Mercantile Bank Corp
MBWM
NASDAQ
Banking
$60.33
USD
+1.71 (+2.92%)
At close: Jul 28, 2026, 4:00 PM EDT
Market Cap $1.01B
Volume 138.4K
About Mercantile Bank Corp
Mercantile Bank Corp. operates as a bank holding company for Mercantile Bank of Michigan. The company is headquartered in Grand Rapids, Michigan and currently employs 744 full-time employees. The firm provides commercial banking services, primarily to small- to medium-sized businesses, and retail banking services. The company also provides secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The company also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. The company offers courier service to commercial customers and safe deposit boxes. Its subsidiaries include Eastern Michigan Bank, Mercantile Bank, Mercantile Community Partners LLC, Mercantile Bank Capital Trust I, Firstbank Capital Trust I, Firstbank Capital Trust II, Firstbank Capital Trust III, and Firstbank Capital Trust IV, Mercantile Insurance Center, Inc., West Lake Associates, LLC, Eastern Michigan Real Estate Company, and Eastern Michigan Exchange Services, LLC.
CEO
Mr. Raymond Reitsma
HQ
Grand Rapids, MICHIGAN, US
Founded
1997
Employees
744
Quantli Score
8.4
Outperform
Fin. Health
8.1
Profitability
7.6
Growth
9.0
Cash-Flow Q.
8.8
Key Metrics
7 metrics our research team weighs before forming a view on MBWM.
Based on Quantli research · SEC filings · as of Q1 2026
METRIC
VALUE
CHANGE
TREND (3Y)
Revenue Growth (TTM)
4.6%
-7.7 pp
Gross Margin (TTM)
66.6%
+3.2 pp
Operating Margin (TTM)
28.1%
+1.9 pp
Net Margin (TTM)
24.2%
+2.8 pp
ROE (TTM)
12.5%
-0.3 pp
EPS Growth (TTM)
16.0%
+22.6 pp
Free Cash Flow (TTM)
$43.09M
-13.1%
Financial Snapshot
Revenue
$379.88M
+4.6%
YoY
Gross Margin
67%
TTM
+5.0%
YoY
Net Income
$91.90M
+18.5%
YoY
Operating Cash Flow
$49.26M
-14.9%
YoY
Key Statistics
Open
$59.04
Previous Close
$58.62
Day Range
$58.50 - $60.74
52 Week Range
$42.75 - $60.74
Volume
138.4K
Average Volume (10 Days)
160.0K
Market Cap
$1.01B
P/E Ratio (TTM)
10.64
P/S Ratio (TTM)
2.67
Dividend Yield
2.44%
Valuation Measurement
Market Cap
$1.01B
Trailing P/E
10.64
Price / Sales
2.67
Price / Book
1.37
Financial Highlights
Profit Margin
24.2%
Return on Assets
1.3%
Return on Equity
12.5%
Revenue (TTM)
$379.88M
Net Income (TTM)
$91.90M
Diluted EPS (TTM)
$5.58
Total Cash (MRQ)
$48.43M
Levered FCF (TTM)
$43.09M
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Analyst Consensus
Based on 1 analyst ratings
Avg Target: $60.00
(-0.6% upside)
High: $60.00 · Low: $60.00
Strong Buy
0%
Buy
0%
Hold
100%
Sell
0%
Strong Sell
0%