Published On: Wed, Oct 19th, 2016

Mercantile Bank Corporation (NASDAQ:MBWM) Latest Broker Coverage


A number of investment brokers have recently updated their price targets on shares of Mercantile Bank Corporation (NASDAQ:MBWM).

Most recent broker ratings

11/12/2015 – Mercantile Bank Corporation had its “outperform” rating reiterated by analysts at Keefe, Bruyette & Woods. They now have a USD 26 price target on the stock.

08/25/2015 – Mercantile Bank Corporation was upgraded to “outperform” by analysts at Raymond James. They now have a USD 23 price target on the stock.

07/22/2015 – Mercantile Bank Corporation had its “hold” rating reiterated by analysts at Sandler O’Neill.

01/20/2015 – Mercantile Bank Corporation was downgraded to “market perform” by analysts at FIG Partners.

09/30/2014 – Mercantile Bank Corporation was upgraded to “outperform” by analysts at Zacks. They now have a USD 24.6 price target on the stock.

05/12/2014 – Mercantile Bank Corporation had its “neutral” rating reiterated by analysts at D.A. Davidson. They now have a USD 22 price target on the stock.

11/11/2013 – Mercantile Bank Corporation was downgraded to “sell” by analysts at Thomson Reuters/Verus.

The share price of Mercantile Bank Corporation (NASDAQ:MBWM) was up +2.26% during the last day of trading, with a day high of 27.38. 34504 shares were traded during the last session.

The stock’s 50 day moving average is 27.02 and its 200 day moving average is 25.01. The stock’s market capitalization is 442.63M. Mercantile Bank Corporation has a 52-week low of 20.84 and a 52-week high of 27.99.

Mercantile Bank Corporation is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The bank, through its approximately 50 office locations, provides commercial banking services primarily to small- to medium-sized businesses and retail banking services in and around the West and Central portions of Michigan. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The Bank owns approximately 50 automated teller machines (ATM). Its bank also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. Courier service is provided to certain commercial customers, and safe deposit facilities are available at its office locations. Mercantile Insurance Center, Inc. (insurance company) is a subsidiary of the Bank, which offers insurance products.