Mercantile Bank Corp. (MBWM)
Nasdaq · State Commercial Banks · Finance, insurance and real estate · CIK 1042729 · fiscal year ends in Dec
Closing price $60.64 on 29 Oct 2026; 52-week range $43.28 to $62.14.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $260.8M
- Revenue growth
- 11.1%
- Net income, last twelve months
- $95.2M
- Earnings per share
- $5.68
- Net margin
- 36.5%
- Free cash flow
- $68.2M
- Return on equity
- 12.6%
- Market value
- $1.0B
- Price to earnings
- 10.7x
- Dividend yield
- 2.5%
- Cash
- $340.9M
- Debt
- $689.0M
- Debt to equity
- 0.91
- Shares outstanding
- 17.3M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $242.7M | – | $88.8M | $5.47 | $11.2M | 10-K filed 27 Feb 2026 |
| FY2024 | 31 Dec 2024 | $231.5M | – | $79.6M | $4.93 | $92.6M | 10-K filed 3 Mar 2025 |
| FY2023 | 31 Dec 2023 | $225.7M | – | $82.2M | $5.13 | $59.9M | 10-K filed 1 Mar 2024 |
| FY2022 | 31 Dec 2022 | $190.3M | – | $61.1M | $3.85 | $116.8M | 10-K filed 3 Mar 2023 |
| FY2021 | 31 Dec 2021 | $180.3M | – | $59.0M | $3.69 | $59.0M | 10-K filed 4 Mar 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $68.8M | $25.9M | $1.50 |
| Q1 FY2026 | 31 Mar 2026 | $67.6M | $22.7M | $1.32 |
| Q4 FY2025 | 31 Dec 2025 | $62.1M | $22.8M | $1.40 |
| Q3 FY2025 | 30 Sep 2025 | $62.4M | $23.8M | $1.46 |
| Q2 FY2025 | 30 Jun 2025 | $60.9M | $22.6M | $1.39 |
| Q1 FY2025 | 31 Mar 2025 | $57.3M | $19.5M | $1.21 |
| Q4 FY2024 | 31 Dec 2024 | $58.5M | $19.6M | $1.22 |
| Q3 FY2024 | 30 Sep 2024 | $58.0M | $19.6M | $1.22 |
Company events
The newest 8-K filings of 216 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 20 Oct 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 25 Sep 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 21 Jul 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 21 May 2026 | 8-K | Shareholder vote | 5.07, 9.01 |
| 21 Apr 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 19 Mar 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 20 Jan 2026 | 8-K/A | Results, Investor update | 2.02, 7.01, 9.01 |
| 20 Jan 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 31 Dec 2025 | 8-K | Leadership change, Material agreement, New debt, Shareholder rights change, Other events | 1.01, 2.03, 3.03, 5.02, 8.01, 9.01 |
| 19 Dec 2025 | 8-K | Other events | 8.01 |
| 17 Dec 2025 | 8-K | Other events | 8.01, 9.01 |
| 21 Oct 2025 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
Every filing
The newest filings with the SEC of 495 held.
| Filed | Form | Period |
|---|---|---|
| 20 Oct 2026 | 8-K | 20 Oct 2026 |
| 29 Sep 2026 | S-3ASR | – |
| 25 Sep 2026 | 8-K | 25 Sep 2026 |
| 31 Jul 2026 | 10-Q | 30 Jun 2026 |
| 21 Jul 2026 | 8-K | 21 Jul 2026 |
| 27 May 2026 | 11-K | 31 Dec 2025 |
| 21 May 2026 | 8-K | 21 May 2026 |
| 1 May 2026 | 10-Q | 31 Mar 2026 |
| 21 Apr 2026 | 8-K | 21 Apr 2026 |
| 2 Apr 2026 | ARS | 31 Dec 2025 |
| 2 Apr 2026 | DEF 14A | 21 May 2026 |
| 19 Mar 2026 | 8-K | 19 Mar 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 13 Nov 2025 | Price Michael H, Director | Sale outside a trading plan | 3,160 | $45.85 | $144.9K | 13,315 | 17 Nov 2025 |
| 13 Nov 2025 | Price Michael H, Director | Sale outside a trading plan | 1,417 | $45.81 | $64.9K | 11,898 | 17 Nov 2025 |
| 31 Oct 2025 | Sanchez Nelson F, Director | Purchase | 1,000 | $43.50 | $43.5K | 3,502 | 4 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 15 May 2026 | Wellington Management Group LLP | 13G | 6.9% | 1.2M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 21 Jan 2026 | Dimensional Fund Advisors LP | 13G amended | 6% | 1.0M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 561.5K | -10.36% | 5.14 |
| 30 Sep 2026 | 626.4K | +5.18% | 5.53 |
| 15 Sep 2026 | 595.6K | +14.66% | 5.22 |
| 31 Aug 2026 | 519.4K | +16.89% | 6.19 |
| 14 Aug 2026 | 444.4K | +12.04% | 3.51 |
| 31 Jul 2026 | 396.6K | -6.87% | 2.54 |
| 15 Jul 2026 | 425.9K | -6.89% | 4.1 |
| 30 Jun 2026 | 457.4K | +27.75% | 2.64 |
Funds that hold it
From each fund's latest Form 13F.
228 funds held it at 30 Jun 2026: 101 added and 61 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 1,534,392 | $88.1M | +145,678 |
| Wellington Management Group LLP | 1,087,998 | $62.5M | -101,033 |
| Dimensional Fund Advisors LP | 1,046,841 | $60.1M | +13,953 |
| Vanguard Capital Management LLC | 735,613 | $42.2M | +31,289 |
| American Century Companies Inc. | 625,015 | $35.9M | +63,548 |
| State Street Corp. | 598,641 | $34.4M | +96,173 |
| Geode Capital Management, LLC | 466,410 | $26.8M | +31,398 |
| Renaissance Technologies LLC | 446,613 | $25.6M | -25,600 |
| North Star Asset Management Inc. | 377,427 | $21.7M | -5,753 |
| Vanguard Portfolio Management LLC | 290,093 | $16.7M | +14,772 |
Peers
Companies in the same industry.
- Bank of Nova Scotia (BNS): revenue $27.0B, market value $118.0B
- Bank of New York Mellon Corp. (BNY): revenue $21.4B, market value $101.3B
- Itaú Unibanco Holding S.A. (ITUB): revenue $30.1B, market value $81.3B
- Fifth Third Bancorp (FITB): revenue $10.7B, market value $49.4B
- State Street Corp. (STT): revenue $15.5B, market value $47.4B
- M&T Bank Corp. (MTB): revenue $10.0B, market value $32.4B
- Northern Trust Corp. (NTRS): revenue $9.3B, market value $31.3B
- Banco Bradesco S.A. (BBD): revenue –, market value $27.8B
- Citizens Financial Group Inc. (CFG): revenue $8.9B, market value $27.7B
- First Citizens Bancshares Inc. (FCNCA): revenue $9.6B, market value $27.5B