Mercantile Bank Corporation (MBWM) Stock

Mercantile Bank Corporation (MBWM) is a Financials stock trading at $53.74 (as of 2026-06-18), with a market capitalization of $915.37M and a trailing P/E of 9.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Mercantile Bank Corporation (MBWM) is a bank holding company for Mercantile Bank of Michigan, providing commercial and retail banking services, including deposit products, commercial and consumer lending, and related banking services such as courier services and safe deposit facilities. It also offers insurance products and operates automated teller machines and video banking machines.

Valuation — source: SEC EDGAR (first-party)

Price	$53.74
Market Cap	$915.37M
P/E Ratio	9.6
EV / EBITDA	8.3
Price / Book	1.26
Price / Sales	2.77
Dividend Yield	2.7%
DCF Value (model)	$14.45
DCF Upside vs Price	-73.1%

Profitability & Growth — source: SEC EDGAR

Revenue (TTM)	$330.19M
Net Margin	26.9%
Return on Equity	12.5%
Revenue Growth (YoY)	6.3%
EPS Growth (YoY)	9.1%

Valuation vs Sector & Industry

Stock P/E	9.6
Sector P/E (Financials)	14.2
Industry P/E (Banking)	12.4
vs Sector	-32.3%
vs Industry	-22.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures

Top Institutional Holder	BlackRock, Inc. ($70.13M)
Institutional Holders Tracked	10

Company

Sector	Financials
Industry	Banking
CEO	Raymond E. Reitsma
Employees	662
Country	US
IPO Date	1999-07-20

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

• Horizon Bancorp, Inc. (HBNC)
• Capitol Federal Financial, Inc. (CFFN)
• Equity Bancshares, Inc. (EQBK)
• Central Pacific Financial Corp. (CPF)
• HBT Financial, Inc. (HBT)
• Amerant Bancorp Inc. (AMTB)
• Hanmi Financial Corporation (HAFC)
• Heritage Financial Corporation (HFWA)

Data as of 2026-06-18.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.