MBWM
Mercantile Bank Corporation
NasdaqGSUSDEQUITY
Financial Services
DELAYED
Buy
+21/100
Last price
58.83
▼ 0.26 (0.44%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
58.98
Prev close
59.09
Day high
59.60
Day low
58.79
Volume
85.28K
Market cap
$1.02B
P/E (TTM)
10.34
52W range
42.75 – 62.95
Day trading desk
Gap from prior close
-0.19%
Prior close 59.09
VWAP
59.06
-0.40% from price
Relative volume
0.56×
Quiet session
Session range
1.38%
58.79 – 59.60
Position in range
5%
Near session low
ATR (14D)
1.07
1.82% of price
Prior day high
59.82
PDH
Prior day low
58.50
PDL
Bid / ask spread
—
Quote not published
Session volume
66.22K
Avg 118.29K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-0.10%
-2.1%
1M
-5.33%
-6.5%
3M
+4.81%
+0.3%
6M
+13.07%
-5.1%
YTD
+22.31%
+8.1%
1Y
+31.05%
+14.6%
3Y
+90.33%
+8.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on MBWM open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
535.86K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| May 22, 26 | ELDRIDGE MICHELLE LARABEE Director |
STOCK | 830 | $0 | Direct |
| May 22, 26 | DAVENPORT MICHAEL S. Director |
STOCK | 753 | $0 | Direct |
| May 22, 26 | SPARKS AMY L Director |
STOCK | 906 | $0 | Direct |
| May 22, 26 | SANCHEZ NELSON F Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | MACDONALD RICHARD D Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | JONES JOSEPH D Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | WILLIAMS SHORAN R Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | SCHMIDT SARA A Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | SCHWEIHOFER STEVEN Director |
STOCK | 715 | $0 | Direct |
| May 22, 26 | RAMAKER DAVID B Director |
STOCK | 801 | $0 | Direct |
| May 22, 26 | PRICE MICHAEL H Director |
STOCK | 1.10K | $0 | Direct |
| Feb 13, 26 | CHRISTMAS CHARLES E Chief Financial Officer |
STOCK | 1.33K | $0 | Direct |
| Feb 13, 26 | REITSMA RAYMOND E Chief Executive Officer |
STOCK | 1.81K | $0 | Direct |
| Feb 5, 26 | CHRISTMAS CHARLES E Chief Financial Officer |
STOCK | 4.24K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
AUGUSTYN MARK S |
Officer | 33.02K | Stock Award(Grant) |
CHRISTMAS CHARLES E |
Chief Financial Officer | 123.50K | Stock Award(Grant) |
DICKINSON THOMAS D |
Director | 24.90K | Stock Award(Grant) |
ELDRIDGE MICHELLE LARABEE |
Director | 19.42K | Stock Award(Grant) |
HOOVER BRETT |
Officer | 19.56K | Stock Award(Grant) |
KAMINSKI ROBERT B JR. |
Director | 89.80K | Sale |
PRICE MICHAEL H |
Director | 47.74K | Stock Award(Grant) |
RANDALL TARA M |
Officer | 16.58K | Stock Award(Grant) |
REITSMA RAYMOND E |
Chief Executive Officer | 89.54K | Stock Award(Grant) |
SETLOCK SCOTT P |
Chief Operating Officer | 32.08K | Stock Award(Grant) |
Fundamentals
Market cap$1.02B
Enterprise value$1.37B
Revenue (TTM)$263.91M
Gross profit$263.91M
EBITDA—
Net income$95.21M
EPS (TTM)$5.69
Free cash flow—
Total cash$357.85M
Total debt$709.53M
Book value / share$43.68
Shares outstanding17.29M
Float16.84M
Short % of float3.53%
Dividend yield2.65%
Beta (5Y)0.84
Valuation & profitability ratios
Trailing P/E10.34
Forward P/E10.22
PEG ratio1.63
Price / sales—
Price / book1.35
EV / revenue5.19
EV / EBITDA—
Gross margin0.00%
Operating margin45.55%
Profit margin36.08%
Return on equity13.73%
Return on assets1.47%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $242.65M | $231.47M | $225.69M | $190.32M | +4.8% |
| Operating revenue | $242.65M | $231.47M | $225.69M | $190.32M | +4.8% |
| Selling, general & admin | $87.58M | $82.03M | $72.62M | $67.81M | +6.8% |
| Pre-tax income | $103.49M | $98.29M | $102.70M | $75.79M | +5.3% |
| Tax provision | $14.74M | $18.69M | $20.48M | $14.73M | -21.1% |
| Net income | $88.75M | $79.59M | $82.22M | $61.06M | +11.5% |
| Net income to common | $88.75M | $79.59M | $82.22M | $61.06M | +11.5% |
| Basic EPS | 5.47 | 4.93 | 5.13 | 3.85 | +11.0% |
| Diluted EPS | 5.47 | 4.93 | 5.13 | 3.85 | +11.0% |
| Basic shares | 16.24M | 16.13M | 16.02M | 15.86M | +0.7% |
| Diluted shares | 16.24M | 16.13M | 16.02M | 15.86M | +0.7% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $473.32M | $393.01M | $130.53M | $96.77M | +20.4% |
| Property, plant & equipment | $62.47M | $53.43M | $50.93M | $51.48M | +16.9% |
| Goodwill & intangibles | $93.04M | $49.47M | $49.47M | $49.47M | +88.1% |
| Total assets | $6.84B | $6.05B | $5.35B | $4.87B | +12.9% |
| Long-term debt | $496.89M | $526.73M | $606.52M | $445.85M | -5.7% |
| Total debt | $496.89M | $526.73M | $606.52M | $445.85M | -5.7% |
| Total liabilities | $6.11B | $5.47B | $4.83B | $4.43B | +11.8% |
| Retained earnings | $399.45M | $334.65M | $277.53M | $216.31M | +19.4% |
| Shareholder equity | $724.88M | $584.53M | $522.14M | $441.41M | +24.0% |
| Net tangible assets | $631.84M | $535.05M | $472.67M | $391.94M | +18.1% |
| Shares issued | 17.18M | 16.15M | 16.13M | 15.99M | +6.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $88.75M | $79.59M | $82.22M | $61.06M | — | +11.5% |
| Depreciation & amortisation | $5.80M | $10.51M | $11.50M | $12.95M | — | -44.8% |
| Stock-based compensation | $3.47M | $3.32M | $3.38M | $3.38M | — | +4.7% |
| Change in working capital | -$81.24M | $501.00K | -$20.27M | $25.92M | — | -16,315.0% |
| Operating cash flow | $17.97M | $101.12M | $66.61M | $119.86M | — | -82.2% |
| Capital expenditure | -$6.76M | -$8.53M | -$6.69M | -$3.02M | — | +20.7% |
| Investing cash flow | -$105.70M | -$425.44M | -$395.93M | -$555.00M | — | +75.2% |
| Share buybacks | — | — | $0 | $0 | -$21.38M | — |
| Dividends paid | -$23.95M | -$22.47M | -$21.00M | -$19.60M | — | -6.6% |
| Financing cash flow | $168.04M | $586.79M | $363.08M | -$443.25M | — | -71.4% |
| Free cash flow | $11.21M | $92.59M | $59.93M | $116.84M | — | -87.9% |
| End cash position | $473.32M | $393.01M | $130.53M | $96.77M | — | +20.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $68.76M | $67.59M | $62.07M | $62.39M | $60.94M | +1.7% |
| Operating revenue | $68.76M | $67.59M | $62.07M | $62.39M | $60.94M | +1.7% |
| Selling, general & admin | $24.61M | $23.68M | $26.21M | $21.09M | $20.71M | +3.9% |
| Pre-tax income | $31.18M | $27.28M | $26.05M | $27.44M | $25.96M | +14.3% |
| Tax provision | $5.25M | $4.60M | $3.21M | $3.68M | $3.34M | +14.3% |
| Net income | $25.93M | $22.68M | $22.84M | $23.76M | $22.62M | +14.3% |
| Net income to common | $25.93M | $22.68M | $22.84M | $23.76M | $22.62M | +14.3% |
| Basic EPS | 1.50 | 1.32 | 1.40 | 1.46 | 1.39 | +13.6% |
| Diluted EPS | 1.50 | 1.32 | 1.40 | 1.46 | 1.39 | +13.6% |
| Basic shares | 17.28M | 17.24M | 16.26M | 16.25M | 16.24M | +0.2% |
| Diluted shares | 17.28M | 17.24M | 16.26M | 16.25M | 16.24M | +0.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $340.93M | $579.30M | $473.32M | $477.02M | $296.07M | — | -41.1% |
| Property, plant & equipment | $60.73M | $61.86M | $62.47M | $56.16M | $54.79M | — | -1.8% |
| Goodwill & intangibles | $91.00M | $91.86M | $93.04M | $49.47M | $49.47M | — | -0.9% |
| Total assets | $6.82B | $6.95B | $6.84B | $6.31B | $6.18B | — | -1.8% |
| Current debt | $100.94M | $90.94M | — | $80.90M | $90.90M | $60.00M | +11.0% |
| Long-term debt | $370.57M | $392.81M | $496.89M | $405.74M | $405.48M | — | -5.7% |
| Total debt | $471.51M | $483.75M | $496.89M | $486.64M | $496.38M | — | -2.5% |
| Total liabilities | $6.06B | $6.21B | $6.11B | $5.65B | $5.55B | — | -2.3% |
| Retained earnings | $434.79M | $415.50M | $399.45M | $382.68M | $364.99M | — | +4.6% |
| Shareholder equity | $755.12M | $736.95M | $724.88M | $657.63M | $631.52M | — | +2.5% |
| Net tangible assets | $664.13M | $645.09M | $631.84M | $608.16M | $582.05M | — | +3.0% |
| Shares issued | 17.29M | 17.27M | 17.18M | 16.25M | 16.25M | — | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $25.93M | $22.68M | $22.84M | $23.76M | $22.62M | +14.3% |
| Depreciation & amortisation | $1.18M | $1.70M | $1.39M | $1.34M | $1.42M | -30.6% |
| Stock-based compensation | $1.02M | $971.00K | $821.00K | $929.00K | $937.00K | +5.3% |
| Change in working capital | -$981.00K | $10.10M | -$19.66M | -$12.36M | -$21.96M | -109.7% |
| Operating cash flow | $15.27M | $28.31M | $5.65M | $23.11M | -$7.80M | -46.1% |
| Capital expenditure | -$328.00K | -$938.00K | -$227.00K | -$2.64M | -$2.36M | +65.0% |
| Investing cash flow | -$109.47M | -$24.74M | $7.96M | $63.63M | -$95.26M | -342.5% |
| Dividends paid | -$6.64M | -$6.63M | -$6.07M | -$6.07M | -$5.91M | -0.1% |
| Financing cash flow | -$144.17M | $102.41M | -$17.30M | $94.22M | $13.68M | -240.8% |
| Free cash flow | $14.94M | $27.37M | $5.42M | $20.47M | -$10.17M | -45.4% |
| End cash position | $340.93M | $579.30M | $473.32M | $477.02M | $296.07M | -41.1% |
Options analytics
Put / call volume
0.00
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
60.00
+2.0% from spot
ATM implied vol
3.1%
Nearest strike to spot
Skew (10% OTM)
-3.1%
Calls bid over puts
Call volume
1
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
60.00
0 contracts
Heaviest put OI
60.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 1.33 | 1.53 | +14.9% |
| Mar 2026 | 1.31 | 1.46 | +11.3% |
| Dec 2025 | 1.37 | 1.40 | +2.5% |
| Sep 2025 | 1.38 | 1.46 | +5.9% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.35 | 6 | $70.91M | +13.7% |
| Next quarter | 1.37 | 6 | $71.73M | +15.6% |
| Current year | 5.68 | 6 | $278.99M | +15.0% |
| Next year | 5.76 | 6 | $296.19M | +6.2% |
Analyst targets & ownership
Mean target$63.17
High target$65.00
Low target$60.00
Implied upside7.37%
Analyst count6
ConsensusHOLD
Strong buy / Buy2 / 0
Hold4
Sell / Strong sell0 / 0
Held by insiders3.10%
Held by institutions71.01%
Institutions holding297
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
59.11
-0.48% from price
SMA 20
59.87
-1.73% from price
SMA 50
60.32
-2.48% from price
SMA 100
57.67
+2.01% from price
SMA 200
54.49
+7.96% from price
EMA 12
59.31
-0.81% from price
EMA 26
59.68
-1.43% from price
EMA 50
59.43
-1.01% from price
RSI (14)
43.9
Neutral
MACD (12,26,9)
-0.37
Hist -0.11
ATR (14)
1.07
1.82% of price
Realised vol 30D
17.9%
Annualised
Bollinger upper
61.91
20, 2σ
Bollinger lower
57.83
20, 2σ
50 / 200 cross
Golden
60.32 vs 54.49
Trend bias
Above 200
+7.96%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.48
Less volatile than market
Correlation to SPY
0.26
Largely independent
Realised vol 30D
17.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-11.5%
Peak to trough
Max drawdown 5Y
-38.9%
Peak to trough
ATR 14
1.07
1.82% of price
Beta (reported)
0.84
5Y monthly, from filing
Short interest
Shares short
595.57K
Prior 444.39K
Change vs prior
+34.0%
Shorts adding
% of float
3.53%
Normal
% of shares out
3.45%
Against total outstanding
Days to cover
6.0
Crowded exit
Float
16.84M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 22, 26 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Jul 22, 26 | Hovde Group | DOWNGRADE | Outperform | Market Perform |
| Jun 26, 26 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jan 21, 26 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Jan 7, 26 | Raymond James | MAINTAINED | Outperform | Outperform |
| Oct 22, 25 | Raymond James | MAINTAINED | Outperform | Outperform |
| Jul 24, 25 | Raymond James | UPGRADE | Market Perform | Outperform |
| Jul 23, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jul 23, 25 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Apr 23, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jan 22, 25 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Dec 4, 24 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
Dividends & splits
Forward rate$1.56 / yr
Forward yield2.65%
5-year avg yield3.35%
Payout ratio27.07%
Ex-dividend dateSep 4, 2026
Next pay dateSep 16, 2026
Last split105:100
Split dateApr 19, 2007
SEC filings
Offering Registrations
S-3ASR · 2026-09-29
Corporate Changes & Voting Matters
8-K · 2026-09-25
Periodic Financial Reports
10-Q · 2026-07-31
Annual report of employee stock purchase
11-K · 2026-05-27
Corporate Changes & Voting Matters
8-K · 2026-05-21
Periodic Financial Reports
10-Q · 2026-05-01
Corporate Changes & Voting Matters
8-K · 2026-04-21
Annual Report to Shareholders
ARS · 2026-04-02
Headlines
Mercantile Bank Corporation Announces Third Quarter 2026 Results Conference Call and Webcast
PR Newswire · 7d ago
MERCANTILE BANK HELPS DELIVER $150,000 FOR AFFORDABLE HOUSING INITIATIVES ACROSS MICHIGAN
PR Newswire · 13d ago
Mercantile Bank (MBWM) is a Top Dividend Stock Right Now: Should You Buy?
Zacks · 16d ago
Earnings Beat And Higher Dividend Could Be A Game Changer For Mercantile Bank (MBWM)
Simply Wall St. · 68d ago
Mercantile Bank Corporation Q2 2026 Earnings Call Summary
Moby · 77d ago
Hovde Group Downgrades Mercantile Bank to Market Perform From Outperform, Price Target is $62
MT Newswires · 77d ago
Mercantile Bank (MBWM) Looks Fully Valued Following Stronger 2026 Earnings
Simply Wall St. · 77d ago
Mercantile Bank Corp (MBWM) Q2 2026 Earnings Call Highlights: Strong Financial Performance and ...
GuruFocus.com · 77d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.