Mercantile Bank Corp has a consensus price target of $30.5, established from looking at the 7 latest analyst ratings. The last 3 analyst ratings were released from Keefe, Bruyette & Woods, Piper Sandler, and Raymond James on April 17, 2024, March 7, 2023, and January 18, 2023. With an average price target of $29 between Keefe, Bruyette & Woods, Piper Sandler, and Raymond James, there's an implied -20.53% downside for Mercantile Bank Corp from these 3 analyst ratings.
1calculated from analyst ratings published within the last 3 years
date | ticker | Buy Now | Company | Current price | Upside/Downside | Analyst Firm | Analyst & % Accurate | Price Target Change | Rating Change | Previous / Current Rating | Get Alert |
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04/17/2024 | MBWM | Buy Now | Mercantile Bank | $36.49 | 28.8% | Keefe, Bruyette & Woods | Damon Delmonte | → $47 | Reiterates | Outperform → Outperform | Get Alert |
03/07/2023 | MBWM | Buy Now | Mercantile Bank | $36.49 | 9.62% | Piper Sandler | Brandan Nosal | $38 → $40 | Upgrade | Neutral → Overweight | Get Alert |
01/18/2023 | MBWM | Buy Now | Mercantile Bank | $36.49 | — | Raymond James | Daniel Tamayo | — | Downgrade | Outperform → Market Perform | Get Alert |
10/19/2022 | MBWM | Buy Now | Mercantile Bank | $36.49 | 4.14% | Raymond James | Daniel Tamayo | $35 → $38 | Maintains | Outperform | Get Alert |
10/06/2022 | MBWM | Buy Now | Mercantile Bank | $36.49 | -4.08% | Raymond James | David Long | $44 → $35 | Downgrade | Strong Buy → Outperform | Get Alert |
03/02/2022 | MBWM | Buy Now | Mercantile Bank | $36.49 | 20.58% | Raymond James | Daniel Tamayo | → $44 | Upgrade | Outperform → Strong Buy | Get Alert |
01/19/2022 | MBWM | Buy Now | Mercantile Bank | $36.49 | 20.58% | Raymond James | Daniel Tamayo | → $44 | Upgrade | Market Perform → Outperform | Get Alert |
The latest price target for Mercantile Bank (NASDAQ: MBWM) was reported by Keefe, Bruyette & Woods on April 17, 2024. The analyst firm set a price target for $47.00 expecting MBWM to rise to within 12 months (a possible 28.80% upside). 1 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 April 17, 2024 so you should expect the next rating to be made available sometime around April 17, 2025.
While ratings are subjective and will change, the latest Mercantile Bank (MBWM) rating was a reiterated with a price target of $0.00 to $47.00. The current price Mercantile Bank (MBWM) is trading at is $36.49, which is within the analyst’s predicted range.
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