Mercantile Bank Corporation (MBWM): Price and Financial Metrics

MBWM POWR Grades

• Stability is the dimension where MBWM ranks best; there it ranks ahead of 94.6% of US stocks.
• The strongest trend for MBWM is in Stability, which has been heading up over the past 179 days.
• MBWM's current lowest rank is in the Growth metric (where it is better than 7.75% of US stocks).

MBWM Stock Summary

• The ratio of debt to operating expenses for Mercantile Bank Corp is higher than it is for about 84.74% of US stocks.
• Equity multiplier, or assets relative to shareholders' equity, comes in at 10.93 for Mercantile Bank Corp; that's greater than it is for 93.43% of US stocks.
• Mercantile Bank Corp's shareholder yield -- a measure of how much capital is returned to stockholders via dividends and buybacks -- is -16.05%, greater than the shareholder yield of only 20.43% of stocks in our set.
• If you're looking for stocks that are quantitatively similar to Mercantile Bank Corp, a group of peers worth examining would be CNOB, FBIZ, CALB, TBNK, and FFIC.
• MBWM's SEC filings can be seen here. And to visit Mercantile Bank Corp's official web site, go to www.mercbank.com.

MBWM Valuation Summary

• In comparison to the median Financial Services stock, MBWM's price/earnings ratio is 20% lower, now standing at 8.8.
• MBWM's EV/EBIT ratio has moved down 10.5 over the prior 243 months.
• MBWM's EV/EBIT ratio has moved down 10.5 over the prior 243 months.

Below are key valuation metrics over time for MBWM.

MBWM Growth Metrics

The 3 year net income to common stockholders growth rate now stands at 48.56%.
• The 4 year net income to common stockholders growth rate now stands at 67.01%.
• The 4 year revenue growth rate now stands at 22.85%.

MBWM's revenue has moved up $35,713,000 over the prior 15 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
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
2021-03-31	159.949	46.234	47.705
2020-12-31	153.368	37.877	44.138
2020-09-30	148.869	40.94	43.374

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.