The latest price target for Mercantile Bank (NASDAQ:MBWM) was reported by Keefe, Bruyette & Woods on July 17, 2024. The analyst firm set a price target for $51.00 expecting MBWM to rise to within 12 months (a possible 12.66% upside). 3 analyst firms have reported ratings in the last year.

The latest analyst rating for Mercantile Bank (NASDAQ:MBWM) was provided by Keefe, Bruyette & Woods, and Mercantile Bank reiterated their outperform rating.

The last upgrade for Mercantile Bank Corp happened on March 7, 2023 when Piper Sandler raised their price target to $40. Piper Sandler previously had a neutral for Mercantile Bank Corp.

The last downgrade for Mercantile Bank Corp happened on January 18, 2023 when Raymond James changed their price target from N/A to N/A for Mercantile Bank Corp.

Analysts arrive at stock ratings after doing extensive research, which includes going through public financial statements, talking to executives and customers of Mercantile Bank, and listening in to earnings conference calls. Most analysts do this every three months, so you should get 4 ratings per company per firm each year. The last rating for Mercantile Bank was filed on July 17, 2024 so you should expect the next rating to be made available sometime around July 17, 2025.

While ratings are subjective and will change, the latest Mercantile Bank (MBWM) rating was a reiterated with a price target of $47.00 to $51.00. The current price Mercantile Bank (MBWM) is trading at is $45.27, which is out of the analyst’s predicted range.