Mercantile Bank Corporation Common Stock (MBWM)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Here is a small, plain-vanilla regional bank: 827 employees, about $1.0B in market value, lending to small and midsized businesses and individuals. That can be a decent niche, because local relationships and underwriting discipline are the moat—though a narrow one. The numbers are steady rather than spectacular. In fiscal Q2 2026, the quarter ended 2026-06-30, Mercantile reported net income of $25.9M and diluted EPS of $1.50, up from $22.6M and $1.39 in fiscal Q2 2025, the quarter ended 2025-06-30. For full fiscal 2025, ended 2025-12-31, net income was $88.8M and diluted EPS $5.47, versus $79.6M and $4.93 in fiscal 2024 and $82.2M and $5.13 in fiscal 2023. That is respectable consistency, with a dip in fiscal 2024 and recovery in fiscal 2025. FairStock's calculations show a P/E of 10.20 and P/B of 1.33 at the $58.03 close on 2026-10-13, with ROE of 13.73% and a 2.69% dividend yield. PEG of 0.70 and the STALWART label—steady 15% annual profit growth over five years—suggest growth has not been paid for dearly. But Piotroski F-Score of 5/9 is middling, and the balance-sheet data is limited: D/E is N/A, and bank-specific measures like CET1, net interest margin, and credit costs/combined ratio are not in the data. At 1.33 times book, I want high-quality underwriting and stable returns; 13.73% ROE is adequate, not exceptional. Price is reasonable, but not so cheap that I would ignore credit risk or the stock sitting near the top of its 52-week range of $42.75-$62.95.

In plain English: Mercantile Bank is a small regional bank that serves businesses and individuals, mainly by taking deposits and making loans. Its recent profits are steady and its profitability is respectable, but this is not a fast-growth business. The stock trades near the higher end of its yearly range, and based on its profits and assets, the price looks reasonable rather than clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer