Mercantile Bank (MBWM Quick QuoteMBWM - Free Report) reported $58.23 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 5.2%. EPS of $1.34 for the same period compares to $1.31 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $55.2 million, representing a surprise of +5.49%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $1.14.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Mercantile Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Interest Margin: 3.7% compared to the 3.8% average estimate based on two analysts.
• Efficiency Ratio: 51.4% compared to the 54.2% average estimate based on two analysts.
• Total Noninterest Income: $10.87 million versus the two-analyst average estimate of $7.85 million.
• Net Interest Income: $47.36 million compared to the $46.85 million average estimate based on two analysts.

View all Key Company Metrics for Mercantile Bank here>>>

Shares of Mercantile Bank have returned +0.3% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.