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Mercantile Bank Corporation MBWM R2KR3KFINANCIAL

Financial Services · Banks - Regional · United States
https://www.mercbank.com
Company Profile ↓
$62.14
+35.91% 1Y
Mkt Cap$1.07B
P/E10.92
P/B1.39
Div. Yield2.54%
52W High$62.14
52W Low$41.89
Book Value$43.68
EPS (TTM)$5.69

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 10.9, below the sector median of 14.5.

Healthy Margins

Maintains a net profit margin of 36.1%.

Dividend Income

Offers a dividend yield of 2.54%.

Recent Developments

  • Trailing 12 Months Year-on-year growth — revenue +18.9%, earnings +7.9%.
  • 5-Year Trend Long-term compounding — profit CAGR 15.0%.

Growth & Price Performance

Compounded Sales Growth

5 Years:-
1 Year:18.90%

Compounded Profit Growth

5 Years:14.99%
1 Year:7.90%

Stock Price Performance

1 Year:+35.91%
6 Months:+25.20%
3 Months:+18.59%
1 Month:+1.98%

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

Technical Snapshot Bullish
52-Week Range 100% of range
$41.89 $62.14
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)64.82 · Neutral
Price Performance
1M+1.98%
3M+18.59%
6M+25.20%
1Y+35.91%
Valuation vs Sector

P/E of 10.92 is below the sector median of 14.52 — 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 36.1%.
  • Profit CAGR of 15.0% over 5 years.
  • Attractive dividend yield of 2.54%.
  • 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
10.92
Industry PE
14.52
Forward P/E
10.84
PEG Ratio
1.63
Book Value
$43.68
Price to Book
1.39
P/S
3.98
EV/EBITDA
-
Dividend Yield
2.54%

Growth (CAGR)

Revenue 5Y
-
Profit 5Y
14.99%
Revenue (YoY)
18.90%
Earnings (YoY)
7.90%

Profitability & Returns

ROCE
-
ROE
13.73%
ROA
1.47%
Profit Margin
36.08%
Op Margin
45.55%
Gross Margin
0.00%
EPS (Latest Qtr)
$1.50
EPS (TTM)
$5.69

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
-
Current Ratio
-
Debt
$709.51M
Total Assets
$6.82B
Current Assets
-
Working Capital
-

Ownership

Promoter Holding
3.10%
Chg in Prom Hold
-0.00%
FII / Inst Holding
70.99%
Chg in FII Hold
0.02%

Financial Snapshot

Enterprise Value
$1.07B
Total Revenue (TTM)
$263.91M
EBITDA
-
Free Cash Flow
-
Operating Cash Flow
$72.33M
Shares Outstanding
17.29M
Gross Margin
0.00%
Payout Ratio
27.07%

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 R2KR3KFINANCIAL 62.14 10.92 $1.07B 2.54% - 13.73% - 14.99%
2 JPM JPMorgan Chase & Co. SPXR3KFINANCIAL 358.64 15.37 $953.34B 1.68% - 17.79% 12.50% 14.83%
3 BRK-B Berkshire Hathaway Inc. SPXFINANCIAL 506.03 15.07 $707.59B 0.00% - 10.50% 4.18% 9.44%
4 V Visa Inc. SPXR3KFINANCIAL 374.00 31.86 $637.34B 0.72% 37.15% 61.19% 14.33% 13.04%
5 MA Mastercard Incorporated SPXR3KFINANCIAL 579.21 31.82 $503.60B 0.60% 60.19% - 12.29% 19.21%
6 BAC Bank of America Corporation SPXR3KFINANCIAL 62.68 14.48 $438.31B 2.03% - 11.20% 3.14% 4.27%
7 BRK-A Berkshire Hathaway Inc. FINANCIAL 759,350.00 15.07 $384.00B 0.00% - 10.50% 7.60% 10.02%
8 HSBC HSBC Holdings plc FINANCIAL 107.11 15.30 $367.34B 3.62% - 13.10% 9.75% 12.72%
9 MS Morgan Stanley SPXR3KFINANCIAL 217.72 17.59 $342.26B 2.15% - 17.97% 3.76% 9.66%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Dec 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 2025Dec 2025Mar 2026Jun 2026
Revenue -----------------------------------60.94M62.39M62.07M67.59M68.76M
Cost of Revenue ----------------------------------------
Gross Profit ----------------------------------------
Operating Expenses ----------------------------------------
Operating Income ----------------------------------------
EBITDA ----------------------------------------
Interest Expense -----------------------------------32.48M33.64M31.24M29.52M29.44M
Pretax Income -----------------------------------25.96M27.44M26.05M27.28M31.18M
Tax Provision -----------------------------------3.34M3.68M3.21M4.60M5.25M
Net Income -8.55M7.43M7.84M8.09M7.62M7.34M8.34M7.98M10.88M9.45M10.12M11.57M11.82M11.71M12.60M13.32M10.67M8.70M10.69M14.08M14.24M18.09M15.05M11.64M11.49M11.74M16.03M20.97M20.36M20.86M21.56M18.79M19.62M-22.62M23.76M22.84M22.68M25.93M
Diluted EPS 0.400.520.460.480.490.460.450.510.480.660.570.610.700.720.710.770.810.650.540.660.860.871.120.950.740.730.741.011.311.271.301.341.171.22-1.391.461.401.321.50

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
70.99%
Public Float
73.26%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 8.88% 1.53M $92.39M
2 Wellington Management Group, LLP 6.29% 1.09M $65.51M
3 Dimensional Fund Advisors LP 6.06% 1.05M $63.03M
4 Vanguard Capital Management LLC 4.26% 735.61K $44.29M
5 American Century Companies Inc 3.62% 625.01K $37.63M
6 State Street Corporation 3.46% 598.64K $36.04M
7 Geode Capital Management, LLC 2.70% 466.41K $28.08M
8 Renaissance Technologies, LLC 2.58% 446.61K $26.89M
9 North Star Asset Management Inc. 2.18% 377.43K $22.72M
10 Vanguard Portfolio Management LLC 1.68% 290.09K $17.47M

Analyst View

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Latest News

Recent headlines for MBWM

Google News Mon, 07 Sep 2026

$62.225 | Mercantile Bank Corporation Common Stock (MBWM) Stock Price Today - Binance

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Google News Fri, 04 Sep 2026

BMW Stock Has Rarely Been Cheaper Amid Pressure in Chinese Market - barrons.com

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Google News Sat, 05 Sep 2026

Has Mercantile Bank (MBWM) Run Ahead Of Its Valuation Story? - simplywall.st

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Google News hu, 03 Sep 2026

Mercantile Bank Corp (MBWM) Stock Up 3.1% but GF Value Says Over - GuruFocus

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Google News Sat, 05 Sep 2026

Why BMW stock is among 'the worst performers' in the auto group - Fox Business

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Google News Wed, 02 Sep 2026

Mercantile Bank Corporation (NASDAQ:MBWM) Announces Dividend Increase - $0.40 Per Share - marketbeat.com

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MBWM — Frequently Asked Questions

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

As of 2026-09-07 16:24 PDT, Mercantile Bank Corporation (MBWM) trades at $62.14 on NasdaqGS. Its 52-week range is $41.89 to $62.14.

What is the market capitalisation of MBWM?

Mercantile Bank Corporation (MBWM) has a market capitalisation of $1.07B on NasdaqGS.

What is the P/E ratio of MBWM?

MBWM trades at a trailing price-to-earnings (P/E) ratio of 10.92. The industry average P/E is 14.52. Its price-to-book (P/B) ratio is 1.39.

Does MBWM pay a dividend?

Mercantile Bank Corporation (MBWM) currently offers a dividend yield of 2.54%.

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

MBWM has a return on equity (ROE) of 13.73%.

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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