Shares Outstanding Shares Outstanding n/a Close	16.24M
Shares Change (YoY) Shares Change (YoY) n/a Close	0.68%
Shares Change (QoQ) Shares Change (QoQ) n/a Close	0.55%
Owned by Institutions (%) Owned by Institutions (%) n/a Close	63.74%
Shares Floating Shares Floating n/a Close	15.42M
Failed to Deliver (FTD) Shares Failed to Deliver (FTD) Shares n/a Close	236
FTD / Avg. Volume FTD / Avg. Volume n/a Close	0.4%

Short Selling Information

The latest short interest is 139.08K, so 0.86% of the outstanding shares have been sold short.

Short Interest Short Interest n/a Close	139.08K
Short % of Shares Out Short % of Shares Out n/a Close	0.86%
Short % of Float Short % of Float n/a Close	0.99%
Short Ratio (days to cover) Short Ratio (days to cover) n/a Close	3.2

Valuation Ratios

The PE ratio is 9.02 and the forward PE ratio is 8.64. Mercantile Bank's PEG ratio is -2.31.

PE Ratio PE Ratio n/a Close	9.02
Forward PE Forward PE n/a Close	8.64
PS Ratio PS Ratio n/a Close	1.98
Forward PS Forward PS n/a Close	2.8
PB Ratio PB Ratio n/a Close	1.23
P/FCF Ratio P/FCF Ratio n/a Close	7.75
PEG Ratio PEG Ratio n/a Close	-2.31

Financial Ratio History

Enterprise Valuation

Mercantile Bank has an Enterprise Value (EV) of 972.91M.

EV / Sales EV / Sales n/a Close	2.69
EV / EBITDA EV / EBITDA n/a Close	8.94
EV / EBIT EV / EBIT n/a Close	9.62
EV / FCF EV / FCF n/a Close	10.51

Financial Position

The company has a current ratio of 0.23, with a Debt / Equity ratio of 1.11.

Current Ratio Current Ratio n/a Close	0.23
Quick Ratio Quick Ratio n/a Close	0.23
Debt / Equity Debt / Equity n/a Close	1.11
Debt / EBITDA Debt / EBITDA n/a Close	5.96
Debt / FCF Debt / FCF n/a Close	7
Interest Coverage Interest Coverage n/a Close	0.75

Financial Efficiency

Return on Equity is 13.62% and Return on Invested Capital is 5.88%.

Return on Equity Return on Equity n/a Close	13.62%
Return on Assets Return on Assets n/a Close	1.32%
Return on Invested Capital Return on Invested Capital n/a Close	5.88%
Revenue Per Employee Revenue Per Employee n/a Close	$546,663.14
Profits Per Employee Profits Per Employee n/a Close	$120,231.12
Employee Count Employee Count n/a Close	662
Asset Turnover Asset Turnover n/a Close	0.06
Inventory Turnover Inventory Turnover n/a Close	n/a

Taxes

Income Tax Income Tax n/a Close	18.69M
Effective Tax Rate Effective Tax Rate n/a Close	19.02%

Stock Price Statistics

The stock price has increased by 19.07% in the last 52 weeks. The beta is 0.9, so Mercantile Bank's price volatility has been higher than the market average.

Beta Beta n/a Close	0.9
52-Week Price Change 52-Week Price Change n/a Close	19.07%
50-Day Moving Average 50-Day Moving Average n/a Close	43.3
200-Day Moving Average 200-Day Moving Average n/a Close	45.22
Relative Strength Index (RSI) Relative Strength Index (RSI) n/a Close	48.66
Average Volume (20 Days) Average Volume (20 Days) n/a Close	59,174

Income Statement

In the last 12 months, Mercantile Bank had revenue of 361.89M and earned 79.59M in profits. Earnings per share was 4.93.

Revenue Revenue n/a Close	361.89M
Gross Profit Gross Profit n/a Close	224.07M
Operating Income Operating Income n/a Close	98.29M
Net Income Net Income n/a Close	79.59M
EBITDA EBITDA n/a Close	108.79M
EBIT EBIT n/a Close	98.29M
Earnings Per Share (EPS) Earnings Per Share (EPS) n/a Close	4.93

Full Income Statement

Balance Sheet

The company has 393.01M in cash and 648.25M in debt, giving a net cash position of -255.24M.

Cash & Cash Equivalents Cash & Cash Equivalents n/a Close	393.01M
Total Debt Total Debt n/a Close	648.25M
Net Cash Net Cash n/a Close	-255.24M
Retained Earnings Retained Earnings n/a Close	334.65M
Total Assets Total Assets n/a Close	6.14B
Working Capital Working Capital n/a Close	857.9M

Full Balance Sheet

Cash Flow

In the last 12 months, operating cash flow was 101.12M and capital expenditures -8.53M, giving a free cash flow of 92.59M.

Operating Cash Flow Operating Cash Flow n/a Close	101.12M
Capital Expenditures Capital Expenditures n/a Close	-8.53M
Free Cash Flow Free Cash Flow n/a Close	92.59M
FCF Per Share FCF Per Share n/a Close	5.74

Full Cash Flow Statement

Margins

Gross margin is 61.92%, with operating and profit margins of 27.16% and 21.99%.

Gross Margin Gross Margin n/a Close	61.92%
Operating Margin Operating Margin n/a Close	27.16%
Pretax Margin Pretax Margin n/a Close	27.16%
Profit Margin Profit Margin n/a Close	21.99%
EBITDA Margin EBITDA Margin n/a Close	30.06%
EBIT Margin EBIT Margin n/a Close	27.16%
FCF Margin FCF Margin n/a Close	25.58%

Dividends & Yields

MBWM pays an annual dividend of $1.81, which amounts to a dividend yield of 3.28%.

Dividend Per Share Dividend Per Share n/a Close	$1.81
Dividend Yield Dividend Yield n/a Close	3.28%
Dividend Growth (YoY) Dividend Growth (YoY) n/a Close	5.71%
Payout Ratio Payout Ratio n/a Close	37.71%
Earnings Yield Earnings Yield n/a Close	11.09%
FCF Yield FCF Yield n/a Close	12.9%

Dividend Details

Analyst Forecast

The average price target for MBWM is $52.25, which is 19% higher than the current price. The consensus rating is "Hold".

Price Target Price Target n/a Close	$52.25
Price Target Difference Price Target Difference n/a Close	19%
Analyst Consensus Analyst Consensus n/a Close	Hold
Analyst Count Analyst Count n/a Close	2

Stock Forecasts

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value Lynch Fair Value n/a Close	$62.66
Lynch Upside Lynch Upside n/a Close	42.73%
Graham Number Graham Number n/a Close	63.43
Graham Upside Graham Upside n/a Close	44.49%

Stock Splits

The last stock split was on Apr 19, 2007. It was a forward split with a ratio of 21:20.

Last Split Date Last Split Date n/a Close	Apr 19, 2007
Split Type Split Type n/a Close	forward
Split Ratio Split Ratio n/a Close	21:20

Scores

Altman Z-Score Altman Z-Score n/a Close	0.42
Piotroski F-Score Piotroski F-Score n/a Close	5