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MBWM stock logo

MBWM

Mercantile Bank Corporation

$58.61
0.29
 (0.5%)
Exchange:  NASDAQ
Market Cap:  1.013B
Shares Outstanding:  3.121M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Financial ServicesView sector performance
Industry:  Banks – RegionalView industry performance
   
CEO:  Raymond E. Reitsma
Full Time Employees:  765
Address: 
310 Leonard Street NW
Grand Rapids
MI
49504
US
Website:  https://www.mercbank.com
Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options. Beyond core banking, Mercantile Bank supplies additional conveniences like courier services and secure deposit boxes. It also markets a comprehensive array of insurance policies, such as coverage for private auto, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella liability, small business needs, and life insurance. The bank’s infrastructure further includes 22 automated teller machines (ATMs) and 19 video banking machines. As of January 18, 2022, the company maintained 44 branch locations. Established in 1997, Mercantile Bank Corporation’s main office is situated in Grand Rapids, Michigan.

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Revenue Segmentation

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
MBMBWM logoMBWMMercantile Bank Corporation1.0B10.210.5-2.4%
MCMCBS logoMCBSMetroCity Bankshares, Inc.1.0B11.710.817.2%
CCCCNE logoCCNECNB Financial Corporation1.0B10.69.61.0%
CFCFFN logoCFFNCapitol Federal Financial, Inc.1.0B12.911.80.9%
BFBFST logoBFSTBusiness First Bancshares, Inc.1.0B10.810.40.5%
HBHBNC logoHBNCHorizon Bancorp, Inc.999.2M—9.1-12.3%

EPS

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/07/21 — 2 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue303,501361,891371,801
Gross Profit217,988224,075238,052
EBITDA114,195108,791107,890
Operating Income102,69998,286102,093
Net Income82,21779,59388,754

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets5,353,2246,052,1616,835,219
Total Liabilities4,831,0795,475,0736,110,335
Total Stockholders Equity522,145584,526724,884
Total Debt836,259648,248825,883
Cash and Cash Equivalents130,533393,010473,324

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow66,613101,1180
Capital Expenditure-6,687-8,5300
Free Cash Flow59,92692,5880
Net Income82,21779,59388,753
Net Change in Cash33,761262,477-393,010

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)307,166Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)310,400Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)308,783Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)126,445.810Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)127,440.893Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)126,943.351Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)98,396.504Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)99,209.698Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)98,803.101Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)87,803.794Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)88,728.237Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)88,266.016Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)6.080Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)6.100Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)6.050Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)2Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
361.891M  ?P/S
 (TTM)
: 
2.6
?Net Income
 (TTM)
: 
79.593M  ?P/E
 (TTM)
: 
10.17
?Enterprise Value
 (TTM)
: 
1.616B  ?EV/FCF
 (TTM)
: 
23.69
?Dividend Yield
 (TTM)
: 
2.7%  ?Payout Ratio
 (TTM)
: 
26.69%
?ROE
 (TTM)
: 
13.25%  ?ROIC
 (TTM)
: 
-2.41%
?Net Debt
 (TTM)
: 
595.675M  ?Debt/Equity
 (TTM)
: 
0.91
?P/B
 (TTM)
: 
1.32  ?Current Ratio
 (TTM)
: 
0.22

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
10.54Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates MBWM intrinsic value between $26.36 – $54.62 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate MBWM Intrinsic Value

Common questions about MBWM valuation

Is Mercantile Bank Corporation (MBWM) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for Mercantile Bank Corporation (MBWM) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is MBWM a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether MBWM trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is MBWM’s P/E ratio?

You can see MBWM’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for MBWM?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is MBWM a good long-term investment?

Whether MBWM fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for Mercantile Bank Corporation

  • Mercantile Bank Corporation intrinsic value calculatorEstimate what the business is worth
  • Mercantile Bank Corporation 5-year outlookWhat has to go right, and what could go wrong
MBWM

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

0.5
MarketSnap

Trading Metrics:

Open: 58.66   Previous Close: 58.32
Day Low: 58.56   Day High: 59.55
Year Low: 42.88   Year High: 62.95
Price Avg 50: 59.95   Price Avg 200: 54.8
Volume: 117751   Average Volume: 126353

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See in Nexus

Relevant news

Why Mercantile Bank (MBWM) is a Top Dividend Stock for Your Portfolio
07-10-2026 12:45
Why Mercantile Bank (MBWM) is a Top Dividend Stock for Your Portfolio
Mercantile Bank Corporation Announces Third Quarter 2026 Results Conference Call and Webcast
30-09-2026 10:00
Mercantile Bank Corporation Announces Third Quarter 2026 Results Conference Call and Webcast
Mercantile Bank (MBWM) is a Top Dividend Stock Right Now: Should You Buy?
21-09-2026 12:45
Mercantile Bank (MBWM) is a Top Dividend Stock Right Now: Should You Buy?
Mercantile Bank (NASDAQ:MBWM) Hits New 1-Year High  – Still a Buy?
17-09-2026 03:41
Mercantile Bank (NASDAQ:MBWM) Hits New 1-Year High – Still a Buy?
Mercantile Bank Q2 Earnings Call Highlights
21-07-2026 14:04
Mercantile Bank Q2 Earnings Call Highlights
Mercantile Bank Corporation Announces Strong Second Quarter 2026 Results
21-07-2026 05:05
Mercantile Bank Corporation Announces Strong Second Quarter 2026 Results

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