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Mercantile Bank Corporation MBWM R2K

Financial Services · Banks - Regional · United States
https://www.mercbank.com
Company Profile ↓
$57.05
+19.00% 1Y
Mkt Cap$985.50M
P/E10.22
P/B1.29
Div. Yield2.82%
52W High$58.90
52W Low$42.16
Book Value$42.66
EPS (TTM)$5.58

Company Overview

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. The company accepts various deposit products, such as checking, savings, and term certificate accounts; time deposits; and certificates of deposit. It also provides 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; 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, the company offers courier services and safe deposit boxes; 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. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

Why Investors Should Care

Consistent Profit Growth

Net profit has compounded at 15.0% per year over the last five years.

Reasonable Valuation

Trades at a P/E of 10.2, below the sector median of 13.3.

Healthy Margins

Maintains a net profit margin of 36.4%.

Dividend Income

Offers a dividend yield of 2.82%.

Recent Developments

  • Trailing 12 Months Year-on-year growth — revenue +25.8%, earnings +9.1%.
  • 5-Year Trend Long-term compounding — profit CAGR 15.0%.

Growth & Price Performance

Compounded Sales Growth

5 Years:-
1 Year:25.80%

Compounded Profit Growth

5 Years:14.99%
1 Year:9.10%

Stock Price Performance

1 Year:+19.00%
6 Months:+18.33%
3 Months:+7.85%
1 Month:+5.22%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bullish
52-Week Range 89% of range
$42.16 $58.90
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)58.12 · Neutral
Price Performance
1M+5.22%
3M+7.85%
6M+18.33%
1Y+19.00%
Valuation vs Sector

P/E of 10.22 is below the sector median of 13.30 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Excellent profit margin of 36.4%.
  • Profit CAGR of 15.0% over 5 years.
  • Attractive dividend yield of 2.82%.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
10.22
Industry PE
13.30
Forward P/E
9.66
PEG Ratio
1.63
Book Value
$42.66
Price to Book
1.29
P/S
3.77
EV/EBITDA
-
Dividend Yield
2.82%

Growth (CAGR)

Revenue 5Y
-
Profit 5Y
14.99%
Revenue (YoY)
25.80%
Earnings (YoY)
9.10%

Profitability & Returns

ROCE
-
ROE
13.66%
ROA
1.40%
Profit Margin
36.37%
Op Margin
41.00%
Gross Margin
0.00%
EPS (Latest Qtr)
$1.32
EPS (TTM)
$5.58

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
-
Current Ratio
-
Debt
$726.09M
Total Assets
$6.95B
Current Assets
-
Working Capital
-

Ownership

Promoter Holding
3.10%
Chg in Prom Hold
-
FII / Inst Holding
69.00%
Chg in FII Hold
-0.01%

Financial Snapshot

Enterprise Value
$985.50M
Total Revenue (TTM)
$252.69M
EBITDA
-
Free Cash Flow
-
Operating Cash Flow
$49.26M
Shares Outstanding
17.27M
Gross Margin
0.00%
Payout Ratio
27.24%

Peer comparison

Peer companies in the same sector (Financial Services).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MBWM Mercantile Bank Corporation R2K 57.05 10.22 $985.50M 2.82% - 13.66% - 14.99%
2 JPM JPMorgan Chase & Co. SPX 342.89 16.42 $918.78B 1.87% - 16.47% 5.35% 7.56%
3 BRK-B Berkshire Hathaway Inc. SPX 491.09 14.61 $686.70B 0.00% - 10.50% 4.18% 9.44%
4 V Visa Inc. SPX 356.02 31.01 $590.89B 0.83% 37.15% 60.35% 14.33% 13.04%
5 MA Mastercard Incorporated SPX 538.02 31.10 $471.86B 0.71% 60.19% - 12.29% 19.21%
6 BAC Bank of America Corporation SPX 60.62 15.04 $430.20B 2.00% - 10.64% 6.00% 3.49%
7 MS Morgan Stanley SPX 227.67 20.62 $359.10B 1.87% - 16.39% 3.76% 9.66%
8 GS The Goldman Sachs Group, Inc. SPX 1,140.00 20.83 $336.31B 1.69% - 14.55% - 2.21%
9 WFC Wells Fargo & Company SPX 85.29 13.18 $261.00B 2.11% - 12.03% 4.02% 15.98%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Jun 2015Sep 2015Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Mar 2025Jun 2025Sep 2025Mar 2026
Net Income 6.56M7.34M-8.55M7.43M7.84M8.09M7.62M7.34M8.34M7.98M10.88M9.45M10.12M11.57M11.82M11.71M12.60M13.32M10.67M8.70M10.69M14.08M14.24M18.09M15.05M11.64M11.49M11.74M16.03M20.97M20.36M20.86M21.56M18.79M19.62M19.54M22.62M23.76M22.68M
Diluted EPS 0.390.450.400.520.460.480.490.460.450.510.480.660.570.610.700.720.710.770.810.650.540.660.860.871.120.950.740.730.741.011.311.271.301.341.171.221.211.391.461.32

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Net Income -52.09M-13.32M37.48M12.54M17.03M17.33M27.02M31.91M31.27M42.02M49.46M44.14M59.02M61.06M82.22M79.59M88.75M
Diluted EPS -6.23-1.724.071.301.951.281.621.961.902.533.012.713.693.855.134.935.47

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --1.63B1.43B1.42B1.43B2.89B2.90B3.08B3.29B3.36B3.63B4.44B5.26B4.87B5.35B6.05B6.84B
Total Equity 174.37M140.10M125.94M165.00M146.59M153.32M328.14M333.80M340.81M365.87M375.25M416.56M441.55M456.56M441.41M522.14M584.53M724.88M
Cash & Equivalents 25.80M21.73M64.20M76.37M136.00M-------------
Total Liabilities --1.51B1.27B1.28B1.27B2.57B2.57B2.74B2.92B2.99B3.22B4.00B4.80B4.43B4.83B5.47B6.11B

Cash Flows (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow -8.78M29.60M22.51M17.03M28.68M14.41M36.00M34.60M38.66M61.74M44.77M37.88M64.57M119.86M66.61M101.12M17.97M
Investing Cash Flow 242.57M271.68M227.72M66.73M-12.42M64.76M-96.20M-96.56M-191.47M-210.48M-92.84M-398.81M-495.51M-555.00M-395.93M-425.44M-105.70M
Financing Cash Flow -237.86M-258.82M-238.05M-24.13M-5.30M-53.40M-22.65M155.66M169.31M24.00M206.45M753.20M780.09M-443.25M363.08M586.79M168.04M
Share Buybacks ----0015.76M3.73M05.94M7.18M6.59M21.38M00--

Ratios (Annual)

Figures in %.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -----------------
Operating Margin % -----------------
Net Margin % -----------------
ROE % -37.2%-10.6%22.7%8.6%11.1%5.3%8.1%9.4%8.5%11.2%11.9%10.0%12.9%13.8%15.7%13.6%12.2%
ROCE % -----------------

Shareholding Pattern

Insiders
3.10%
Institutions
69.00%
Public Float
71.20%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 8.04% 1.39M $79.55M
2 Wellington Management Group, LLP 6.88% 1.19M $68.11M
3 Dimensional Fund Advisors LP 5.98% 1.03M $59.16M
4 Vanguard Capital Management LLC 4.08% 704.32K $40.34M
5 American Century Companies Inc 3.25% 561.47K $32.16M
6 State Street Corporation 2.91% 502.47K $28.78M
7 Renaissance Technologies, LLC 2.73% 472.21K $27.05M
8 Geode Capital Management, LLC 2.52% 435.01K $24.92M
9 North Star Asset Management Inc. 2.22% 383.18K $21.95M
10 LSV Asset Management 1.64% 283.19K $16.22M

Analyst View

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Latest News

Recent headlines for MBWM

Google News ue, 14 Jul 2026

A Michigan project will create 24 affordable housing units; MCP invests $6.6M - Stock Titan

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Google News ue, 14 Jul 2026

Earnings Preview: Mercantile Bank (MBWM) Q2 Earnings Expected to Decline - Yahoo Finance

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Google News ue, 30 Jun 2026

One Share, One Vote: BMW AG Converts Preferred Shares into Ordinary Shares - BMW Group

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Google News Fri, 10 Jul 2026

Price to book forward of Mercantile Bank Corporation – NASDAQ:MBWM - TradingView

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Google News hu, 18 Jun 2026

BMW: Guidance Cut as China Headwinds Delay Recovery - Morningstar

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Google News ue, 21 Apr 2026

Mercantile Bank Corporation Declares Regular Cash Dividend - PR Newswire

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MBWM — Frequently Asked Questions

What is the current share price of Mercantile Bank Corporation (MBWM)?

As of 2026-07-14 21:23 PDT, Mercantile Bank Corporation (MBWM) trades at $57.05 on NasdaqGS. Its 52-week range is $42.16 to $58.90.

What is the market capitalisation of MBWM?

Mercantile Bank Corporation (MBWM) has a market capitalisation of $985.50M on NasdaqGS.

What is the P/E ratio of MBWM?

MBWM trades at a trailing price-to-earnings (P/E) ratio of 10.22. The industry average P/E is 13.30. Its price-to-book (P/B) ratio is 1.29.

Does MBWM pay a dividend?

Mercantile Bank Corporation (MBWM) currently offers a dividend yield of 2.82%.

What is the return on equity (ROE) of MBWM?

MBWM has a return on equity (ROE) of 13.66%.

Is MBWM a good stock to buy?

This page provides a data-driven analysis of Mercantile Bank Corporation (MBWM), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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