Mercantile Bank Corporation (NASDAQ:MBWM) Receives Consensus Recommendation of “Hold” from Analysts

Posted by Brenda Bartman on Aug 6th, 2026

Mercantile Bank Corporation (NASDAQ:MBWM – Get Free Report) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $60.40.

A number of equities analysts have commented on MBWM shares. Hovde Group downgraded shares of Mercantile Bank from an “outperform” rating to a “market perform” rating and set a $62.00 target price on the stock. in a research note on Wednesday, July 22nd. Piper Sandler set a $65.00 price target on shares of Mercantile Bank in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Mercantile Bank in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods increased their price objective on Mercantile Bank from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd.

View Our Latest Report on Mercantile Bank

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MBWM. Kestra Advisory Services LLC purchased a new position in Mercantile Bank in the 4th quarter worth $26,000. Quadrant Capital Group LLC increased its stake in shares of Mercantile Bank by 63.8% in the 4th quarter. Quadrant Capital Group LLC now owns 891 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 347 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Mercantile Bank by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,682 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 387 shares in the last quarter. Aquatic Capital Management LLC raised its holdings in Mercantile Bank by 94.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,235 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,575 shares during the period. Finally, Quantbot Technologies LP boosted its position in Mercantile Bank by 251.9% during the second quarter. Quantbot Technologies LP now owns 4,370 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 3,128 shares in the last quarter. 58.63% of the stock is currently owned by hedge funds and other institutional investors.

Mercantile Bank Stock Up 0.1%

NASDAQ:MBWM opened at $61.98 on Thursday. Mercantile Bank has a twelve month low of $42.75 and a twelve month high of $62.39. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 10.91 and a beta of 0.79. The stock has a fifty day simple moving average of $56.44 and a 200-day simple moving average of $53.47. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

Mercantile Bank (NASDAQ:MBWM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.21. The firm had revenue of $68.76 million for the quarter, compared to analysts’ expectations of $68.81 million. Mercantile Bank had a net margin of 24.75% and a return on equity of 13.66%. Analysts anticipate that Mercantile Bank will post 5.7 EPS for the current year.

Mercantile Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, September 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.39. Mercantile Bank’s dividend payout ratio (DPR) is currently 28.17%.

About Mercantile Bank

(Get Free Report)

Mercantile Bank Corporation (NASDAQ: MBWM) is the bank holding company for Mercantile Bank of Michigan, a full-service commercial bank headquartered in Grand Rapids, Michigan. Through its state-chartered subsidiary, the company provides a broad range of financial products and services to small and mid-sized businesses, professionals and consumers across West and Central Michigan.

The bank’s core offerings include deposit products such as checking, savings and money market accounts, alongside commercial and consumer loan portfolios.