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Financial Services - Banks - Regional - NASDAQ - US
$ 41.67
-1.03 %
$ 677 M
Market Cap
8.17
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 22, 2025.

The intrinsic value of one MBWM stock under the worst case scenario is HIDDEN Compared to the current market price of 41.7 USD, Mercantile Bank Corporation is HIDDEN

This DCF valuation model was last updated on Apr, 22, 2025.

The intrinsic value of one MBWM stock under the base case scenario is HIDDEN Compared to the current market price of 41.7 USD, Mercantile Bank Corporation is HIDDEN

This DCF valuation model was last updated on Apr, 22, 2025.

The intrinsic value of one MBWM stock under the best case scenario is HIDDEN Compared to the current market price of 41.7 USD, Mercantile Bank Corporation is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart MBWM

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$52.0$52.0$50.0$50.0$48.0$48.0$46.0$46.0$44.0$44.0$42.0$42.0$40.0$40.0$38.0$38.0Nov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 Apr
FINANCIALS
322 M REVENUE
47.49%
320 M OPERATING INCOME
211.49%
79.6 M NET INCOME
-3.19%
20.1 M OPERATING CASH FLOW
-69.88%
-425 M INVESTING CASH FLOW
-7.45%
-21.6 M FINANCING CASH FLOW
-5.95%
58.5 M REVENUE
-29.83%
0 OPERATING INCOME
0.00%
19.6 M NET INCOME
0.04%
59.9 M OPERATING CASH FLOW
1476.68%
-103 M INVESTING CASH FLOW
34.67%
108 M FINANCING CASH FLOW
-63.27%
Balance Sheet Mercantile Bank Corporation
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Current Assets 60.2 M
Cash & Short-Term Investments 60.2 M
Receivables 0
Other Current Assets 0
Non-Current Assets 780 M
Long-Term Investments 730 M
PP&E 0
Other Non-Current Assets 49.5 M
7.17 %86.94 %5.89 %Total Assets$840.0m
Current Liabilities 225 M
Accounts Payable 0
Short-Term Debt 225 M
Other Current Liabilities 0
Non-Current Liabilities 3.63 B
Long-Term Debt 0
Other Non-Current Liabilities 3.63 B
5.84 %94.16 %Total Liabilities$3.9b
EFFICIENCY
Earnings Waterfall Mercantile Bank Corporation
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Revenue 322 M
Cost Of Revenue 0
Gross Profit 322 M
Operating Expenses 1.6 M
Operating Income 320 M
Other Expenses 240 M
Net Income 79.6 M
350m350m300m300m250m250m200m200m150m150m100m100m50m50m00322m0322m(2m)320m(240m)80mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
100.00% GROSS MARGIN
100.00%
99.50% OPERATING MARGIN
99.50%
24.76% NET MARGIN
24.76%
5.32% ROE
5.32%
1.49% ROA
1.49%
30.84% ROIC
30.84%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Mercantile Bank Corporation
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120m120m100m100m80m80m60m60m40m40m20m20m0020162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 79.6 M
Depreciation & Amortization 10.5 M
Capital Expenditures 0
Stock-Based Compensation 3.32 M
Change in Working Capital 501 K
Others -62.4 M
Free Cash Flow 20.1 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Mercantile Bank Corporation
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MBWM has no price targets from Wall Street.
4. DIVIDEND ANALYSIS
0.79% DIVIDEND YIELD
0.37 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
1.801.801.601.601.401.401.201.201.001.000.800.800.600.600.400.400.200.200.000.000.140.160.180.220.260.280.290.310.330.350.370.140.160.180.220.260.280.290.310.330.350.150.170.190.240.270.280.30.320.340.360.150.580.671.160.190.7411.680.271.060.281.120.31.180.321.260.341.340.361.420.372015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
6. Ownership
Insider Ownership Mercantile Bank Corporation
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Sold
0-3 MONTHS
448 K USD 3
3-6 MONTHS
830 K USD 1
6-9 MONTHS
261 K USD 2
9-12 MONTHS
488 K USD 2
Bought
96.3 K USD 3
0-3 MONTHS
5 K USD 1
3-6 MONTHS
0 USD 0
6-9 MONTHS
20 K USD 1
9-12 MONTHS
7. News
Mercantile Bank Corporation (MBWM) Q1 2025 Earnings Call Transcript Mercantile Bank Corporation (NASDAQ:MBWM ) Q1 2025 Earnings Conference Call April 22, 2025 10:00 AM ET Company Participants Ray Reitsma - President & CEO Chuck Christmas - EVP & CFO Nichole Kladder - CMO Conference Call Participants Brendan Nosal - Hovde Group Daniel Tamayo - Raymond James Damon DelMonte - KBW Adam Kroll - Piper Sandler Operator Good morning, and welcome to the Mercantile Bank Corporation 2025 first quarter earnings results conference call. [Operator instructions]. seekingalpha.com - 1 week ago
Mercantile Bank (MBWM) Reports Q1 Earnings: What Key Metrics Have to Say While the top- and bottom-line numbers for Mercantile Bank (MBWM) give a sense of how the business performed in the quarter ended March 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values. zacks.com - 1 week ago
Mercantile Bank (MBWM) Tops Q1 Earnings Estimates Mercantile Bank (MBWM) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.34 per share a year ago. zacks.com - 1 week ago
Mercantile Bank Corporation Announces Strong First Quarter 2025 Results Growth in net interest income, notable increases in certain noninterest income categories, sustained strength in asset quality metrics, and continuing solid capital position highlight the quarter GRAND RAPIDS, Mich. , April 22, 2025 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $19.5 million, or $1.21 per diluted share, for the first quarter of 2025, compared with net income of $21.6 million, or $1.34 per diluted share, for the first quarter of 2024. prnewswire.com - 1 week ago
Mercantile Bank Corporation Declares Regular Cash Dividend Board declares $0.37 regular quarterly cash dividend on common stock, resulting in a current annual yield of approximately 3.6 percent  GRAND RAPIDS, Mich. , April 22, 2025 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on April 17, 2025, its Board of Directors declared a regular quarterly cash dividend of $0.37 per common share, payable on June 18, 2025, to holders of record as of June 6, 2025. prnewswire.com - 1 week ago
Mercantile Bank Corporation Announces First Quarter 2025 Results Conference Call and Webcast GRAND RAPIDS, Mich. , March 31, 2025 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m. prnewswire.com - 1 month ago
31 Upcoming Dividend Increases, Including 3 Kings This week sees 31 dividend increases, including three Dividend Kings: Genuine Parts, Commerce Bancshares, and Kimberly-Clark, showcasing impressive financial stability and growth. My investment strategy prioritizes companies with consistently rising dividends and outperforming benchmarks, aiming for long-term wealth accumulation and portfolio prosperity. I use data from the "U.S. Dividend Champions" spreadsheet and NASDAQ to identify companies with at least five years of dividend growth. seekingalpha.com - 2 months ago
Mercantile Bank Corporation (MBWM) Q4 2024 Earnings Call Transcript Mercantile Bank Corporation (NASDAQ:MBWM ) Q4 2024 Earnings Conference Call January 21, 2025 10:00 AM ET Company Participants Nichole Kladder - First Vice President and Chief Marketing Officer Raymond Reitsma - President and Chief Executive Officer Charles Christmas - Executive Vice President and Chief Financial Officer Conference Call Participants Daniel Tamayo - Raymond James Nathan Race - Piper Sandler Damon DelMonte - KBW Operator Good morning and welcome to the Mercantile Bank Corporation 2024 Fourth Quarter Earnings Conference Call. All participants will be in listen-only mode. seekingalpha.com - 3 months ago
Compared to Estimates, Mercantile Bank (MBWM) Q4 Earnings: A Look at Key Metrics While the top- and bottom-line numbers for Mercantile Bank (MBWM) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values. zacks.com - 3 months ago
Mercantile Bank (MBWM) Q4 Earnings and Revenues Beat Estimates Mercantile Bank (MBWM) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.25 per share a year ago. zacks.com - 3 months ago
Mercantile Bank Corporation Announces Robust Fourth Quarter and Full-Year 2024 Results Strong commercial loan and local deposit growth, notable increase in noninterest income, and ongoing strength in asset quality metrics highlight the year GRAND RAPIDS, Mich. , Jan. 21, 2025 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the fourth quarter of 2024, compared with net income of $20.0 million, or $1.25 per diluted share, for the respective prior-year period. prnewswire.com - 3 months ago
Mercantile Bank Corporation Increases Regular Cash Dividend Board declares $0.37 regular quarterly cash dividend on common stock, resulting in a current annual yield of approximately 3.4 percent GRAND RAPIDS, Mich. , Jan. 21, 2025 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on January 16, 2025, its Board of Directors declared a regular quarterly cash dividend of $0.37 per common share, payable on March 19, 2025, to holders of record as of March 7, 2025. prnewswire.com - 3 months ago
8. Profile Summary

Mercantile Bank Corporation MBWM

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COUNTRY US
INDUSTRY Banks - Regional
MARKET CAP $ 677 M
Dividend Yield 0.79%
Description 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 offers 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 provides 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, as well as owns 22 automated teller machines and 19 video banking machines. As of January 18, 2022, the company operated 44 banking offices. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.
Contact 310 Leonard Street NW, Grand Rapids, MI, 49504 https://www.mercbank.com
IPO Date July 20, 1999
Employees 648
Officers Mr. Brett E. Hoover Executive Vice President & Chief Human Resource Officer Mr. Jeff Kaiser Senior Vice President & Head of Risk Management Department Mr. Scott P. Setlock Executive Vice President, Chief Operating Officer & Secretary Mr. Mark S. Augustyn Executive Vice President & Chief Commercial Banking Officer of the Bank Mr. Raymond E. Reitsma President, Chief Executive Officer & Director Mr. Douglas J. Holtrop Executive Vice President & Senior Lending Officer of Mercantile Bank Sonali D. Allen Senior Vice President and Chief Compliance & Community Development Officer of Mercantile Bank Mr. Justin M. Karl Executive Vice President & Senior Lending Officer of Mercantile Bank Mr. Charles E. Christmas Executive Vice President, Chief Financial Officer & Treasurer Mr. Douglas J. Ouellette Senior Vice President & Chief Community Banking Officer of Mercantile Bank