Mercantile Bank (NASDAQ:MBWM) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

11 Oct 2026, 14:01 by Mitch Edgeman · The Markets Daily

Mercantile Bank Corporation (NASDAQ:MBWM – Get Free Report)’s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $56.10 and traded as high as $58.19. Mercantile Bank shares last traded at $57.78, with a volume of 132,764 shares.

Analyst Ratings Changes

MBWM has been the topic of several recent analyst reports. Hovde Group lowered Mercantile Bank from an “outperform” rating to a “market perform” rating and set a $62.00 price target on the stock. in a research report on Wednesday, July 22nd. Piper Sandler set a $65.00 price target on shares of Mercantile Bank in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price target on Mercantile Bank from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Mercantile Bank from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday. Finally, Raymond James Financial initiated coverage on shares of Mercantile Bank in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Mercantile Bank currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Read Our Latest Report on MBWM

Mercantile Bank Trading Down 0.7%

The firm has a market capitalization of $999.02 million, a P/E ratio of 10.17 and a beta of 0.83. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $60.23 and a 200-day moving average price of $56.10.

Mercantile Bank (NASDAQ:MBWM – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.21. Mercantile Bank had a net margin of 24.75% and a return on equity of 13.66%. The company had revenue of $68.76 million during the quarter, compared to the consensus estimate of $68.81 million. Analysts anticipate that Mercantile Bank Corporation will post 5.69 earnings per share for the current year.

Mercantile Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, September 4th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, September 4th. This is a positive change from Mercantile Bank’s previous quarterly dividend of $0.39. Mercantile Bank’s dividend payout ratio is presently 28.17%.

Institutional Trading of Mercantile Bank

A number of hedge funds and other institutional investors have recently modified their holdings of MBWM. BlackRock Inc. bought a new position in Mercantile Bank in the second quarter valued at about $88,105,000. North Star Asset Management Inc. bought a new stake in Mercantile Bank in the second quarter valued at about $21,672,000. Bank of New York Mellon Corp acquired a new position in shares of Mercantile Bank during the 2nd quarter worth about $5,633,000. De Lisle Partners LLP bought a new position in shares of Mercantile Bank during the second quarter worth $4,346,000. Finally, Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Mercantile Bank in the 4th quarter valued at $2,452,000. Institutional investors and hedge funds own 58.63% of the company’s stock.

About Mercantile Bank

(Get Free Report)

Mercantile Bank Corporation is a bank holding company headquartered in Grand Rapids, Michigan. Through its subsidiary, Mercantile Bank, the company provides commercial and retail banking services to businesses, professionals and individuals. The bank primarily serves communities across Michigan, with a focus on relationship-based banking and locally oriented financial services.