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$MBWM
$60.68 -$0.47 (0.77%) Close

Ownership

13F as of Q2 2026 · 17.3M shares outstanding

Who owns MBWM?

By type of holder
Institutions 69.4% Insiders 4.7% Everyone else 25.9%
Concentration Top 10 holders own 41.7%
BlackRock, Inc. 8.9% · Wellington Management Group LLP 6.3%
Institutional ownership
69.4%
+1.7 pts vs last qtr
Institutional holders
204
+3 vs last qtr
Net shares bought
+299.6K
by institutions in Q2 2026
New / sold out
32 / 29
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • BlackRock, Inc. +145.7K
  • State Street Corp +96.2K

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Biggest sellers in Q2 2026
  • ProShare Advisors LLC SOLD OUT −125.6K
  • Wellington Management Group LLP −101.0K

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Who is planning to sell?

No insider has filed a notice of proposed sale (Form 144) for Mercantile Bank Corporation in the last 12 months.

Is your stake being diluted?

Diluted share count, FY2015–FY2024
−3.1%
−0.35% a year
Each share's claim on the business
+3.2%
grew without buying or selling a share
Spent on buybacks vs paid in stock
$60.6M vs $25.7M
over 10 fiscal years
Diluted shares, split-adjusted
15.4M16.1M16.8M2015: 16.6M shares'152016: 16.3M shares'162017: 16.5M shares'172018: 16.6M shares'182019: 16.4M shares'192020: 16.3M shares'202021: 16.0M shares'212022: 15.9M shares'222023: 16.0M shares'232024: 16.1M shares'24
Buybacks Stock-based comp
$0$10.7M$21.4M2015 buybacks: $15.8M2015 stock comp: $684.0K'152016 buybacks: $3.7M2016 stock comp: $1.5M'162017 buybacks: $02017 stock comp: $2.0M'172018 buybacks: $5.9M2018 stock comp: $2.4M'182019 buybacks: $7.2M2019 stock comp: $2.9M'192020 buybacks: $6.6M2020 stock comp: $2.3M'202021 buybacks: $21.4M2021 stock comp: $3.8M'212022 buybacks: $02022 stock comp: $3.4M'222023 buybacks: $02023 stock comp: $3.4M'232024 buybacks: $02024 stock comp: $3.3M'24

How patient are the owners?

Institutional shares by how long they've been held
5+ years75% 3–5 years3% 1–3 years6% Under 1 year16%
Quarterly turnover
7.3%
of institutional shares changed hands
Top 10 managers, median time held
5 years

Super Investors

Investment managers reporting MBWM on Form 13F
B
BlackRock, Inc.
Shares
1.5M
% of company
8.88%
Change vs last qtr
+145.7K (+10.5%)
Held since
≤2021
WM
Wellington Management Group LLP
Shares
1.1M
% of company
6.29%
Change vs last qtr
−101.0K (−8.5%)
Held since
Q4 '25

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Institutional Funds

Mutual funds and ETFs reporting MBWM on Form N-PORT; together they hold 30.1% of the company
VT
Vanguard Total Stock Market Index Fund
Vanguard Index Funds
Position value
$29.9M
% of company
3.01%
% of the fund
0.00%
As of
June 30, 2026
IR
iShares Russell 2000 ETF
iShares Trust
Position value
$27.4M
% of company
2.76%
% of the fund
0.03%
As of
June 30, 2026

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
CC
Christmas Charles E
Insider
Shares
219.9K
% of company
1.27%
Change vs last qtr
—
Held since
—
KR
Kaminski Robert B
Insider
Shares
186.1K
% of company
1.08%
Change vs last qtr
—
Held since
—

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