Analyst Price Target is $54.50
▲ +13.64% Upside Potential
This price target is based on 4 analysts offering 12 month price targets for Mercantile Bank in the last 3 months. The average price target is $54.50, with a high forecast of $56.00 and a low forecast of $53.00. The average price target represents a 13.64% upside from the last price of $47.96.
Current Consensus is
Hold
The current consensus among 4 contributing investment analysts is to hold stock in Mercantile Bank. This rating has held steady since April 2024, when it changed from a Moderate Buy consensus rating.
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also provides commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, it offers courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. The company was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.
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