MBWMNasdaqState Commercial BanksFiscal year ends December 31
MERCANTILE BANK CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$58.42−0.19 (-0.32%)
Close on Oct 19, 2026
- Market cap
- $1.01B
- P/E (TTM)
- 10.3
- Dividend yield
- 2.57%
Mercantile Bank statistics
Financials through Jun 30, 2026, price as of Oct 19, 2026, median of State Commercial Banks companies for comparison
Valuation
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Market Cap | $1.01B | $679.86M |
| Enterprise Value | $1.01B | $408.94M |
| PE Ratio | 10.29 | 11.99 |
| PS Ratio | 3.87 | 3.59 |
| PB Ratio | 1.34 | 1.18 |
| P/TBV Ratio | 1.52 | 1.41 |
| P/OCF Ratio | 13.96 | 10.01 |
Enterprise value
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| EV / Sales | 3.87 | 2.76 |
Income (trailing twelve months)
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Revenue | $260.81M | $170.85M |
| Pretax Income | $111.95M | $70.12M |
| Net Income | $95.21M | $54.33M |
| EPS (Diluted) | $5.68 | $2.91 |
Margins
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Pretax Margin | 42.9% | 36.5% |
| Profit Margin | 36.5% | 29.1% |
Returns
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Return on Equity (ROE) | 13.7% | 10.6% |
| Return on Assets (ROA) | 1.46% | 1.12% |
Growth
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Revenue Growth (YoY) | 11.1% | 11.8% |
| Net Income Growth (YoY) | 17.0% | 23.2% |
| EPS Growth (YoY) | 12.7% | 23.1% |
| Revenue Growth (3Y CAGR) | 8.43% | 5.82% |
| Revenue Growth (5Y CAGR) | 7.71% | 6.17% |
| EPS Growth (3Y CAGR) | 12.4% | 1.31% |
| EPS Growth (5Y CAGR) | 15.1% | 8.24% |
Balance sheet
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Equity (Book Value) | $755.12M | $563.88M |
| Book Value Per Share | $43.68 | $28.47 |
| Tangible Book Value | $664.13M | $475.36M |
Cash flow (trailing twelve months)
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Operating Cash Flow | $72.33M | $61.52M |
Efficiency
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Asset Turnover | 0.04 | 0.04 |
| Revenue Per Employee | $331.81K | $353.78K |
| Profits Per Employee | $121.13K | $107.28K |
| Employee Count | 786 | 489 |
Dividends and yields
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Earnings Yield | 9.43% | 8.13% |
| Dividend Yield | 2.57% | 2.48% |
| Shareholder Yield | 2.57% | 3.13% |
| Dividend Per Share | $1.50 | $0.93 |
| Dividend Growth (YoY) | 7.14% | 4.26% |
| Years of Dividend Growth | 6 | 2 |
| Payout Ratio | 26.7% | 29.3% |
Shares
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Shares Outstanding | 17,285,900 | 18,839,100 |
| Shares Change (YoY) | 3.57% | 0.40% |
| Shares Change (QoQ) | 0.07% | 0.00% |
| Float | 16,728,800 | 17,061,900 |
| Shares Held by Insiders | 3.22% | 5.89% |
| Shares Held by Institutions | 69.7% | 61.9% |
Taxes
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Income Tax | $16.74M | $14.50M |
| Effective Tax Rate | 15.0% | 21.1% |
Scores
| Measure | Mercantile Bank | Industry median |
|---|---|---|
| Graham Number | $74.72 | $45.31 |
| Graham Upside | 27.9% | 21.9% |
| Altman Z-Score | 0.23 | 0.21 |
| Piotroski F-Score | 3 | 6 |
Calculated by StockData from Mercantile Bank's SEC filings and the latest closing price. Hover a measure to see its formula. The grey column is the median of companies in the same industry group (two-digit SIC code); green or red marks a better or worse value than that median.