, Mich., Jan. 18, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $11.6 million, or $0.74 per diluted share, for the fourth quarter of...

1 year ago - PRNewsWire

Mercantile Bank Corporation Raises Additional $15 Million of Subordinated Notes

GRAND RAPIDS, Mich., Jan. 14, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile" or the "Company") today announced that it has issued an additional $15 million of its 3.25% ...

1 year ago - PRNewsWire

Mercantile Bank of Michigan Establishes The Mercantile Bank Foundation

GRAND RAPIDS, Mich., Dec. 30, 2021 /PRNewswire/ -- Mercantile Bank Corporation's (NASDAQ: MBWM) subsidiary bank Mercantile Bank of Michigan ("Mercantile Bank") announced today that it has formed The M...

1 year ago - PRNewsWire

Mercantile Bank Corporation Announces Fourth Quarter 2021 Results Conference Call and Webcast

GRAND RAPIDS, Mich., Dec. 17, 2021 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call to discuss fourth quarter 2021 results on Tuesday, January 18, 2022, at 10:00 ...

1 year ago - PRNewsWire

Mercantile Bank Corporation Closes Private Placement of $75 Million of Subordinated Notes

GRAND RAPIDS, Mich., Dec. 15, 2021 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile" or the "Company") today announced the pricing of its issuance, offer, and sale of $75 millio...

1 year ago - PRNewsWire

KBRA Assigns Ratings to Mercantile Bank Corporation

NEW YORK--(BUSINESS WIRE)-- #KBRA--Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 to Grand Rapids...

1 year ago - Business Wire

Mercantile Bank Corporation Reports Strong Third Quarter 2021 Results

GRAND RAPIDS, Mich., Oct. 19, 2021 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $15.1 million, or $0.95 per diluted share, for the third quarter of ...

1 year ago - PRNewsWire

Earnings Outlook For Mercantile Bank

MBWM is set to give its latest quarterly earnings report on Tuesday, 2021-10-19. Here's what investors need to know before the announcement.

1 year ago - Benzinga

Mercantile Bank Corporation Announces Third Quarter 2021 Results Conference Call and Webcast

GRAND RAPIDS, Mich., Sept. 30, 2021 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call to discuss third quarter 2021 results on Tuesday, October 19, 2021, at 10:00 ...

1 year ago - PRNewsWire

Recap: Mercantile Bank Q2 Earnings

Shares of Mercantile Bank (NASDAQ:MBWM) remained unaffected after the company reported Q2 results. Quarterly Results Earnings per share rose 107.41% year over year to $1.12, which beat the estimate of...

2 years ago - Benzinga

Mercantile Bank Corporation Reports Strong Second Quarter 2021 Results

GRAND RAPIDS, Mich., July 20, 2021 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $18.1 million, or $1.12 per diluted share, for the second quarter of...

2 years ago - PRNewsWire