Mercantile Bank Corporation (MBWM): Price and Financial Metrics

MBWM POWR Grades

• Sentiment is the dimension where MBWM ranks best; there it ranks ahead of 92.37% of US stocks.
• The strongest trend for MBWM is in Growth, which has been heading down over the past 177 days.
• MBWM's current lowest rank is in the Quality metric (where it is better than 25.48% of US stocks).

MBWM Stock Summary

• With a price/earnings ratio of 6.29, MERCANTILE BANK CORP P/E ratio is greater than that of about just 12.59% of stocks in our set with positive earnings.
• The ratio of debt to operating expenses for MERCANTILE BANK CORP is higher than it is for about 88.02% of US stocks.
• MBWM's equity multiplier -- a measure of assets relative to shareholders'equity -- is greater than that of 91.41% of US stocks.
• Stocks that are quantitatively similar to MBWM, based on their financial statements, market capitalization, and price volatility, are BANC, TBNK, FLIC, CNOB, and ONB.
• Visit MBWM's SEC page to see the company's official filings. To visit the company's web site, go to www.mercbank.com.

MBWM Valuation Summary

• In comparison to the median Financial Services stock, MBWM's price/earnings ratio is 31.58% lower, now standing at 6.5.
• MBWM's price/sales ratio has moved down 3.9 over the prior 243 months.

Below are key valuation metrics over time for MBWM.

MBWM Growth Metrics

Its year over year net income to common stockholders growth rate is now at 17.96%.
• Its 4 year net income to common stockholders growth rate is now at 55.93%.
• Its 4 year cash and equivalents growth rate is now at 346.84%.

MBWM's revenue has moved up $54,529,000 over the prior 67 months.

The table below shows MBWM's growth in key financial areas (numbers in millions of US dollars).

Date	Revenue	Operating Cash Flow	Net Income to Common Stock
2022-09-30	176.925	128.197	50.898
2022-06-30	174.988	92.391	49.919
2022-03-31	181.948	93.882	56.273
2021-12-31	184.582	64.573	59.021
2021-09-30	179.697	40.74	61.463
2021-06-30	174.521	72.445	57.098

MBWM's Quality Factors

The “Quality” component of the POWR Ratings focuses on 31 different factors of a companies fundamentals and operational strength. Here are some key insights as we drill into the specifics of these quality attributes.

• MBWM has a Quality Grade of C, ranking ahead of 47.71% of graded US stocks.
• MBWM's asset turnover comes in at 0.038 -- ranking 212th of 428 Banking stocks.
• RIVE, PBCT, and MTB are the stocks whose asset turnover ratios are most correlated with MBWM.

The table below shows MBWM's key quality metrics over time.