MERCANTILE BK CORP MBWM
COM · Common Stock · CUSIP 587376104
- SectorFinancials
- IndustryState Commercial Banks
- HeadquartersGrand Rapids, MI
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.0m this quarter). Holder counts are more reliable. Shares outstanding: 17.3m as of 2026-07-24, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $57.39. Options: 0 managers hold calls (— notional), 1 hold puts ($5.7k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 124 |
| Q4 2022 | 130 |
| Q1 2023 | 128 |
| Q2 2023 | 118 |
| Q3 2023 | 133 |
| Q4 2023 | 142 |
| Q1 2024 | 155 |
| Q2 2024 | 162 |
| Q3 2024 | 161 |
| Q4 2024 | 178 |
| Q1 2025 | 195 |
| Q2 2025 | 197 |
| Q3 2025 | 200 |
| Q4 2025 | 192 |
| Q1 2026 | 200 |
| Q2 2026 | 207 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 73 | 63 |
| Q4 2024 | 93 | 55 |
| Q1 2025 | 104 | 69 |
| Q2 2025 | 86 | 85 |
| Q3 2025 | 102 | 77 |
| Q4 2025 | 73 | 104 |
| Q1 2026 | 93 | 71 |
| Q2 2026 | 104 | 84 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $9.0k | $9.0k | 1.00 |
| Q4 2025 | $9.6k | $19.2k | 2.00 |
| Q1 2026 | $0 | $0 | — |
| Q2 2026 | $0 | $5.7k | — |
Biggest buyers
| BlackRock, Inc. | Added | +145.7k |
| STATE STREET CORP | Added | +96.2k |
| Rhino Investment Partners, Inc | New | +93.9k |
| CITADEL ADVISORS LLC | Added | +64.2k |
| AMERICAN CENTURY COMPANIES INC | Added | +63.5k |
| MALTESE CAPITAL MANAGEMENT LLC | New | +60.0k |
| Abundance Wealth Counselors | New | +56.2k |
| HRT FINANCIAL LP | New | +48.9k |
| TWO SIGMA INVESTMENTS, LP | Added | +32.1k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +31.4k |
Biggest sellers
| ProShare Advisors LLC | Sold out | -125.6k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -101.0k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | Reduced | -85.3k |
| Empowered Funds, LLC | Reduced | -48.0k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -25.6k |
| Wakefield Asset Management LLLP | Sold out | -22.8k |
| Qube Research & Technologies Ltd | Sold out | -21.0k |
| LAZARD ASSET MANAGEMENT LLC | Sold out | -17.6k |
| GSA CAPITAL PARTNERS LLP | Sold out | -14.9k |
| Y-Intercept (Hong Kong) Ltd | Sold out | -14.0k |
Biggest calls
| None |
Biggest puts
| SIMPLEX TRADING, LLC | New | $5.7k100 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 7.5% |
| WELLINGTON MANAGEMENT GROUP LLP 13G · institution new · filed 2026-05-15 | 6.9% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution filed 2026-01-21 | 6.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 1 | $531.7k | $33.5k |
| Q1 2025 | 3 | $101.3k | 3 | $746.1k | $34.9k |
| Q2 2025 | 0 | — | 1 | $21.5k | $21.5k |
| Q3 2025 | 2 | $79.5k | 0 | — | — |
| Q4 2025 | 1 | $43.5k | 1 | $209.8k | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $88.1m | Added +145.7k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 1.1m $62.5m | Reduced -101.0k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.0m $60.1m | Added +14.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 735.6k $42.2m | Added +31.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 625.0k $35.9m | Added +63.5k |
| STATE STREET CORP 0.00% of their portfolio | 598.6k $34.4m | Added +96.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 466.4k $26.8m | Added +31.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 446.6k $25.6m | Reduced -25.6k |
| NORTH STAR ASSET MANAGEMENT INC 0.85% of their portfolio | 377.4k $21.7m | Reduced -5.8k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 290.1k $16.7m | Added +14.8k |
| LSV ASSET MANAGEMENT 0.03% of their portfolio | 280.8k $16.1m | Reduced -2.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 240.7k $13.8m | Added +8.1k |
| Tributary Capital Management, LLC 1.03% of their portfolio | 218.1k $12.5m | Reduced -6.5k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 213.7k $12.3m | Added +32.1k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 192.5k $11.1m | Added +1.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 144.2k $8.3m | Added +3.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 140.1k $8.0m | Reduced -8.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 137.7k $7.9m | Reduced -9.0k |
| BANC FUNDS CO LLC 1.24% of their portfolio | 131.2k $7.5m | Unchanged |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 127.9k $7.3m | Reduced -1.3k |
| MORGAN STANLEY 0.00% of their portfolio | 123.0k $7.1m | Reduced -4.2k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 112.7k $6.5m | Added +2.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 101.0k $5.8m | Reduced -11.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 98.1k $5.6m | Added +5.4k |
| Rhino Investment Partners, Inc 1.63% of their portfolio | 93.9k $5.4m | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 93.1k $5.3m | Added +64.2k |
| Siena Capital Partners GP, LLC 1.17% of their portfolio | 84.0k $4.8m | Unchanged |
| De Lisle Partners LLP 0.47% of their portfolio | 75.6k $4.3m | Unchanged |
| jvl associates llc 1.09% of their portfolio | 67.2k $3.9m | Added +1.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 64.9k $3.7m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 62.0k $3.6m | Reduced -3.9k |
| MALTESE CAPITAL MANAGEMENT LLC 0.63% of their portfolio | 60.0k $3.4m | New |
| Abundance Wealth Counselors 0.21% of their portfolio | 56.2k $3.2m | New |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 55.5k $3.2m | Added +2.4k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 55.2k $3.2m | Added +61 |
| Elizabeth Park Capital Advisors, Ltd. 2.02% of their portfolio | 51.0k $2.9m | Unchanged |
| HRT FINANCIAL LP 0.01% of their portfolio | 48.9k $2.8m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 48.4k $2.8m | Reduced -458 |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 47.3k $2.7m | Reduced -838 |
| Rosenthal | Henry Capital Advisors, Inc. 2.26% of their portfolio | 45.0k $2.6m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 41.0k $2.4m | Added +8.2k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 41.0k $2.4m | Reduced -85.3k |
| Quantinno Capital Management LP 0.00% of their portfolio | 40.9k $2.4m | Added +14.2k |
| Nuveen, LLC 0.00% of their portfolio | 39.6k $2.3m | Added +8.7k |
| Creative Planning 0.00% of their portfolio | 39.2k $2.3m | Added +2.8k |
| Swiss National Bank 0.00% of their portfolio | 32.9k $1.9m | Added +2.5k |
| Empowered Funds, LLC 0.01% of their portfolio | 31.0k $1.8m | Reduced -48.0k |
| LaFleur & Godfrey LLC 0.21% of their portfolio | 30.6k $1.8m | Reduced -904 |
| Curi Capital, LLC 0.02% of their portfolio | 26.7k $1.5m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 26.5k $1.5m | Reduced -9.1k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 25.3k $1.5m | Reduced -82 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 24.1k $1.4m | Reduced -168 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 24.0k $1.4m | Reduced -12.7k |
| Invesco Ltd. 0.00% of their portfolio | 23.7k $1.4m | Added +1.1k |
| XTX Topco Ltd 0.02% of their portfolio | 23.1k $1.3m | Added +14.4k |
| Focus Partners Advisor Solutions, LLC 0.01% of their portfolio | 22.7k $1.3m | Reduced -705 |
| CREDIT AGRICOLE S A 0.00% of their portfolio | 22.4k $1.3m | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 21.9k $1.3m | Added +743 |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 21.8k $1.2m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 21.6k $1.1m | Added +16 |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 21.4k $1.2m | Added +821 |
| Man Group plc 0.00% of their portfolio | 19.9k $1.1m | Added +3.5k |
| Discipline Wealth Solutions, LLC 0.10% of their portfolio | 19.8k $1.1m | Unchanged |
| Cerity Partners LLC 0.00% of their portfolio | 19.6k $1.1m | Reduced -1.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 19.4k $1.1m | Added +1.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 19.0k $1.1m | Added +3.6k |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 18.0k $1.0m | Added +2.4k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 17.9k $1.0m | Added +5.3k |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 17.7k $1.0m | Reduced -2.4k |
| BAILARD, INC. 0.02% of their portfolio | 17.6k $1.0m | Added +200 |
| CITIGROUP INC 0.00% of their portfolio | 17.6k $1.0m | Added +6.5k |
| Baird Financial Group, Inc. 0.00% of their portfolio | 17.5k $1.0m | Unchanged |
| Pathstone Holdings, LLC 0.00% of their portfolio | 17.4k $998.2k | Reduced -569 |
| Round Hill Asset Management 0.62% of their portfolio | 16.9k $971.8k | Unchanged |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.02% of their portfolio | 16.2k $927.9k | Reduced -256 |
| FIDUCIARY FINANCIAL ADVISORS 0.09% of their portfolio | 15.9k $914.3k | New |
| CHICAGO TRUST Co NA 0.13% of their portfolio | 15.6k $895.2k | Unchanged |
| Atom Investors LP 0.08% of their portfolio | 15.1k $869.6k | New |
| STRS OHIO 0.00% of their portfolio | 14.4k $826.8k | Added +1.1k |
| LPL Financial LLC 0.00% of their portfolio | 14.3k $823.1k | Reduced -85 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 14.1k $812.0k | Added +2.8k |
| LVM CAPITAL MANAGEMENT LTD/MI 0.07% of their portfolio | 13.9k $797.0k | Reduced -100 |
| Hennion & Walsh Asset Management, Inc. 0.02% of their portfolio | 13.2k $759.0k | Reduced -76 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 12.9k $743.0k | Added +3.5k |
| Legal & General Group Plc 0.00% of their portfolio | 12.8k $732.2k | Reduced -1.8k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 12.7k $730.6k | Added +3.5k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 12.3k $622.8k | Unchanged |
| BLAIR WILLIAM & CO/IL 0.00% of their portfolio | 12.3k $704.9k | Added +87 |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 11.9k $683.3k | Unchanged |
| Inspire Investing, LLC 0.03% of their portfolio | 11.9k $681.4k | Added +1.7k |
| Daytona Street Capital LLC 0.49% of their portfolio | 11.9k $673.8k | Reduced -404 |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio | 11.7k $673.1k | Reduced -399 |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 11.6k $668.0k | New |
| Shakespeare Wealth Management, LLC 0.18% of their portfolio | 11.6k $664.6k | Unchanged |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 11.4k $655.0k | Unchanged |
| Strategies Wealth Advisors, LLC 0.06% of their portfolio | 11.1k $639.4k | Added +36 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 11.0k $626.3k | Reduced -341 |
| Bluebird Wealth Management LLC 0.53% of their portfolio | 10.6k $609.3k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 10.6k $609.0k | Reduced -953 |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 10.2k $583.0k | Added +119 |