Stock Rating Upgrade
The Value Trend Rating for Mercantile Bank Corp (NASDAQ: MBWM) improved during the last several trading days from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Mercantile Bank Corp (NASDAQ: MBWM) stock declined by -3.5% on 7/29/24. The shares closed at $48.65. Trading volume in this decline was normal. The stock has performed in line with the market over the last nine months and has risen 1.4% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, MBWM is expected to continue to be a Value Builder.
Mercantile Bank has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Mercantile Bank has a neutral Power Rating of 53 but a good Appreciation Score of 72, triggering the Positive Value Trend Rating.
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