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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 0.84
MBWM's Cash-to-Debt is ranked lower than
65% of the 1495 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.97 vs. MBWM: 0.84 )
Ranked among companies with meaningful Cash-to-Debt only.
MBWM' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.05  Med: 0.39 Max: No Debt
Current: 0.84
Equity-to-Asset 0.11
MBWM's Equity-to-Asset is ranked higher than
61% of the 1496 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 Equity-to-Asset Range Over the Past 10 Years
Min: 0.06  Med: 0.09 Max: 0.12
Current: 0.11
0.06
0.12
Interest Coverage 3.72
MBWM's Interest Coverage is ranked higher than
73% of the 1758 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.61 vs. MBWM: 3.72 )
Ranked among companies with meaningful Interest Coverage only.
MBWM' s Interest Coverage Range Over the Past 10 Years
Min: 0.14  Med: 2.22 Max: 3.72
Current: 3.72
0.14
3.72
Beneish M-Score: -2.61
WACC vs ROIC
7.05%
7.92%
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 : 5/10

vs
industry
vs
history
Operating Margin % 36.95
MBWM's Operating Margin % is ranked higher than
67% of the 1511 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.68 vs. MBWM: 36.95 )
Ranked among companies with meaningful Operating Margin % only.
MBWM' s Operating Margin % Range Over the Past 10 Years
Min: -79.12  Med: 20.72 Max: 46.25
Current: 36.95
-79.12
46.25
Net Margin % 25.15
MBWM's Net Margin % is ranked higher than
61% of the 1510 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.91 vs. MBWM: 25.15 )
Ranked among companies with meaningful Net Margin % only.
MBWM' s Net Margin % Range Over the Past 10 Years
Min: -88.45  Med: 21.33 Max: 64.06
Current: 25.15
-88.45
64.06
ROE % 9.35
MBWM's ROE % is ranked higher than
60% of the 1509 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.30 vs. MBWM: 9.35 )
Ranked among companies with meaningful ROE % only.
MBWM' s ROE % Range Over the Past 10 Years
Min: -33.64  Med: 7.29 Max: 24.85
Current: 9.35
-33.64
24.85
ROA % 1.07
MBWM's ROA % is ranked higher than
66% of the 1518 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.87 vs. MBWM: 1.07 )
Ranked among companies with meaningful ROA % only.
MBWM' s ROA % Range Over the Past 10 Years
Min: -2.53  Med: 0.84 Max: 2.45
Current: 1.07
-2.53
2.45
3-Year Revenue Growth Rate 7.70
MBWM's 3-Year Revenue Growth Rate is ranked higher than
68% of the 1316 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.90 vs. MBWM: 7.70 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
MBWM' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -6.9  Med: 6.1 Max: 48.2
Current: 7.7
-6.9
48.2
3-Year EBITDA Growth Rate 3.40
MBWM's 3-Year EBITDA Growth Rate is ranked lower than
60% of the 1228 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.20 vs. MBWM: 3.40 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
MBWM' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -9.7  Med: 19.4 Max: 30.7
Current: 3.4
-9.7
30.7
3-Year EPS without NRI Growth Rate 0.20
MBWM's 3-Year EPS without NRI Growth Rate is ranked lower than
71% of the 1184 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.30 vs. MBWM: 0.20 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
MBWM' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -32  Med: 18.8 Max: 23.8
Current: 0.2
-32
23.8
GuruFocus has detected 1 Warning Sign with Mercantile Bank Corp $MBWM.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» MBWM's 10-Y Financials

Financials (Next Earnings Date: 2017-04-17 Est.)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

MBWM Guru Trades in Q1 2016

Jim Simons 635,115 sh (+4.29%)
» More
Q2 2016

MBWM Guru Trades in Q2 2016

Jim Simons 661,215 sh (+4.11%)
» More
Q3 2016

MBWM Guru Trades in Q3 2016

Jim Simons 645,315 sh (-2.40%)
» More
Q4 2016

MBWM Guru Trades in Q4 2016

Jim Simons 652,515 sh (+1.12%)
» 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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Business Description

Industry: Banks » Banks - Regional - US    NAICS: 522110    SIC: 6022
Compare:AMEX:BHB, NAS:BMRC, NAS:BCBP, OTCPK:BERK, NAS:BOCH, NAS:BKSC, NAS:BANF, NAS:BANR, NYSE:BXS, NYSE:BOH, NAS:OZRK, NYSE:BBT » details
Mercantile Bank Corp is a registered bank holding company. The Company, through its subsidiaries, provides banking, insurance and real estate services.

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.

Ratios

vs
industry
vs
history
PE Ratio 17.98
MBWM's PE Ratio is ranked lower than
67% of the 1941 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.56 vs. MBWM: 17.98 )
Ranked among companies with meaningful PE Ratio only.
MBWM' s PE Ratio Range Over the Past 10 Years
Min: 2.3  Med: 13.25 Max: 132.43
Current: 17.98
2.3
132.43
Forward PE Ratio 19.08
MBWM's Forward PE Ratio is ranked lower than
86% of the 526 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.33 vs. MBWM: 19.08 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 17.98
MBWM's PE Ratio without NRI is ranked lower than
64% of the 1635 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.25 vs. MBWM: 17.98 )
Ranked among companies with meaningful PE Ratio without NRI only.
MBWM' s PE Ratio without NRI Range Over the Past 10 Years
Min: 2.3  Med: 13.25 Max: 132.43
Current: 17.98
2.3
132.43
Price-to-Owner-Earnings 14.77
MBWM's Price-to-Owner-Earnings is ranked lower than
51% of the 905 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.04 vs. MBWM: 14.77 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
MBWM' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 1.98  Med: 10.15 Max: 124.12
Current: 14.77
1.98
124.12
PB Ratio 1.69
MBWM's PB Ratio is ranked lower than
75% of the 1810 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.17 vs. MBWM: 1.69 )
Ranked among companies with meaningful PB Ratio only.
MBWM' s PB Ratio Range Over the Past 10 Years
Min: 0.16  Med: 0.98 Max: 1.94
Current: 1.69
0.16
1.94
PS Ratio 4.55
MBWM's PS Ratio is ranked lower than
70% of the 1833 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.32 vs. MBWM: 4.55 )
Ranked among companies with meaningful PS Ratio only.
MBWM' s PS Ratio Range Over the Past 10 Years
Min: 0.44  Med: 2.72 Max: 19.49
Current: 4.55
0.44
19.49
Price-to-Free-Cash-Flow 16.63
MBWM's Price-to-Free-Cash-Flow is ranked lower than
66% of the 1008 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.76 vs. MBWM: 16.63 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
MBWM' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 1.86  Med: 8.99 Max: 20.85
Current: 16.63
1.86
20.85
Price-to-Operating-Cash-Flow 16.63
MBWM's Price-to-Operating-Cash-Flow is ranked lower than
73% of the 1096 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.62 vs. MBWM: 16.63 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
MBWM' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 1.84  Med: 8.22 Max: 19.25
Current: 16.63
1.84
19.25
EV-to-EBIT 13.14
MBWM's EV-to-EBIT is ranked lower than
57% of the 1558 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.64 vs. MBWM: 13.14 )
Ranked among companies with meaningful EV-to-EBIT only.
MBWM' s EV-to-EBIT Range Over the Past 10 Years
Min: -384.8  Med: 10.7 Max: 58.6
Current: 13.14
-384.8
58.6
EV-to-EBITDA 10.90
MBWM's EV-to-EBITDA is ranked lower than
53% of the 1576 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.00 vs. MBWM: 10.90 )
Ranked among companies with meaningful EV-to-EBITDA only.
MBWM' s EV-to-EBITDA Range Over the Past 10 Years
Min: -61.8  Med: 9.6 Max: 53.1
Current: 10.9
-61.8
53.1
PEG Ratio 0.89
MBWM's PEG Ratio is ranked higher than
68% of the 780 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.43 vs. MBWM: 0.89 )
Ranked among companies with meaningful PEG Ratio only.
MBWM' s PEG Ratio Range Over the Past 10 Years
Min: 0.61  Med: 0.95 Max: 3.42
Current: 0.89
0.61
3.42
Shiller PE Ratio 81.72
MBWM's Shiller PE Ratio is ranked lower than
96% of the 496 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 20.63 vs. MBWM: 81.72 )
Ranked among companies with meaningful Shiller PE Ratio only.
MBWM' s Shiller PE Ratio Range Over the Past 10 Years
Min: 2.57  Med: 27.28 Max: 87.77
Current: 81.72
2.57
87.77

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.92
MBWM's Dividend Yield % is ranked lower than
66% of the 2303 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.69 vs. MBWM: 1.92 )
Ranked among companies with meaningful Dividend Yield % only.
MBWM' s Dividend Yield % Range Over the Past 10 Years
Min: 0.11  Med: 2.2 Max: 8.51
Current: 1.92
0.11
8.51
Dividend Payout Ratio 0.26
MBWM's Dividend Payout Ratio is ranked higher than
64% of the 1315 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. MBWM: 0.26 )
Ranked among companies with meaningful Dividend Payout Ratio only.
MBWM' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.07  Med: 0.31 Max: 0.52
Current: 0.26
0.07
0.52
3-Year Dividend Growth Rate 3.60
MBWM's 3-Year Dividend Growth Rate is ranked lower than
65% of the 772 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.60 vs. MBWM: 3.60 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
MBWM' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: -60.6 Max: 255.7
Current: 3.6
0
255.7
Forward Dividend Yield % 2.10
MBWM's Forward Dividend Yield % is ranked lower than
68% of the 2274 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.95 vs. MBWM: 2.10 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.00
MBWM's 5-Year Yield-on-Cost % is ranked lower than
71% of the 2649 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.27 vs. MBWM: 2.00 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
MBWM' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.11  Med: 2.2 Max: 8.51
Current: 2
0.11
8.51
3-Year Average Share Buyback Ratio -23.40
MBWM's 3-Year Average Share Buyback Ratio is ranked lower than
92% of the 1010 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.60 vs. MBWM: -23.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
MBWM' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -33.3  Med: -4.6 Max: -0.3
Current: -23.4
-33.3
-0.3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 2.06
MBWM's Price-to-Tangible-Book is ranked lower than
79% of the 1798 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.25 vs. MBWM: 2.06 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
MBWM' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.21  Med: 1.22 Max: 2.2
Current: 2.06
0.21
2.2
Price-to-Intrinsic-Value-Projected-FCF 1.12
MBWM's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
72% of the 1104 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.80 vs. MBWM: 1.12 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
MBWM' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.12  Med: 0.67 Max: 1.8
Current: 1.12
0.12
1.8
Price-to-Median-PS-Value 1.65
MBWM's Price-to-Median-PS-Value is ranked lower than
84% of the 1693 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.15 vs. MBWM: 1.65 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
MBWM' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.16  Med: 1.2 Max: 7.86
Current: 1.65
0.16
7.86
Price-to-Peter-Lynch-Fair-Value 0.95
MBWM's Price-to-Peter-Lynch-Fair-Value is ranked higher than
64% of the 533 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.15 vs. MBWM: 0.95 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
MBWM' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 0.76  Med: 1.02 Max: 1.6
Current: 0.95
0.76
1.6
Price-to-Graham-Number 1.27
MBWM's Price-to-Graham-Number is ranked lower than
73% of the 1556 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.93 vs. MBWM: 1.27 )
Ranked among companies with meaningful Price-to-Graham-Number only.
MBWM' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.25  Med: 1 Max: 1.37
Current: 1.27
0.25
1.37
Earnings Yield (Greenblatt) % 7.61
MBWM's Earnings Yield (Greenblatt) % is ranked higher than
57% of the 2086 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.41 vs. MBWM: 7.61 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
MBWM' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 1.7  Med: 7.7 Max: 12.4
Current: 7.61
1.7
12.4
Forward Rate of Return (Yacktman) % 25.00
MBWM's Forward Rate of Return (Yacktman) % is ranked higher than
78% of the 891 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.45 vs. MBWM: 25.00 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
MBWM' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -0.5  Med: 18.4 Max: 62.2
Current: 25
-0.5
62.2

More Statistics

Revenue (TTM) (Mil) $126.9
EPS (TTM) $ 1.96
Beta0.70
Short Percentage of Float0.51%
52-Week Range $21.05 - 38.68
Shares Outstanding (Mil)16.43

Analyst Estimate

Dec17 Dec18
Revenue (Mil $)
EPS ($) 1.80 2.05
EPS without NRI ($) 1.80 2.05
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 0.72 0.72
» More Articles for MBWM

Headlines

Articles On GuruFocus.com
Banking on Michigan: More Than Just Automation Alley Aug 30 2013 
50 Top Stocks with the Highest Dividend Growth in October 2012 Oct 30 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 
Mercantile Bank Corp. Reports Operating Results (10-Q) Nov 06 2009 
Mercantile Bank Corp. Reports Operating Results (10-Q) Aug 07 2009 
Mercantile Bank Corp. Reports Operating Results (10-Q) May 06 2009 
Bank CEOs Are Buying: West Coast Bancorp (WCBO), ABC Bancorp (ABCB), Mercantile Bank Corp. (MBWM), a Jul 23 2007 

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