Is Mercantile Bank Corporation overvalued?

Mercantile Bank Corporation (MBWM) looks undervalued — trading about 25% below its fair value.

Undervalued

Price

$61.56

Fair value

$77.17

Current P/E

10.8

Normal P/E

13.5

Market cap

$1.06B

Dividend yield

2.5%

Return on equity

13.2%

Sector

Financial Services

Fair value compares MBWM's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 11 Aug 2026.

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