MBWM
Mercantile Bank
PE ratio, current and historical analysis
- Stocks
- Financial Services
- NASDAQ: MBWM
- PE Ratio
The price-to-earnings ratio for Mercantile Bank stock stands at 9.12 as of Jun 3, 2026. This is calculated based on the current EPS of $5.58 and the stock price of $50.91 per share. An increase of 2.4% has been recorded in the PE ratio compared to the average of 8.9 of the last four quarters.
MBWM PE ratio history
Over the last ten years, the average PE ratio of Mercantile Bank has been 10.9. The current 9.12 P/E ratio is 16% 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.
Mercantile Bank PE ratio by year
Maximum annual increase: 434.91% in 2012
Maximum annual decrease: -40.01% in 2018
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 8.79 | -2.55% | $48.1 | $5.47 |
| 2024 | 9.02 | 14.61% | $44.49 | $4.93 |
| 2023 | 7.87 | -9.54% | $40.38 | $5.13 |
| 2022 | 8.7 | -8.32% | $33.48 | $3.85 |
| 2021 | 9.49 | -5.38% | $35.03 | $3.69 |
| 2020 | 10.03 | -17.24% | $27.17 | $2.71 |
| 2019 | 12.12 | 8.5% | $36.47 | $3.01 |
| 2018 | 11.17 | -40.01% | $28.26 | $2.53 |
| 2017 | 18.62 | -3.17% | $35.37 | $1.9 |
| 2016 | 19.23 | 27.69% | $37.7 | $1.96 |
| 2015 | 15.06 | -8.28% | $24.54 | $1.63 |
| 2014 | 16.42 | 49.14% | $21.02 | $1.28 |
| 2013 | 11.01 | -11.28% | $21.58 | $1.96 |
| 2012 | 12.41 | 434.91% | $16.5 | $1.33 |
| 2011 | 2.32 | N/A | $9.75 | $4.2 |
Mercantile Bank PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 9.05 | 2.96% | $50.5 | $5.58 |
| Dec 2025 | 8.79 | 2.93% | $48.1 | $5.47 |
| Sep 2025 | 8.54 | -7.48% | $45 | $5.27 |
| Jun 2025 | 9.23 | 2.21% | $46.41 | $5.03 |
| Mar 2025 | 9.03 | 0.11% | $43.44 | $4.81 |
| Dec 2024 | 9.02 | 2.5% | $44.49 | $4.93 |
| Sep 2024 | 8.8 | 9.59% | $43.72 | $4.97 |
| Jun 2024 | 8.03 | 7.5% | $40.57 | $5.05 |
| Mar 2024 | 7.47 | -5.08% | $38.49 | $5.15 |
| Dec 2023 | 7.87 | 33.62% | $40.38 | $5.13 |
| Sep 2023 | 5.89 | 5.75% | $30.91 | $5.25 |
| Jun 2023 | 5.57 | -19.28% | $27.62 | $4.96 |
| Mar 2023 | 6.9 | -20.69% | $30.58 | $4.43 |
| Dec 2022 | 8.7 | -5.74% | $33.48 | $3.85 |
| Sep 2022 | 9.23 | -8.7% | $29.71 | $3.22 |
MBWM Price vs fair value
MBWM average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, MBWM's PE ratio is higher than its 3 and 5-year historical averages, but it is lower than the 10-year average.
PE comparison
With a P/E of 9.12, MBWM stands below the Financial Services sector and the industry average. In comparison with its Financial Services sector average of 12.1, Mercantile Bank's P/E is 25% lower.
MBWM PE vs peers
MBWM's PE ratio stands lower than its peer stocks FITB and SRCE.
| Stock name | PE ratio | Market cap |
|---|---|---|
| MBWM Mercantile Bank Corp | 9.43 | $909.15M |
| IBCP Independent Bank Corp | 10.12 | $704.73M |
| SRCE 1St Source Corp | 11.45 | $1.8B |
| FITB Fifth Third Bancorp | 17.27 | $46.95B |
Frequently asked questions
What is Mercantile Bank's PE ratio?
The price to earnings ratio for MBWM stock is 9.12 as of Jun 3, 2026.
What is the 3-year average PE ratio for Mercantile Bank (MBWM)?
The average PE ratio for MBWM stock over the past 3 years is 8.11.
What is the 5-year average PE ratio for Mercantile Bank (MBWM)?
The average PE ratio for MBWM stock over the past 5 years is 8.44.
What is the highest PE ratio for MBWM?
The highest quarterly PE ratio in the last ten years has been 19.23 and it was in the Dec 2016 quarter.
How does the current PE ratio for MBWM compare to its historical average?
The current price to earnings ratio of MBWM is 16% lower than the 10-year historical average.
Why is Mercantile Bank's PE ratio so low?
A company with a lower PE ratio may indicate that the market has lower growth expectations for the company's future earnings.
How is MBWM's PE ratio calculated (Mercantile Bank PE ratio formula)?
The P/E ratio is obtained by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jun 3, 2026), Mercantile Bank's stock price is $50.91. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $5.58. Therefore, Mercantile Bank's PE ratio for today is 9.12. PE RATIO(9.12) = STOCK PRICE($50.91) / TTM EPS($5.58)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.