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

Posted by Brian Himes on Sep 18th, 2026

Shares of Mercantile Bank Corporation (NASDAQ:MBWM – Get Free Report) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $62.00.

Several research firms have commented on MBWM. Piper Sandler set a $65.00 price objective on shares of Mercantile Bank in a report on Wednesday, July 22nd. Hovde Group cut Mercantile Bank from an “outperform” rating to a “market perform” rating and set a $62.00 target price on the stock. in a report on Wednesday, July 22nd. Raymond James Financial began coverage on Mercantile Bank in a research note on Tuesday, September 1st. They set an “outperform” rating and a $65.00 price target for the company. Keefe, Bruyette & Woods raised their price target on Mercantile Bank from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercantile Bank in a research note on Wednesday, September 9th.

Read Our Latest Stock Analysis on MBWM

Institutional Investors Weigh In On Mercantile Bank

Several large investors have recently bought and sold shares of MBWM. Sequoia Financial Advisors LLC purchased a new stake in Mercantile Bank during the second quarter valued at $443,000. Integrated Wealth Concepts LLC bought a new stake in shares of Mercantile Bank in the 2nd quarter worth about $54,000. Arizona State Retirement System increased its holdings in shares of Mercantile Bank by 6.8% in the 2nd quarter. Arizona State Retirement System now owns 4,528 shares of the financial services provider’s stock worth $260,000 after buying an additional 287 shares during the last quarter. Old Mission Investment Co LLC purchased a new stake in shares of Mercantile Bank during the 2nd quarter valued at about $229,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Mercantile Bank during the 2nd quarter valued at about $580,000. Institutional investors own 58.63% of the company’s stock.

Mercantile Bank Price Performance

MBWM stock opened at $60.38 on Friday. Mercantile Bank has a one year low of $42.75 and a one year high of $62.95. The company’s fifty day moving average price is $60.07 and its 200-day moving average price is $55.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $1.04 billion, a PE ratio of 10.63 and a beta of 0.80.

Mercantile Bank (NASDAQ:MBWM – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.21. The company had revenue of $68.76 million during 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%. On average, equities analysts anticipate that Mercantile Bank will post 5.69 EPS for the current fiscal year.

Mercantile Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, September 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Mercantile Bank’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, September 4th. Mercantile Bank’s payout ratio is 28.17%.

About Mercantile Bank

(Get Free Report)

Mercantile Bank Corporation is a bank holding company headquartered in Grand Rapids, Michigan. Through its principal subsidiary, Mercantile Bank, the company provides banking and financial services to businesses, individuals and organizations.

The bank’s offerings include commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage loans and consumer credit. It also provides deposit accounts, treasury and cash-management services, online and mobile banking, and other financial services designed to support business and personal banking needs.

Founded in 1997, Mercantile Bank has developed a community-oriented banking model focused primarily on commercial relationships and local markets.