MBWM - Mercantile Bank Corp Stock Price, Fair Value and News

39.89USD-0.07 (-0.18%)Delayed

Market Summary

USD39.89-0.07

Delayed

-0.18%

MBWM Alerts

Big jump in Revenue (Y/Y)

MBWM Stock Price

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MBWM RSI Chart

MBWM Valuation

Market Cap

643.1M

Price/Earnings (Trailing)

7.77

Price/Sales (Trailing)

2.24

EV/EBITDA

2.03

Price/Free Cashflow

7.24

MBWM Price/Sales (Trailing)

MBWM Profitability

EBT Margin

36.00%

Return on Equity

15.43%

Return on Assets

1.51%

Free Cashflow Yield

13.81%

MBWM Fundamentals

MBWM Revenue

Revenue (TTM)

287.6M

Rev. Growth (Yr)

26.85%

Rev. Growth (Qtr)

3.96%

MBWM Earnings

Earnings (TTM)

82.8M

Earnings Growth (Yr)

2.8%

Earnings Growth (Qtr)

7.65%

Breaking Down MBWM Revenue

Last 7 days

0.7%

Last 30 days

18.7%

Last 90 days

5.6%

Trailing 12 Months

50.6%

How does MBWM drawdown profile look like?

MBWM Financial Health

MBWM Investor Care

Dividend Yield

3.36%

Dividend/Share (TTM)

1.34

Shares Dilution (1Y)

0.76%

Diluted EPS (TTM)

5.16

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2024	287.6M	0	0	0
2023	206.4M	232.8M	255.8M	271.4M
2022	144.6M	148.4M	160.6M	181.8M
2021	145.2M	143.8M	144.1M	143.5M
2020	157.6M	155.0M	150.3M	148.3M
2019	145.6M	151.1M	156.0M	158.3M
2018	131.8M	135.2M	137.7M	142.0M
2017	118.3M	119.0M	122.4M	125.5M
2016	84.3B	56.2B	28.2B	118.5M
2015	45.0B	67.4B	89.9B	112.3B
2014	57.6M	62.1M	76.3M	22.5B
2013	58.6M	57.6M	57.5M	58.2M
2012	67.5M	63.9M	61.7M	59.9M
2011	84.1M	79.9M	75.2M	71.1M
2010	100.7M	96.5M	92.3M	88.1M
2009	0	0	0	104.9M

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

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Tracking the Latest Insider Buys and Sells of Mercantile Bank Corp

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
May 07, 2024	eldridge michelle larabee	gifted	-	-	-774	-
Mar 11, 2024	sanchez nelson f	acquired	-	-	69.00	-
Mar 11, 2024	sanchez nelson f	bought	3,651	36.51	100	-
Feb 16, 2024	kaminski robert b	sold (taxes)	-301,901	38.96	-7,749	president, ceo
Feb 16, 2024	reitsma raymond e.	sold (taxes)	-191,956	38.96	-4,927	executive vice president
Feb 16, 2024	christmas charles e	sold (taxes)	-140,762	38.96	-3,613	evp and cfo
Dec 14, 2023	worthington robert t.	acquired	-	-	1,337	svp, cro, secretary, and gc
Dec 14, 2023	christmas charles e	acquired	-	-	4,641	evp and cfo
Dec 14, 2023	kaminski robert b	acquired	-	-	8,667	president, ceo
Dec 14, 2023	hoover brett	acquired	-	-	2,734	svp, human resources director

Which funds bought or sold MBWM recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
May 16, 2024	COMERICA BANK	added	215	161,617	242,256	-%
May 16, 2024	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	reduced	-5.00	-64,178	615,417	-%
May 16, 2024	JANE STREET GROUP, LLC	sold off	-100	-433,722	-	-%
May 15, 2024	HSBC HOLDINGS PLC	added	10.08	12,996	327,896	-%
May 15, 2024	MORGAN STANLEY	reduced	-18.02	-966,151	3,454,540	-%
May 15, 2024	ZACKS INVESTMENT MANAGEMENT	new	-	304,632	304,632	-%
May 15, 2024	BRIDGEWAY CAPITAL MANAGEMENT, LLC	added	3.87	-36,022	3,611,790	0.07%
May 15, 2024	OBERWEIS ASSET MANAGEMENT INC/	added	4.7	-6,781	3,438,230	0.25%
May 15, 2024	AQR CAPITAL MANAGEMENT LLC	added	79.13	1,332,510	3,215,960	-%
May 15, 2024	DEUTSCHE BANK AG\	added	23.01	51,982	353,338	-%

Are Funds Buying or Selling MBWM?

Are funds buying MBWM calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own MBWM

No. of Funds

MBWM Alerts

Big jump in Revenue (Y/Y)

Unveiling Mercantile Bank Corp's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2024	dimensional fund advisors lp	7.2%	1,151,731	SC 13G/A
Jan 24, 2024	blackrock inc.	9.7%	1,554,923	SC 13G/A
Feb 10, 2023	dimensional fund advisors lp	7.5%	1,190,201	SC 13G/A
Jan 25, 2023	blackrock inc.	8.9%	1,408,265	SC 13G
Feb 14, 2022	visser bruce	4.58%	725,297	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	7.3%	1,148,110	SC 13G/A
Feb 01, 2022	blackrock inc.	8.8%	1,372,640	SC 13G/A
Feb 16, 2021	visser bruce	5.25%	857,091	SC 13G/A
Feb 12, 2021	dimensional fund advisors lp	7.6%	1,229,281	SC 13G/A
Feb 11, 2021	renaissance technologies llc	4.91%	801,513	SC 13G/A

Recent SEC filings of Mercantile Bank Corp

View All Filings

Date Filed	Form Type	Document
May 09, 2024	4	Insider Trading
May 03, 2024	10-Q	Quarterly Report
Apr 16, 2024	8-K	Current Report
Apr 08, 2024	ARS	ARS
Apr 04, 2024	DEF 14A	DEF 14A
Mar 13, 2024	4	Insider Trading
Mar 12, 2024	8-K	Current Report
Mar 12, 2024	4	Insider Trading
Mar 12, 2024	3	Insider Trading
Mar 01, 2024	10-K	Annual Report

Peers (Alternatives to Mercantile Bank Corp)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	588.1B	174.7B	13.73%	46.82%	11.68	3.37	53.11%	19.83%
BAC	307.4B	137.9B	11.58%	38.08%	12.28	2.23	56.12%	-12.56%
WFC	213.0B	85.8B	6.86%	51.95%	11.35	2.48	35.02%	26.14%
C	122.2B	125.0B	10.16%	38.13%	15.29	0.98	37.85%	-
CFG	16.9B	10.4B	12.51%	41.04%	11.81	1.62	26.22%	-33.87%
KEY	14.5B	8.1B	6.72%	53.23%	16.61	1.78	32.15%	-50.93%
MID-CAP
CMA	7.3B	4.2B	10.08%	41.38%	10.46	1.71	34.68%	-45.96%
ZION	6.6B	4.1B	14.23%	65.05%	10.55	1.63	32.93%	-30.73%
ABCB	3.5B	1.3B	13.35%	57.95%	12.32	2.65	30.60%	-12.99%
ASB	3.4B	2.0B	11.57%	43.03%	20.88	1.65	47.11%	-59.32%
SMALL-CAP
AMNB	497.6M	120.2M	6.68%	49.76%	19.02	4.14	45.65%	-13.98%
AROW	417.1M	173.1M	15.06%	27.00%	14.3	2.41	26.54%	-34.86%
ALRS	390.4M	152.4M	-0.90%	32.84%	39.27	2.56	16.94%	-73.84%
ACNB	295.5M	98.7M	10.19%	20.01%	10.04	2.99	6.27%	-22.90%
ASRV	48.0M	62.5M	8.95%	-1.75%	-16.24	0.77	18.83%	-145.18%

Mercantile Bank Corp News

Latest updates

Mercantile Bank Corp Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Income Statement (Quarterly)																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Revenue	4.0%	77.00	74.00	71.00	66.00	60.00	58.00	48.00	40.00	36.00	37.00	36.00	36.00	35.00	38.00	36.00	37.00	38.00	40.00	40.00	40.00	39.00
EBITDA Margin	-5.8%	1.07*	1.13*	1.22*	1.29*	1.34*	1.36*	1.35*	1.38*	1.45*	1.47*	-	-	-	-	-	-	-	-	-	-	-
Interest Expenses	-2.6%	47.00	49.00	49.00	48.00	48.00	51.00	42.00	34.00	31.00	33.00	31.00	31.00	30.00	32.00	30.00	31.00	30.00	31.00	32.00	31.00	31.00
Income Taxes	4.7%	5.00	5.00	5.00	5.00	5.00	5.00	4.00	3.00	3.00	4.00	4.00	4.00	3.00	4.00	3.00	2.00	3.00	3.00	3.00	3.00	3.00
Earnings Before Taxes	7.0%	27.00	25.00	26.00	25.00	26.00	27.00	20.00	15.00	14.00	15.00	19.00	22.00	18.00	18.00	13.00	11.00	13.00	16.00	16.00	14.00	15.00
EBT Margin	-4.9%	0.36*	0.38*	0.41*	0.42*	0.42*	0.42*	0.40*	0.42*	0.49*	0.51*	-	-	-	-	-	-	-	-	-	-	-
Net Income	7.6%	22.00	20.00	21.00	20.00	21.00	22.00	16.00	12.00	11.00	12.00	15.00	18.00	14.00	14.00	11.00	9.00	11.00	13.00	13.00	12.00	12.00
Net Income Margin	-5.0%	0.29*	0.30*	0.33*	0.34*	0.34*	0.34*	0.32*	0.34*	0.39*	0.41*	-	-	-	-	-	-	-	-	-	-	-
Free Cashflow	651.3%	40.00	-7.30	36.00	19.00	18.00	37.00	33.00	22.00	28.00	45.00	-	-	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Assets	2.1%	5,466	5,353	5,251	5,138	4,896	4,873	5,017	5,059	5,176	5,258	4,964	4,757	4,710	4,437	4,421	4,314	3,657	3,633	3,710	3,576	3,552
Cash Equivalents	-100.0%	-	19.00	-	-	-	19.00	-	-	-	15.00	-	-	-	13.00	-	-	-	6.00	-	-	-
Net PPE	-0.2%	51.00	51.00	52.00	52.00	52.00	51.00	52.00	51.00	56.00	57.00	57.00	58.00	55.00	59.00	60.00	59.00	59.00	57.00	55.00	52.00	50.00
Goodwill	0%	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00	49.00
Liabilities	2.0%	4,929	4,831	4,768	4,659	4,429	4,431	4,601	4,630	4,739	4,801	4,512	4,306	4,269	3,996	3,989	3,889	3,239	3,216	3,303	3,176	3,168
Shareholder's Equity	2.8%	537	522	483	479	467	441	416	429	436	457	452	452	441	442	432	425	418	417	407	400	384
Retained Earnings	5.8%	294	278	263	247	232	216	200	188	182	175	168	157	144	134	124	118	114	108	99.00	91.00	83.00
Shares Outstanding	0.0%	16.00	16.00	16.00	16.00	16.00	16.00	16.00	16.00	16.00	16.00	16.00	16.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	-	428	-	-	-	487	-	-	-	466	-	-	-	356	-	-	-	518	-

Cashflow (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Cashflow From Operations	651.3%	40,237	-7,299	36,445	19,402	18,065	37,069	32,796	22,109	27,888	45,404	-3,010	23,600	-1,421	21,571	28,695	-2,611	-9,778	24,634	6,216	11,472	2,445
Share Based Compensation	-15.6%	742	879	824	828	853	979	790	797	811	2,059	448	634	643	223	736	741	625	732	711	744	744
Cashflow From Investing	93.4%	-13,169	-198,881	-51,726	-88,189	-57,136	-52,003	-166,597	-185,269	-151,130	-179,071	-121,686	43,175	-237,925	53,561	-40,319	-409,755	-2,293	72,705	-42,648	-78,611	-44,284
Cashflow From Financing	12.6%	79,630	70,726	73,472	218,645	237	-172,308	-61,290	-127,939	-81,714	283,466	190,526	40,412	265,684	-3,717	94,988	646,874	15,059	-92,146	114,545	2,670	181,379
Dividend Payments	3.6%	5,534	5,342	5,330	5,168	5,164	4,995	4,978	4,817	4,812	4,644	4,660	4,584	4,636	4,494	4,474	4,470	4,492	4,362	4,342	4,204	4,200
Buy Backs	-	-	-	-	-	-	-	-	-	-	1,582	8,947	7,313	3,538	309	-	-	6,282	73.00	3,508	-	3,601

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MBWM Income Statement

2024-03-31

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income
Loans, including fees	$ 71,270	$ 57,154
Securities, taxable	2,444	2,131
Securities, tax-exempt	977	876
Interest-earning deposits	2,033	324
Total interest income	76,724	60,485
Interest expense
Deposits	22,224	7,907
Short-term borrowings	1,654	459
Federal Home Loan Bank advances	3,399	1,794
Subordinated debt and other borrowings	2,086	1,941
Total interest expense	29,363	12,101
Net interest income	47,361	48,384
Provision for credit losses	1,300	600
Net interest income after provision for credit losses	46,061	47,784
Noninterest income:
Mortgage banking income	2,343	1,216
Interest rate swap fees	1,339	1,037
Payroll services income	896	746
Earnings on bank owned life insurance	1,172	401
Other income	1,466	515
Total noninterest income	10,868	6,951
Noninterest expense
Salaries and benefits	18,237	16,682
Occupancy	2,289	2,289
Furniture and equipment depreciation, rent and maintenance	929	822
Data processing costs	3,289	3,162
Charitable foundation contributions	703	10
Other expense	4,497	5,634
Total noninterest expense	29,944	28,599
Income before federal income tax expense	26,985	26,136
Federal income tax expense	5,423	5,162
Net income	$ 21,562	$ 20,974
Basic earnings per share (in dollars per share)	$ 1.34	$ 1.31
Diluted earnings per share (in dollars per share)	$ 1.34	$ 1.31
Average basic shares outstanding (in shares)	16,118,858	15,996,138
Average diluted shares outstanding (in shares)	16,118,858	15,996,138
Service Charges on Deposit and Sweep Accounts [Member]
Noninterest income:
Noninterest revenue	$ 1,531	$ 976
Credit and Debit Card [Member]
Noninterest income:
Noninterest revenue	$ 2,121	$ 2,060

MBWM Balance Sheet

2024-03-31

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets [Abstract]
Cash and due from banks	$ 52,606	$ 70,408
Interest-earning deposits	184,625	60,125
Total cash and cash equivalents	237,231	130,533
Securities available for sale	609,153	617,092
Federal Home Loan Bank stock	21,513	21,513
Mortgage loans held for sale	14,393	18,607
Loans	4,322,006	4,303,758
Allowance for credit losses	(51,638)	(49,914)
Loans, net	4,270,368	4,253,844
Premises and equipment, net	50,835	50,928
Bank owned life insurance	85,528	85,668
Goodwill	49,473	49,473
Other Assets	127,459	125,566
Total assets	5,465,953	5,353,224
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing	1,134,995	1,247,640
Interest-bearing	2,872,815	2,653,278
Total deposits	4,007,810	3,900,918
Securities sold under agreements to repurchase	228,618	229,734
Federal Home Loan Bank advances	447,083	467,910
Subordinated debentures	49,815	49,644
Subordinated notes	89,057	88,971
Accrued interest and other liabilities	106,926	93,902
Total liabilities	4,929,309	4,831,079
Commitments and contingent liabilities (Note 8)
Shareholders' equity
Preferred stock, no par value; 1,000,000 shares authorized; none issued	0	0
Common stock, no par value; 40,000,000 shares authorized; 16,122,503 shares issued and outstanding at March 31, 2024 and 16,125,662 shares issued and outstanding at December 31, 2023	296,065	295,106
Retained earnings	293,554	277,526
Accumulated other comprehensive gain (loss)	(52,975)	(50,487)
Total shareholders’ equity	536,644	522,145
Total liabilities and shareholders’ equity	$ 5,465,953	$ 5,353,224

About Mercantile Bank Corp

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 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; and 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, it offers courier services and safe deposit facilities; 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. The company was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

CEO	Mr. Robert B. Kaminski Jr.
WEBSITE	mercbank.com
INDUSTRY	Banks Diversified
EMPLOYEES	665

Mercantile Bank Corp Frequently Asked Questions

What is the ticker symbol for Mercantile Bank Corp? What does MBWM stand for in stocks?

MBWM is the stock ticker symbol of Mercantile Bank Corp. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Mercantile Bank Corp (MBWM)?

As of Fri May 17 2024, market cap of Mercantile Bank Corp is 643.06 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of MBWM stock?

You can check MBWM's fair value in chart for subscribers.

What is the fair value of MBWM stock?

You can check MBWM's fair value in chart for subscribers. The fair value of Mercantile Bank Corp is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Mercantile Bank Corp is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for MBWM so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Mercantile Bank Corp a good stock to buy?

The fair value guage provides a quick view whether MBWM is over valued or under valued. Whether Mercantile Bank Corp is cheap or expensive depends on the assumptions which impact Mercantile Bank Corp's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for MBWM.

What is Mercantile Bank Corp's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Fri May 17 2024, MBWM's PE ratio (Price to Earnings) is 7.77 and Price to Sales (PS) ratio is 2.24. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. MBWM PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on Mercantile Bank Corp's stock?

In the past 10 years, Mercantile Bank Corp has provided 0.096 (multiply by 100 for percentage) rate of return.