The latest price target for Mercantile Bank (NASDAQ:MBWM) was reported by Raymond James on October 22, 2025. The analyst firm set a price target for $52.00 expecting MBWM to rise to within 12 months (a possible 4.82% upside). 6 analyst firms have reported ratings in the last year.

The latest analyst rating for Mercantile Bank (NASDAQ:MBWM) was provided by Raymond James, and Mercantile Bank reiterated their outperform rating.

The last upgrade for Mercantile Bank Corp happened on July 24, 2025 when Raymond James raised their price target to $55. Raymond James previously had a market perform 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 October 22, 2025 so you should expect the next rating to be made available sometime around October 22, 2026.

While ratings are subjective and will change, the latest Mercantile Bank (MBWM) rating was a reiterated with a price target of $55.00 to $52.00. The current price Mercantile Bank (MBWM) is trading at is $49.61, which is out of the analyst’s predicted range.