Is Mercantile Bank Corporation overvalued?

Mercantile Bank Corporation (MBWM) looks undervalued — trading about 26% below its fair value.

Undervalued

Price

$61.25

Fair value

$77.17

Current P/E

10.7

Normal P/E

13.5

Market cap

$1.06B

Dividend yield

2.6%

Return on equity

12.9%

Sector

Financial Services

Fair value compares MBWM's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 12 Nov 2026.

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