| Date | Upside/Downside | Analyst Firm | Price Target Change | Rating Change | Previous / Current Rating |
|---|---|---|---|---|---|
| 10/19/2022 | 18.2% | Raymond James | $35 → $38 | Maintains | Outperform |
| 10/06/2022 | 8.86% | Raymond James | $44 → $35 | Downgrades | Strong Buy → Outperform |
| 03/02/2022 | 36.86% | Raymond James | → $44 | Upgrades | Outperform → Strong Buy |
| 01/19/2022 | 36.86% | Raymond James | → $44 | Upgrades | Market Perform → Outperform |
| 09/29/2020 | -37.79% | Piper Sandler | $23 → $20 | Maintains | Neutral |
| 07/18/2018 | 27.53% | Keefe, Bruyette & Woods | $40 → $41 | Maintains | Outperform |
| 03/01/2018 | — | Keefe, Bruyette & Woods | Upgrades | Market Perform → Outperform |
Mercantile Bank Questions & Answers
The latest price target for Mercantile Bank (NASDAQ: MBWM) was reported by Raymond James on October 19, 2022. The analyst firm set a price target for $38.00 expecting MBWM to rise to within 12 months (a possible 18.20% upside). 4 analyst firms have reported ratings in the last year.
The latest analyst rating for Mercantile Bank (NASDAQ: MBWM) was provided by Raymond James, and Mercantile Bank maintained their outperform rating.
Analysts arrive at stock ratings after doing extensive research, which includes going through public financial statements, talking to executives and customers of Mercantile Bank, and listening in to earnings conference calls. Most analysts do this every three months, so you should get 4 ratings per company per firm each year. The last rating for Mercantile Bank was filed on October 19, 2022 so you should expect the next rating to be made available sometime around October 19, 2023.
While ratings are subjective and will change, the latest Mercantile Bank (MBWM) rating was a maintained with a price target of $35.00 to $38.00. The current price Mercantile Bank (MBWM) is trading at is $32.15, which is out of the analyst's predicted range.