Exceptional positive changes in fundamentals have recently occurred for Mercantile Bank Corp (NASDAQ: MBWM): the consensus estimate for December, 2024 increased significantly, significant quarterly sales acceleration occurred, the consensus estimate for December, 2025 increased significantly, and significant quarterly earnings acceleration occurred.
. Positive development: the stock’s recent price rise disrupted its longer term downtrend. Negative development: its shorter term price trend turned down.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
MBWM’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Mercantile Bank has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Mercantile Bank has a good Appreciation Score of 80 and a very high Power Rating of 96, triggering the Highest Value Trend Rating.
Recent Price Action
Mercantile Bank Corp (NASDAQ: MBWM) stock closed at $36.51 on 2/28/24 after a slight decline of -0.7%. However, this decline was accompanied by unusually low trading volume at 64% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -2.2% during the last week.
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