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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 1.25
MBWM's Cash to Debt is ranked lower than
51% of the 983 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.38 vs. MBWM: 1.25 )
Ranked among companies with meaningful Cash to Debt only.
MBWM' s 10-Year Cash to Debt Range
Min: 0.05  Med: 0.35 Max: 1.78
Current: 1.25
0.05
1.78
Equity to Asset 0.11
MBWM's Equity to Asset is ranked higher than
61% of the 1353 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. MBWM: 0.11 )
Ranked among companies with meaningful Equity to Asset only.
MBWM' s 10-Year Equity to Asset Range
Min: 0.06  Med: 0.09 Max: 0.12
Current: 0.11
0.06
0.12
Interest Coverage 1.69
MBWM's Interest Coverage is ranked higher than
51% of the 1269 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.61 vs. MBWM: 1.69 )
Ranked among companies with meaningful Interest Coverage only.
MBWM' s 10-Year Interest Coverage Range
Min: 0.14  Med: 0.51 Max: 2.33
Current: 1.69
0.14
2.33
F-Score: 3
WACC vs ROIC
7.49%
6.97%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating margin (%) 26.50
MBWM's Operating margin (%) is ranked lower than
60% of the 1421 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.31 vs. MBWM: 26.50 )
Ranked among companies with meaningful Operating margin (%) only.
MBWM' s 10-Year Operating margin (%) Range
Min: -100.52  Med: 30.43 Max: 46.25
Current: 26.5
-100.52
46.25
Net-margin (%) 22.13
MBWM's Net-margin (%) is ranked higher than
50% of the 1421 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 22.02 vs. MBWM: 22.13 )
Ranked among companies with meaningful Net-margin (%) only.
MBWM' s 10-Year Net-margin (%) Range
Min: -88.45  Med: 22.92 Max: 64.06
Current: 22.13
-88.45
64.06
ROE (%) 7.82
MBWM's ROE (%) is ranked lower than
55% of the 1423 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.48 vs. MBWM: 7.82 )
Ranked among companies with meaningful ROE (%) only.
MBWM' s 10-Year ROE (%) Range
Min: -33.64  Med: 9.01 Max: 24.85
Current: 7.82
-33.64
24.85
ROA (%) 0.88
MBWM's ROA (%) is ranked higher than
51% of the 1432 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.87 vs. MBWM: 0.88 )
Ranked among companies with meaningful ROA (%) only.
MBWM' s 10-Year ROA (%) Range
Min: -2.53  Med: 0.84 Max: 2.45
Current: 0.88
-2.53
2.45
Revenue Growth (3Y)(%) -0.60
MBWM's Revenue Growth (3Y)(%) is ranked lower than
64% of the 1210 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.10 vs. MBWM: -0.60 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
MBWM' s 10-Year Revenue Growth (3Y)(%) Range
Min: -6.9  Med: 5.35 Max: 47.9
Current: -0.6
-6.9
47.9
EBITDA Growth (3Y)(%) 12.50
MBWM's EBITDA Growth (3Y)(%) is ranked higher than
65% of the 1066 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.60 vs. MBWM: 12.50 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
MBWM' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -9.7  Med: 18.90 Max: 30.4
Current: 12.5
-9.7
30.4
EPS Growth (3Y)(%) -32.00
MBWM's EPS Growth (3Y)(%) is ranked lower than
93% of the 1065 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.70 vs. MBWM: -32.00 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
MBWM' s 10-Year EPS Growth (3Y)(%) Range
Min: -32  Med: 20.20 Max: 23.9
Current: -32
-32
23.9
» MBWM's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

MBWM Guru Trades in Q3 2014

Jim Simons 486,615 sh (-2.17%)
» More
Q4 2014

MBWM Guru Trades in Q4 2014

Jim Simons 489,015 sh (+0.49%)
» More
Q1 2015

MBWM Guru Trades in Q1 2015

Jim Simons 508,114 sh (+3.91%)
» More
Q2 2015

MBWM Guru Trades in Q2 2015

Jim Simons 602,372 sh (+18.55%)
» More
» Details

Insider Trades

Latest Guru Trades with MBWM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Ratios

vs
industry
vs
history
P/E(ttm) 13.59
MBWM's P/E(ttm) is ranked lower than
52% of the 1300 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.20 vs. MBWM: 13.59 )
Ranked among companies with meaningful P/E(ttm) only.
MBWM' s 10-Year P/E(ttm) Range
Min: 2.3  Med: 13.91 Max: 132.43
Current: 13.59
2.3
132.43
Forward P/E 12.02
MBWM's Forward P/E is ranked lower than
52% of the 718 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.82 vs. MBWM: 12.02 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 13.60
MBWM's PE(NRI) is ranked lower than
52% of the 1288 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.20 vs. MBWM: 13.60 )
Ranked among companies with meaningful PE(NRI) only.
MBWM' s 10-Year PE(NRI) Range
Min: 2.3  Med: 13.92 Max: 132.43
Current: 13.6
2.3
132.43
P/B 1.04
MBWM's P/B is ranked higher than
52% of the 1381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.05 vs. MBWM: 1.04 )
Ranked among companies with meaningful P/B only.
MBWM' s 10-Year P/B Range
Min: 0.16  Med: 0.99 Max: 2.4
Current: 1.04
0.16
2.4
P/S 2.99
MBWM's P/S is ranked lower than
53% of the 1426 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.88 vs. MBWM: 2.99 )
Ranked among companies with meaningful P/S only.
MBWM' s 10-Year P/S Range
Min: 0.44  Med: 2.76 Max: 26.3
Current: 2.99
0.44
26.3
PFCF 18.31
MBWM's PFCF is ranked lower than
75% of the 858 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.85 vs. MBWM: 18.31 )
Ranked among companies with meaningful PFCF only.
MBWM' s 10-Year PFCF Range
Min: 1.87  Med: 9.25 Max: 230.25
Current: 18.31
1.87
230.25
POCF 16.64
MBWM's POCF is ranked lower than
80% of the 954 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.17 vs. MBWM: 16.64 )
Ranked among companies with meaningful POCF only.
MBWM' s 10-Year POCF Range
Min: 1.84  Med: 8.75 Max: 86.98
Current: 16.64
1.84
86.98
EV-to-EBIT 10.15
MBWM's EV-to-EBIT is ranked higher than
68% of the 1297 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.56 vs. MBWM: 10.15 )
Ranked among companies with meaningful EV-to-EBIT only.
MBWM' s 10-Year EV-to-EBIT Range
Min: -384.8  Med: 13.00 Max: 79.4
Current: 10.15
-384.8
79.4
Shiller P/E 52.34
MBWM's Shiller P/E is ranked lower than
94% of the 784 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 15.97 vs. MBWM: 52.34 )
Ranked among companies with meaningful Shiller P/E only.
MBWM' s 10-Year Shiller P/E Range
Min: 2.43  Med: 20.69 Max: 1074
Current: 52.34
2.43
1074

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.56
MBWM's Dividend Yield is ranked lower than
54% of the 2262 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.73 vs. MBWM: 2.56 )
Ranked among companies with meaningful Dividend Yield only.
MBWM' s 10-Year Dividend Yield Range
Min: 0.11  Med: 1.87 Max: 8.51
Current: 2.56
0.11
8.51
Dividend Payout 0.35
MBWM's Dividend Payout is ranked lower than
53% of the 1321 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. MBWM: 0.35 )
Ranked among companies with meaningful Dividend Payout only.
MBWM' s 10-Year Dividend Payout Range
Min: 0.15  Med: 0.21 Max: 12.73
Current: 0.35
0.15
12.73
Yield on cost (5-Year) 2.56
MBWM's Yield on cost (5-Year) is ranked lower than
60% of the 2265 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.15 vs. MBWM: 2.56 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
MBWM' s 10-Year Yield on cost (5-Year) Range
Min: 0.11  Med: 1.87 Max: 8.51
Current: 2.56
0.11
8.51
Share Buyback Rate -15.10
MBWM's Share Buyback Rate is ranked lower than
83% of the 1012 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.90 vs. MBWM: -15.10 )
Ranked among companies with meaningful Share Buyback Rate only.
MBWM' s 10-Year Share Buyback Rate Range
Min: 0.2  Med: -3.70 Max: -27.2
Current: -15.1

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.29
MBWM's Price/Tangible Book is ranked lower than
59% of the 1349 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.15 vs. MBWM: 1.29 )
Ranked among companies with meaningful Price/Tangible Book only.
MBWM' s 10-Year Price/Tangible Book Range
Min: 0.17  Med: 1.21 Max: 2.15
Current: 1.29
0.17
2.15
Price/Projected FCF 0.78
MBWM's Price/Projected FCF is ranked lower than
61% of the 806 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.67 vs. MBWM: 0.78 )
Ranked among companies with meaningful Price/Projected FCF only.
MBWM' s 10-Year Price/Projected FCF Range
Min: 0.12  Med: 0.63 Max: 1.89
Current: 0.78
0.12
1.89
Price/Median PS Value 1.08
MBWM's Price/Median PS Value is ranked lower than
55% of the 1310 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.05 vs. MBWM: 1.08 )
Ranked among companies with meaningful Price/Median PS Value only.
MBWM' s 10-Year Price/Median PS Value Range
Min: 0.16  Med: 1.09 Max: 8.62
Current: 1.08
0.16
8.62
Price/Graham Number 0.88
MBWM's Price/Graham Number is ranked lower than
56% of the 1192 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.82 vs. MBWM: 0.88 )
Ranked among companies with meaningful Price/Graham Number only.
MBWM' s 10-Year Price/Graham Number Range
Min: 0.23  Med: 1.00 Max: 1.48
Current: 0.88
0.23
1.48
Earnings Yield (Greenblatt) (%) 9.91
MBWM's Earnings Yield (Greenblatt) (%) is ranked higher than
71% of the 1422 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.80 vs. MBWM: 9.91 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
MBWM' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 1.3  Med: 4.10 Max: 11.1
Current: 9.91
1.3
11.1
Forward Rate of Return (Yacktman) (%) -5.30
MBWM's Forward Rate of Return (Yacktman) (%) is ranked lower than
82% of the 785 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.29 vs. MBWM: -5.30 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
MBWM' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -6.8  Med: 11.00 Max: 62.2
Current: -5.3
-6.8
62.2

Analyst Estimate

Dec15 Dec16
EPS($) 1.58 1.69
EPS without NRI($) 1.58 1.69

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Mercantile Bank Corp was organized on July 15, 1997, under the laws of the State of Michigan for the purpose of holding all of the stock of Mercantile Bank of Michigan. The Company, through its subsidiaries, provides banking, insurance and real estate services. The Bank is a community-based financial institution. The Bank's primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial loans, residential mortgage loans, and instalment loans. Insurance products are offered through an Agency and Institutions Agreement among Mercantile Insurance, the Bank and Hub International. The insurance products are marketed through a central facility operated by the Michigan Bankers Insurance Association, members of which include the insurance subsidiaries of various Michigan-based financial institutions and Hub International. Mercantile Real Estate develops, constructs, and owns a facility in downtown Grand Rapids that serves as its Bank's main office and Mercantile's headquarters. It competes for deposits, loans and other financial services with numerous Michigan-based and national and regional banks, savings banks, thrifts, credit unions and other financial institutions as well as from other entities that provide financial services. The Company is subject to regulatory capital requirements administered by federal banking agencies.
» More Articles for MBWM

Headlines

Articles On GuruFocus.com
Mercantile Bank Hires Primatics Financial to Provide Acquired Accounting and Valuation Services Dec 01 2014 
Banking on Michigan: More Than Just Automation Alley Aug 30 2013 
comment on MBWM Apr 20 2013 
comment on MBWM Apr 20 2013 
50 Top Stocks with the Highest Dividend Growth in October 2012 Oct 30 2012 
comment on MBWM Apr 03 2012 
Mercantile Bank Corp. Reports Operating Results (10-K) Mar 14 2011 
Mercantile Bank Corp. Reports Operating Results (10-Q) Nov 08 2010 
Mercantile Bank Corp. Reports Operating Results (10-Q) Aug 09 2010 
Mercantile Bank Corp. Reports Operating Results (10-Q) May 10 2010 

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