Mercantile Bank (MBWM) Beats Q3 Earnings and Revenue Estimates

Group 1 - Mercantile Bank reported quarterly earnings of $1.22 per share, exceeding the Zacks Consensus Estimate of $1.18 per share, but down from $1.30 per share a year ago, representing an earnings surprise of 3.39% [1] - The company posted revenues of $57.96 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.98%, although this is a decrease from year-ago revenues of $58.21 million [2] - Over the last four quarters, Mercantile Bank has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2 - The stock has gained approximately 7.5% since the beginning of the year, while the S&P 500 has increased by 22.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.13 on revenues of $56.47 million, and for the current fiscal year, it is $4.82 on revenues of $228.33 million [7] - The Zacks Industry Rank for Banks - Midwest is currently in the top 35% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] Group 3 - The estimate revisions trend for Mercantile Bank is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]