| Date | Upside/Downside | Analyst Firm | Price Target Change | Rating Change | Previous / Current Rating |
|---|---|---|---|---|---|
| 10/06/2022 | 10.17% | Raymond James | $44 → $35 | Downgrades | Strong Buy → Outperform |
| 03/02/2022 | 38.5% | Raymond James | → $44 | Upgrades | Outperform → Strong Buy |
| 01/19/2022 | 38.5% | Raymond James | → $44 | Upgrades | Market Perform → Outperform |
| 09/29/2020 | -37.05% | Piper Sandler | $23 → $20 | Maintains | Neutral |
| 07/18/2018 | 29.05% | 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 6, 2022. The analyst firm set a price target for $35.00 expecting MBWM to rise to within 12 months (a possible 10.17% upside). 3 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 downgraded 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 6, 2022 so you should expect the next rating to be made available sometime around October 6, 2023.
While ratings are subjective and will change, the latest Mercantile Bank (MBWM) rating was a downgraded with a price target of $44.00 to $35.00. The current price Mercantile Bank (MBWM) is trading at is $31.77, which is out of the analyst's predicted range.