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Mercantile Bank (MBWM) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, Mercantile Bank (MBWM - Free Report) reported revenue of $57.96 million, down 0.4% over the same period last year. EPS came in at $1.22, compared to $1.30 in the year-ago quarter.
The reported revenue represents a surprise of +1.98% over the Zacks Consensus Estimate of $56.83 million. With the consensus EPS estimate being $1.18, the EPS surprise was +3.39%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Efficiency Ratio: 55.7% compared to the 54.4% average estimate based on three analysts.
Net Interest Margin: 3.5% compared to the 3.5% average estimate based on three analysts.
Net loan charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
Average Balances - Total earning assets (before allowance): $5.45 billion versus $5.32 billion estimated by two analysts on average.
Total Noninterest Income: $9.67 million compared to the $9.68 million average estimate based on three analysts.
Net Interest Income: $48.29 million compared to the $47.50 million average estimate based on three analysts.
Other income: $0.78 million versus the two-analyst average estimate of $0.81 million.
Interest rate swap income: $0.39 million compared to the $0.79 million average estimate based on two analysts.
Payroll services: $0.71 million versus $0.71 million estimated by two analysts on average.
Earnings on bank owned life insurance policies: $0.45 million versus $0.42 million estimated by two analysts on average.
Mortgage banking income: $3.33 million versus the two-analyst average estimate of $3.10 million.
Service charges on accounts: $1.75 million versus $1.60 million estimated by two analysts on average.
Shares of Mercantile Bank have returned -2.3% over the past month versus the Zacks S&P 500 composite's +4.3% 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.
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Mercantile Bank (MBWM) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, Mercantile Bank (MBWM - Free Report) reported revenue of $57.96 million, down 0.4% over the same period last year. EPS came in at $1.22, compared to $1.30 in the year-ago quarter.
The reported revenue represents a surprise of +1.98% over the Zacks Consensus Estimate of $56.83 million. With the consensus EPS estimate being $1.18, the EPS surprise was +3.39%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Efficiency Ratio: 55.7% compared to the 54.4% average estimate based on three analysts.
- Net Interest Margin: 3.5% compared to the 3.5% average estimate based on three analysts.
- Net loan charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Average Balances - Total earning assets (before allowance): $5.45 billion versus $5.32 billion estimated by two analysts on average.
- Total Noninterest Income: $9.67 million compared to the $9.68 million average estimate based on three analysts.
- Net Interest Income: $48.29 million compared to the $47.50 million average estimate based on three analysts.
- Other income: $0.78 million versus the two-analyst average estimate of $0.81 million.
- Interest rate swap income: $0.39 million compared to the $0.79 million average estimate based on two analysts.
- Payroll services: $0.71 million versus $0.71 million estimated by two analysts on average.
- Earnings on bank owned life insurance policies: $0.45 million versus $0.42 million estimated by two analysts on average.
- Mortgage banking income: $3.33 million versus the two-analyst average estimate of $3.10 million.
- Service charges on accounts: $1.75 million versus $1.60 million estimated by two analysts on average.
View all Key Company Metrics for Mercantile Bank here>>>Shares of Mercantile Bank have returned -2.3% over the past month versus the Zacks S&P 500 composite's +4.3% 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.