Mercantile Bank Corporation (MBWM)

Mercantile Bank Statistics

Total Valuation

Mercantile Bank has a market cap or net worth of $738.70 million. The enterprise value is $1.11 billion.

Market Cap	738.70M
Enterprise Value	1.11B

Important Dates

The last earnings date was Tuesday, April 22, 2025, before market open.

Earnings Date	Apr 22, 2025
Ex-Dividend Date	Jun 6, 2025

Share Statistics

Mercantile Bank has 16.24 million shares outstanding. The number of shares has increased by 0.65% in one year.

Current Share Class	16.24M
Shares Outstanding	16.24M
Shares Change (YoY)	+0.65%
Shares Change (QoQ)	+0.34%
Owned by Insiders (%)	3.18%
Owned by Institutions (%)	64.19%
Float	15.72M

Valuation Ratios

The trailing PE ratio is 9.48 and the forward PE ratio is 9.28.

PE Ratio	9.48
Forward PE	9.28
PS Ratio	3.31
Forward PS	3.01
PB Ratio	1.21
P/TBV Ratio	1.32
P/FCF Ratio	14.98
P/OCF Ratio	12.76
PEG Ratio	n/a

Enterprise Valuation

EV / Earnings	14.26
EV / Sales	4.98
EV / EBITDA	n/a
EV / EBIT	n/a
EV / FCF	22.44

Financial Position

Current Ratio	n/a
Quick Ratio	n/a
Debt / Equity	n/a
Debt / EBITDA	n/a
Debt / FCF	15.78
Interest Coverage	n/a

Financial Efficiency

Return on equity (ROE) is 13.55%.

Return on Equity (ROE)	13.55%
Return on Assets (ROA)	1.34%
Return on Invested Capital (ROIC)	n/a
Return on Capital Employed (ROCE)	n/a
Revenue Per Employee	$325,947
Profits Per Employee	$113,736
Employee Count	682
Asset Turnover	n/a
Inventory Turnover	n/a

Taxes

In the past 12 months, Mercantile Bank has paid $17.78 million in taxes.

Income Tax	17.78M
Effective Tax Rate	18.65%

Stock Price Statistics

The stock price has increased by +14.87% in the last 52 weeks. The beta is 0.89, so Mercantile Bank's price volatility has been lower than the market average.

Beta (5Y)	0.89
52-Week Price Change	+14.87%
50-Day Moving Average	43.00
200-Day Moving Average	45.24
Relative Strength Index (RSI)	66.34
Average Volume (20 Days)	51,047

Short Selling Information

The latest short interest is 143,672, so 0.88% of the outstanding shares have been sold short.

Short Interest	143,672
Short Previous Month	140,345
Short % of Shares Out	0.88%
Short % of Float	0.91%
Short Ratio (days to cover)	2.06

Income Statement

In the last 12 months, Mercantile Bank had revenue of $222.30 million and earned $77.57 million in profits. Earnings per share was $4.80.

Revenue	222.30M
Gross Profit	222.30M
Operating Income	98.85M
Pretax Income	101.70M
Net Income	77.57M
EBITDA	n/a
EBIT	n/a
Earnings Per Share (EPS)	$4.80

Balance Sheet

The company has $410.18 million in cash and $777.76 million in debt, giving a net cash position of -$367.57 million or -$22.64 per share.

Cash & Cash Equivalents	410.18M
Total Debt	777.76M
Net Cash	-367.57M
Net Cash Per Share	-$22.64
Equity (Book Value)	608.35M
Book Value Per Share	37.47
Working Capital	-4.60B

Cash Flow

In the last 12 months, operating cash flow was $57.91 million and capital expenditures -$8.61 million, giving a free cash flow of $49.30 million.

Operating Cash Flow	57.91M
Capital Expenditures	-8.61M
Free Cash Flow	49.30M
FCF Per Share	$3.04

Margins

Gross Margin	n/a
Operating Margin	44.47%
Pretax Margin	42.89%
Profit Margin	34.89%
EBITDA Margin	n/a
EBIT Margin	n/a
FCF Margin	22.18%

Dividends & Yields

This stock pays an annual dividend of $1.48, which amounts to a dividend yield of 3.25%.

Dividend Per Share	$1.48
Dividend Yield	3.25%
Dividend Growth (YoY)	5.80%
Years of Dividend Growth	5
Payout Ratio	30.83%
Buyback Yield	-0.65%
Shareholder Yield	2.60%
Earnings Yield	10.50%
FCF Yield	6.67%

Analyst Forecast

The average price target for Mercantile Bank is $52.25, which is 14.84% higher than the current price. The consensus rating is "Buy".

Price Target	$52.25
Price Target Difference	14.84%
Analyst Consensus	Buy
Analyst Count	2
Revenue Growth Forecast (5Y)	n/a
EPS Growth Forecast (5Y)	n/a

Stock Splits

The last stock split was on April 19, 2007. It was a forward split with a ratio of 1.05:1.

Last Split Date	Apr 19, 2007
Split Type	Forward
Split Ratio	1.05:1

Scores

Altman Z-Score	n/a
Piotroski F-Score	3