M

    Mercantile Bank Corporation (MBWM)

    Official site

    FINANCIAL SERVICES • BANKS - REGIONAL • NASDAQ

    $59.76
    -0.45 (-0.75%)

    Market Cap: $1.04B

    Last updated: Sep 01, 2026 at 10:00 AM ET

    Earnings

    Performance (10Y)

    Beat Rate
    93%(37/40)
    Avg Surprise
    +15.61%
    Streak
    16 Q

    Upcoming Estimates

    Sep 30, 2026
    EPS Consensus$1.36
    Range$1.34 - $1.37
    6 analysts
    EPS RevisionsNo revisions (7d)
    0
    6
    30d
    EPS Estimate Drift
    90d ago$1.40+2.9%
    60d ago$1.40+2.9%
    30d ago$1.40+2.9%
    7d ago$1.40+2.8%
    Current$1.36
    Revenue Consensus
    $71M
    Range$70M - $72M
    5 analysts
    Dec 31, 2026
    EPS Consensus$1.69
    Range$1.57 - $1.77
    6 analysts
    Revenue Consensus
    $72M
    Range$71M - $74M
    5 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.69---
    Sep 26EST
    		-$1.36---
    Jun 26
    		$1.53$1.34+14.18%Beat+10.1%
    Mar 26
    		$1.46$1.31+11.45%Beat+20.7%
    Dec 25
    		$1.40$1.37+2.19%Beat+14.8%
    Sep 25
    		$1.46$1.38+5.80%Beat+19.7%
    Jun 25
    		$1.39$1.25+11.20%Beat+18.8%
    Mar 25
    		$1.21$1.18+2.54%Beat-9.7%
    Dec 24
    		$1.22$1.14+7.02%Beat-2.4%
    Sep 24
    		$1.22$1.17+4.27%Beat-6.2%
    Jun 24
    		$1.17$1.16+0.86%Beat-7.9%
    Mar 24
    		$1.34$1.14+17.54%Beat+2.3%
    Dec 23
    		$1.25$1.24+0.81%Beat-8.8%
    Sep 23
    		$1.30$1.15+13.04%Beat+28.7%
    Jun 23
    		$1.27$1.10+15.45%Beat+71.6%
    Mar 23
    		$1.31$1.16+12.93%Beat+79.5%
    Dec 22
    		$1.37$1.20+14.17%Beat+45.7%
    Sep 22
    		$1.01$0.98+3.06%Beat+6.3%
    Jun 22
    		$0.74$0.76-2.63%Miss-33.9%
    Mar 22
    		$0.73$0.74-1.35%Miss-16.1%
    Dec 21
    		$0.94$0.86+9.30%Beat+1.1%
    Sep 21
    		$0.95$0.85+11.76%Beat+43.9%
    Jun 21
    		$1.12$0.78+43.59%Beat+107.4%
    Mar 21
    		$0.87$0.71+22.54%Beat+33.8%
    Dec 20
    		$0.93$0.55+69.09%Beat+13.4%
    Sep 20
    		$0.66$0.43+53.49%Beat-14.3%
    Jun 20
    		$0.54$0.27+100.00%Beat-23.9%
    Mar 20
    		$0.65$0.47+38.30%Beat-9.7%
    Dec 19
    		$0.82$0.65+26.15%Beat+17.1%
    Sep 19
    		$0.77$0.63+22.22%Beat+26.2%
    Jun 19
    		$0.71$0.60+18.33%Beat+24.6%
    Mar 19
    		$0.72$0.59+22.03%Beat+9.1%
    Dec 18
    		$0.70$0.61+14.75%Beat+45.8%
    Sep 18
    		$0.61$0.61+0.00%Beat+19.6%
    Jun 18
    		$0.57$0.57+0.00%Beat+26.7%
    Mar 18
    		$0.66$0.56+17.86%Beat+43.5%
    Dec 17
    		$0.48$0.50-4.00%Miss-2.0%
    Sep 17
    		$0.51$0.48+6.25%Beat+6.3%
    Jun 17
    		$0.45$0.45+0.00%Beat-
    Mar 17
    		$0.46$0.43+6.98%Beat-
    Dec 16
    		$0.49$0.46+6.52%Beat-
    Sep 16
    		$0.48$0.45+6.67%Beat-

    Dividends

    Dividend Metrics

    Yield2.58%
    Annual/Share$1.54
    Payout Ratio27.95%
    Frequency4
    Pay MonthsMar, Jun, Sep, Dec

    Growth

    3Y CAGR+5.98%
    5Y CAGR+6.02%
    View MBWM's full dividend history

    Key Metrics

    Valuation
    P/E Ratio10.22EV/EBITDAN/A
    Price/FCFN/AFCF YieldN/A
    Profitability
    Profit Margin36.10%Operating Margin45.60%
    ROE13.70%ROIC6.59%
    Financial Health
    Debt/Equity0.91xInterest Coverage0.90x
    Current RatioN/AQuick RatioN/A
    Trading Statistics
    Beta0.81Avg Volume106.10K
    52-Week High$62.3952-Week Low$41.78

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$60.01
    SMA 20$60.64
    SMA 50$58.94
    SMA 200$52.45
    EMA 10$60.11
    EMA 20$60.08
    EMA 50$58.67
    EMA 200$53.44

    MACD

    Line: 0.26Signal: 0.51Hist: -0.25

    ADX

    ADX: 18.9+DI: 17.7-DI: 21.4

    Aroon & PSAR

    Aroon Up12.0
    Aroon DownN/A
    PSAR$61.18

    Bollinger Bands

    Upper Band$62.21
    Lower Band$59.08
    %B Position516%(Upper)
    Band Width0.22

    RSI (14-Day)

    Neutral
    49.3

    Momentum Oscillators

    Stoch %K38.6
    Stoch %D36.2
    Williams %R-65.4
    ROC (10d)-2.3%
    Momentum-1.38
    CCI (20d)-81.1
    MFI (14d)42.2

    Volatility Measures

    ATR (14d)$1.32(2.2%)
    StdDev (20d)0.78
    Hist Vol14.3%(Low)

    Volume Flow

    VWAP$59.79
    OBV2.9M
    AD Line-22.4M
    CMF (20d)0.122

    Volume Metrics

    Avg Vol (20d)106.4K
    Vol Ratio1.1x
    VWMA (20d)$60.80

    Pivot Points

    R3$61.53
    R2$61.07
    R1$60.64
    Pivot Point$60.18
    S1$59.75
    S2$59.29
    S3$58.86

    Advanced Oscillators

    TSI7.09
    Ultimate Osc51.4
    KST19.24

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$68.76M$67.59M$62.07M$62.39M$60.94M$57.25M$58.53M$57.96M$56.75M$58.23M$56.95M$58.21M
    Cost of RevenueN/A$27.73M$31.94M$33.84M$34.08M$33.89M$35.63M$36.22M$35.31M$30.66M$26.95M$25.49M
    Gross ProfitN/A$68.79M$61.37M$62.19M$59.34M$55.15M$57.03M$56.86M$53.25M$56.93M$55.15M$54.91M
    Operating Expenses$39.38M$42.11M$36.73M$34.75M$33.38M$31.10M$33.80M$32.30M$29.74M$29.94M$29.94M$28.92M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$0$0$0$0$0$0$0$0$0$0$0$0
    Operating IncomeN/A$27.28M$24.64M$27.44M$25.96M$24.05M$23.23M$24.56M$23.52M$26.98M$25.21M$25.99M
    Interest Income$86.70M$85.43M$82.25M$85.64M$81.96M$80.34M$82.49M$83.41M$78.88M$76.72M$73.80M$71.15M
    Interest Expense$29.44M$29.52M$31.24M$33.64M$32.48M$31.79M$34.13M$35.12M$31.81M$29.36M$25.15M$22.19M
    Income Before Tax$31.18M$27.28M$26.05M$27.44M$25.96M$24.05M$23.23M$24.56M$23.52M$26.98M$25.21M$25.99M
    Income Tax Expense$5.25M$4.60M$3.21M$3.68M$3.34M$4.51M$3.60M$4.94M$4.73M$5.42M$5.18M$5.13M
    Net Income$25.93M$22.68M$22.84M$23.76M$22.62M$19.54M$19.63M$19.62M$18.79M$21.56M$20.03M$20.86M
    EBITDA$32.36M$28.98M$27.43M$28.78M$27.38M$25.69M$25.59M$27.22M$26.22M$29.76M$27.85M$28.91M
    EBIT$31.18M$27.28M$26.05M$27.44M$25.96M$24.05M$23.23M$24.56M$23.52M$26.98M$25.21M$25.99M
    * Some calculated fields are derived from available data when not provided by source

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    News

    Royal Bank of Canada Has $584,000 Holdings in Mercantile Bank Corporation $MBWM

    Royal Bank of Canada reduced its stake in Mercantile Bank Corporation (NASDAQ:MBWM) by 60.3% in the first quarter, now holding 11,564 shares valued at $584,000. Institutional investors collectively own 58.63% of the company's stock. Mercantile Bank recently exceeded analyst earnings expectations and increased its quarterly dividend to $0.40 per share, while analysts maintain a consensus "Hold" rating with an average price target of $60.40.

    MarketBeat•8/25/26•
    Somewhat-Bullish

    Mercantile Bank Corporation (NASDAQ:MBWM) Given Consensus Rating of "Hold" by Analysts

    Analysts have given Mercantile Bank Corporation (NASDAQ:MBWM) a consensus "Hold" rating, with four hold and three buy recommendations, and an average 12-month price target of $60.40. The company recently exceeded earnings estimates with $1.53 per share and raised its quarterly dividend to $0.40 per share, offering a 2.7% yield. Institutional investors hold a significant 58.63% of the stock.

    MarketBeat•8/24/26•
    Somewhat-Bullish

    De Lisle Partners LLP Takes Position in Mercantile Bank Corporation $MBWM

    De Lisle Partners LLP has acquired a new stake of 75,649 shares, valued at approximately $4.35 million, in Mercantile Bank Corporation (NASDAQ:MBWM) during the second quarter. This move makes De Lisle Partners LLP a 0.44% owner of Mercantile Bank. Other institutional investors have also increased their positions in the company, bringing the total institutional ownership to 58.63%.

    MarketBeat•8/23/26•
    Bullish

    Compared to Estimates, Mercantile Bank (MBWM) Q2 Earnings: A Look at Key Metrics

    Mercantile Bank (MBWM) reported its Q2 2026 earnings, showing revenues of $68.76 million, a 12.8% year-over-year increase, and an EPS of $1.53. While revenue slightly missed Zacks Consensus Estimate by -0.74%, EPS beat estimates by 14.18%. The article further details several key financial metrics, comparing them against analyst estimates, and notes the stock's recent performance and Zacks Rank.

    Eastern Progress•8/22/26•
    Somewhat-Bullish

    Focus Partners Advisor Solutions LLC Buys Shares of 22,731 Mercantile Bank Corporation $MBWM

    Focus Partners Advisor Solutions LLC has acquired 22,731 shares of Mercantile Bank Corporation (NASDAQ:MBWM) worth approximately $1.305 million, representing a 0.13% stake in the company. Mercantile Bank recently reported strong quarterly earnings, beating analyst estimates, and increased its quarterly dividend. Despite a mixed analyst sentiment with a "Hold" consensus, institutional investors collectively own 58.63% of the company.

    MarketBeat•8/17/26•
    Somewhat-Bullish

    Frequently Asked Questions About MBWM

    What is MBWM's current dividend yield?
    Mercantile Bank Corporation (MBWM) has a current dividend yield of 2.58%.
    Does MBWM pay dividends?
    Yes, Mercantile Bank Corporation pays dividends with a current yield of 2.58%.
    What is MBWM's P/E ratio?
    Mercantile Bank Corporation has a price-to-earnings (P/E) ratio of 10.22.
    What is MBWM's market cap?
    Mercantile Bank Corporation (MBWM) has a market capitalization of $1.04B with a current stock price of $59.76.

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