The price-to-earnings ratio for Mercantile Bank stock stands at 7.31 as of May 1, 2024. This is calculated based on the current EPS of $5.13 and the stock price of $37.49 per share. An increase of 11% has been recorded in the PE ratio compared to the average of 6.6 of the last four quarters.
Over the last ten years, the average PE ratio of Mercantile Bank has been 12.11. The current 7.31 P/E ratio is 40% lower than the historical average. In the past ten years, MBWM's PE ratio peaked in the Dec 2016 quarter at 19.23, with a price of $37.7 and an EPS of $1.96. The Jun 2023 quarter marked the lowest point at 5.57, with a price of $27.62 and an EPS of $4.96.
Maximum annual increase: 49.14% in 2014
Maximum annual decrease: -40.01% in 2018
| Year | PE ratio | Change |
|---|---|---|
| 2023 | 7.87 | -9.54% |
| 2022 | 8.7 | -8.32% |
| 2021 | 9.49 | -5.38% |
| 2020 | 10.03 | -17.24% |
| 2019 | 12.12 | 8.5% |
| 2018 | 11.17 | -40.01% |
| 2017 | 18.62 | -3.17% |
| 2016 | 19.23 | 27.69% |
| 2015 | 15.06 | -8.28% |
| 2014 | 16.42 | 49.14% |
Currently, MBWM's PE ratio is lower than the 3, 5 and 10-year averages.
MBWM's PE ratio stands lower than its peer stocks FITB and SRCE. Mercantile Bank's current PE ratio of 7.31 is lower than the average of its peers, which is 10.6.
| Stock name | PE ratio | Market cap |
|---|---|---|
| MBWM Mercantile Bank Corp | 7.41 | $612.27M |
| IBCP Independent Bank Corp | 8.82 | $520.13M |
| SRCE 1St Source Corp | 10.37 | $1.26B |
| FITB Fifth Third Bancorp | 11.38 | $25.04B |
| MCBC Macatawa Bank Corp | 11.92 | $491.37M |
The price to earnings ratio for MBWM stock is 7.31 as of May 1, 2024.
The average PE ratio for MBWM stock over the past 3 years is 8.25.
The average PE ratio for MBWM stock over the past 5 years is 8.91.
The highest quarterly PE ratio in the last ten years has been 19.23 and it was in the Dec 2016 quarter.
The current price to earnings ratio of MBWM is 40% lower than the 10-year historical average.
A company with a lower PE ratio may indicate that the market has lower growth expectations for the company's future earnings.
The P/E ratio is obtained by dividing the latest price of a stock by its trailing twelve months EPS. As of today (May 1, 2024), Mercantile Bank's stock price is $37.49. The earnings per share for the trailing twelve months (TTM) ending Dec 2023 is $5.13. Therefore, Mercantile Bank's PE ratio for today is 7.31. PE RATIO(7.31) = STOCK PRICE($37.49) / TTM EPS($5.13)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.