Zacks Investment Research·Oct 26, 2026
Mercantile Bank (MBWM) Upgraded to Buy: Here's WhyMercantile Bank (MBWM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Mercantile Bank Corporation's NII climbed to $60.9M in 2026Q3, up 17.1% year over year, and provision expense has fallen from $3.5M in 2024Q2 to $0.7M, suggesting the earnings base is strengthening.
Price trend, volume and key moving averages
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 20, 2026 | $1.42+5.2% vs $1.35 | $73M+3.3% vs $71M |
Q3 2026 Jul 21, 2026 | $1.53+15.9% vs $1.32 | $69M-0.1% vs $69M |
Q2 2026 Apr 21, 2026 | $1.32+4.8% vs $1.26 | $68M+0.3% vs $67M |
Q1 2026 Jan 20, 2026 | $1.40+2.2% vs $1.37 | $62M+0.2% vs $62M |
Mercantile Bank (MBWM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Net interest margin expanded to 3.7% in the third quarter. Commercial loans grew 9% from the prior year-end.
Mercantile Bank Corporation ( MBWM ) Q3 2026 Earnings Call October 20, 2026 10:00 AM EDT Company Participants Nichole Kladder - Chief Marketing Officer Raymond Reitsma - President, CEO & Director Charles Christmas - Executive VP, CFO & Treasurer Conference Call Participants Nathan Race - Piper Sandler & Co., Research Division Brendan Nosal - Hovde Group, LLC, Research Division Damon Del Monte - Keefe, Bruyette, & Woods, Inc., Research Division Matthew Breese - Stephens Inc., Research Division Nicholas Holowko - Raymond James & Associates, Inc., Research Division Presentation Operator Good morning, and welcome to the Mercantile Bank Corporation 2026 Third Quarter Earnings Results Conference Call. [Operator Instructions] Please note, this event is being recorded.
Mercantile Bank NASDAQ: MBWM reported third-quarter 2026 net income of $24.1 million, or $1.39 per diluted share, compared with $23.8 million, or $1.46 per diluted share, in the third quarter of 2025. For the first nine months of 2026, net income rose to $72.7 million, or $4.21 per diluted share, from $65.9 million, or $4.06 per diluted share, a year earlier.
Benchmark MBWM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Mercantile Bank Corporation (MBWM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $60.57 | $1.05B | 10.96 | 4.83% | 35.25% | 12.91% | 2.43% | |
| $36.31 | $748.21M | 11.25 | 4.57% | 29.92% | 13.61% | 2.85% | |
| $23.38 | $225.48M | 16.12 | -9.39% | 28.36% | 7.64% | 1.59% | |
| $40.47 | $1.12B | 11.90 | 9.64% | 27.31% | 9.94% | 2.18% | |
| $53.04 | $48.07B | 18.98 | 8.37% | 21.86% | 8.3% | 3.28% | |
| $15.47 | $31.26B | 12.72 | 10.58% | 24% | 8.17% | 3.9% |
Mercantile Bank Corporation (MBWM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Mercantile Bank Corporation (MBWM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 20, 2026·SEC
Jul 21, 2026·SEC
May 21, 2026·SEC
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Mercantile Bank Corporation (MBWM) stock FAQ — growth, dividends, profitability & financials explained
Mercantile Bank Corporation (MBWM) grew revenue by 13.3% over the trailing twelve months, compared with the twelve months before.
Yes. Mercantile Bank Corporation (MBWM) earned $95.5M in net income over the trailing twelve months (a 35.2% net margin).
Yes. Mercantile Bank Corporation (MBWM) pays a dividend that yields 2.43% at the current price, a moderate yield.
Mercantile Bank Corporation (MBWM) had a return on equity (ROE) of 12.9% over the trailing twelve months. That is in line with the market's typical 10-15%.
Mercantile Bank Corporation (MBWM) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.
Mercantile Bank Corporation (MBWM) has an efficiency ratio of 56.0%. This is reasonable for a bank.
