Mercantile Bank Corporation (MBWM)

Mercantile Bank Stock Forecast

Stock Price Forecast

The 4 analysts that cover Mercantile Bank stock have a consensus rating of "Buy" and an average price target of $52.88, which forecasts a 17.17% increase in the stock price over the next year. The lowest target is $47.5 and the highest is $56.

Price Target: $52.88 (+17.17%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$47.5	$52.88	$56	$56
Change	+5.25%	+17.17%	+24.09%	+24.09%

* Price targets were last updated on Oct 22, 2025.

Analyst Ratings

The average analyst rating for Mercantile Bank stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jun '25	Jul '25	Aug '25	Sep '25	Oct '25	Nov '25
Strong Buy	0	0	0	0	0	0
Buy	1	2	2	2	2	2
Hold	1	2	2	2	2	2
Sell	0	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	2	4	4	4	4	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Daniel Tamayo Raymond James	Raymond James	Buy Reiterates $55 → $52	Buy	Reiterates	$55 → $52	+15.22%	Oct 22, 2025
Daniel Tamayo Raymond James	Raymond James	Hold → Buy Upgrades $55	Hold → Buy	Upgrades	$55	+21.87%	Jul 24, 2025
Nathan Race Piper Sandler	Piper Sandler	Hold Maintains $48 → $56	Hold	Maintains	$48 → $56	+24.09%	Jul 23, 2025
Damon Delmonte Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Buy Maintains $53 → $56	Buy	Maintains	$53 → $56	+24.09%	Jul 23, 2025
Brandan Nosal Piper Sandler	Piper Sandler	Hold Maintains $50 → $48	Hold	Maintains	$50 → $48	+5.25%	Apr 23, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

247.46M

Increased by 10.44%

from 224.08M

Revenue Next Year

274.96M

Increased by 11.11%

from 247.46M

EPS This Year

5.51

Increased by 11.70%

from 4.93

EPS Next Year

5.54

Increased by 0.53%

from 5.51

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	153.37M	184.58M	183.77M	217.99M	224.08M	247.46M	274.96M
Revenue Growth	2.42%	20.35%	-0.44%	18.62%	2.79%	10.44%	11.11%
EPS	2.71	3.69	3.85	5.13	4.93	5.51	5.54
EPS Growth	-9.97%	36.16%	4.34%	33.25%	-3.90%	11.70%	0.53%
Forward PE	-	-	-	-	-	8.20	8.15
No. Analysts	-	-	-	-	-	7	7

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027
High	255.4M	291.8M
Avg	247.5M	275.0M
Low	237.3M	249.7M

Revenue Growth

Revenue Growth	2025	2026	2027
High	14.0%	17.9%
Avg	10.4%	11.1%
Low	5.9%	0.9%

EPS Forecast

EPS	2025	2026	2027
High	5.73	5.79
Avg	5.51	5.54
Low	5.23	5.19

EPS Growth

EPS Growth	2025	2026	2027
High	16.3%	5.1%
Avg	11.7%	0.5%
Low	6.2%	-5.7%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.