On 11/6/24, Mercantile Bank Corp (NASDAQ: MBWM) stock enjoyed a major increase of 16.5%, closing at $51.16. Moreover, trading volume in this advance was exceptionally high at 311% of normal. The stock has been strong relative to the market over the last nine months and has risen 16.9% 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 A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Mercantile Bank has a good Power Rating of 75 and a good Appreciation Score of 78, and the Highest Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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