Mercantile Bank Analyst Price Targets

Wall Street analyst price targets and consensus rating for Mercantile Bank (MBWM).

Price Target Range — 11 Quarters

Analyst Consensus — 4 Analysts

2Buy

2Hold

Consensus RatingNeutral# Analysts4Avg. Consensus PT$58Upside to Avg. PT-5.2%

Rating Trend — Last 9 Months

Recent Analyst Actions

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Date	Firm	Analyst	Action	Rating Change	Price Target
Oct 21, 2026	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$64→$65
Jul 22, 2026	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$60→$64
Jul 22, 2026	Hovde Group	Brendan Nosal	Downgrade	Outperform→Market Perform	$62
Jun 26, 2026	Piper Sandler	Nathan Race	PT Raise	Neutral	$57→$60
Jan 21, 2026	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$56→$57
Jan 7, 2026	Raymond James	Daniel Tamayo	PT Raise	Outperform	$52→$54
Oct 22, 2025	Raymond James	Daniel Tamayo	PT Cut	Outperform	$55→$52
Jul 24, 2025	Raymond James	Daniel Tamayo	Upgrade	Market Perform→Outperform	$55
Jul 23, 2025	Piper Sandler	Nathan Race	PT Raise	Neutral	$48→$56
Jul 23, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$53→$56
Apr 23, 2025	Piper Sandler	Brandan Nosal	PT Cut	Neutral	$50→$48
Jan 22, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$56→$57
Dec 4, 2024	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$50→$56
Jul 17, 2024	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$47→$51
Jul 17, 2024	Piper Sandler	Brandan Nosal	PT Raise	Neutral	$42→$53
Apr 17, 2024	Keefe, Bruyette & Woods	Damon Delmonte	Maintained	Outperform	$47

Analyst Ratings News

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $64

Keefe, Bruyette & Woods analyst Damon Delmonte maintains Mercantile Bank (NASDAQ:MBWM) with a Outperform and raises the price target from $60 to $64.

Benzinga Newsdesk

PRO
Hovde Group Downgrades Mercantile Bank to Market Perform, Announces $62 Price Target

Hovde Group analyst Brendan Nosal downgrades Mercantile Bank (NASDAQ:MBWM) from Outperform to Market Perform and announces $62 price target.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Neutral on Mercantile Bank, Raises Price Target to $60

Piper Sandler analyst Nathan Race maintains Mercantile Bank (NASDAQ:MBWM) with a Neutral and raises the price target from $57 to $60.

Benzinga Newsdesk

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $57

Keefe, Bruyette & Woods analyst Damon Delmonte maintains Mercantile Bank (NASDAQ:MBWM) with a Outperform and raises the price target from $56 to $57.

Benzinga Newsdesk

PRO
Raymond James Maintains Outperform on Mercantile Bank, Raises Price Target to $54

Raymond James analyst Daniel Tamayo maintains Mercantile Bank (NASDAQ:MBWM) with a Outperform and raises the price target from $52 to $54.

Benzinga Newsdesk

PRO
Raymond James Reiterates Outperform on Mercantile Bank, Lowers Price Target to $52

Raymond James analyst Daniel Tamayo reiterates Mercantile Bank (NASDAQ:MBWM) with a Outperform and lowers the price target from $55 to $52.

Benzinga Newsdesk

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Mercantile Bank Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $64

PRO
Hovde Group Downgrades Mercantile Bank to Market Perform, Announces $62 Price Target

PRO
Piper Sandler Maintains Neutral on Mercantile Bank, Raises Price Target to $60

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $57

PRO
Raymond James Maintains Outperform on Mercantile Bank, Raises Price Target to $54

PRO
Raymond James Reiterates Outperform on Mercantile Bank, Lowers Price Target to $52

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Mercantile Bank Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PROKeefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $64

PROHovde Group Downgrades Mercantile Bank to Market Perform, Announces $62 Price Target

PROPiper Sandler Maintains Neutral on Mercantile Bank, Raises Price Target to $60

PROKeefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $57

PRORaymond James Maintains Outperform on Mercantile Bank, Raises Price Target to $54

PRORaymond James Reiterates Outperform on Mercantile Bank, Lowers Price Target to $52

People Also Watch

People Also Watch

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $64

PRO
Hovde Group Downgrades Mercantile Bank to Market Perform, Announces $62 Price Target

PRO
Piper Sandler Maintains Neutral on Mercantile Bank, Raises Price Target to $60

PRO
Keefe, Bruyette & Woods Maintains Outperform on Mercantile Bank, Raises Price Target to $57

PRO
Raymond James Maintains Outperform on Mercantile Bank, Raises Price Target to $54

PRO
Raymond James Reiterates Outperform on Mercantile Bank, Lowers Price Target to $52