Security Snapshot

MERCANTILE BANK CORP - Common Stock (MBWM) Institutional Ownership

CUSIP: 587376104

13F Institutional Holders and Ownership History from Q1 2014 to Q1 2026

Latest Period

Q4 2025

Institutions Reporting

191

Shares (Excl. Options)

10,703,392

Price

$48.10

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Type / Class
Equity / Common Stock
Symbol
MBWM on Nasdaq
Shares outstanding
17,191,417
Price per share
$50.50
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
10,703,392
Total reported value
$514,750,858
% of total 13F portfolios
0%
Share change
+71,473
Value change
+$4,327,028
Number of holders
191
Price from insider filings
$50.50
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Quick Takeaways

  • MBWM - MERCANTILE BANK CORP - Common Stock is tracked under CUSIP 587376104.
  • 191 institutions reported positions in Q4 2025.
  • 2 significant owners is listed from Schedule 13D/13G reporting.

What Changed

  • Holder count moved from 191 to 65 between Q4 2025 and Q1 2026.
  • Reported value moved from $514,750,858 to $124,608,092.

Why This Matters

  • You can quickly see who holds this security, then open quarter and manager detail pages for full evidence.
  • 13F and Schedule 13D/13G sections are kept together so you can cross-check institutional and beneficial ownership context.

Source Evidence

Source: SEC Form 13F

Latest holder context comes from 191 institutions filings for Q4 2025.

Open SEC Evidence

Investment Quick Answers

What is CUSIP 587376104?
CUSIP 587376104 identifies MBWM - MERCANTILE BANK CORP - Common Stock in SEC 13F datasets.

Where can I see the latest institutional holders?
Review the Q4 2025 holders report and the ownership history table below.

Significant Owners of MERCANTILE BANK CORP - Common Stock (MBWM) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
BlackRock, Inc. 7.5% $48,564,327 1,223,591 BlackRock, Inc. 31 Mar 2025
DIMENSIONAL FUND ADVISORS LP 6% $49,614,428 1,031,485 Dimensional Fund Advisors LP 31 Dec 2025

As of 31 Dec 2025, 191 institutional investors reported holding 10,703,392 shares of MERCANTILE BANK CORP - Common Stock (MBWM). This represents 62% of the company’s total 17,191,417 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of MERCANTILE BANK CORP - Common Stock (MBWM) together control 50% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution Ownership % Shares Held Share Change % Portfolio % Holdings Value
BlackRock, Inc. 8.4% 1,438,885 +0.48% 0% $69,210,361
VANGUARD GROUP INC 6.2% 1,066,368 +2.6% 0% $51,292,301
DIMENSIONAL FUND ADVISORS LP 6% 1,031,485 -1.6% 0.01% $49,614,163
AMERICAN CENTURY COMPANIES INC 3% 517,904 +4.8% 0.01% $24,911,182
RENAISSANCE TECHNOLOGIES LLC 2.9% 496,213 +1.2% 0.04% $23,867,845
STATE STREET CORP 2.6% 447,016 -5% 0% $21,501,470
GEODE CAPITAL MANAGEMENT, LLC 2.3% 402,616 -2.3% 0% $19,369,903
NORTH STAR ASSET MANAGEMENT INC 2.2% 374,544 +5.4% 0.73% $18,015,566
LSV ASSET MANAGEMENT 1.7% 295,086 -1.7% 0.03% $14,194,000
WELLINGTON MANAGEMENT GROUP LLP 1.7% 294,813 0% $14,180,506
Tributary Capital Management, LLC 1.3% 231,259 -7% 1.1% $11,123,571
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 1.2% 202,623 +0.45% 0.03% $9,746,166
JPMORGAN CHASE & CO 1.1% 195,038 -9.1% 0% $9,381,329
NORTHERN TRUST CORP 0.97% 166,998 -4% 0% $8,032,604
MORGAN STANLEY 0.93% 159,613 -5% 0% $7,677,468
AQR CAPITAL MANAGEMENT LLC 0.93% 159,564 -12% 0% $7,675,017
GOLDMAN SACHS GROUP INC 0.78% 133,499 +24% 0% $6,421,318
CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.78% 133,288 -0.06% 0% $6,411,153
BANC FUNDS CO LLC 0.76% 130,841 -18% 1.2% $6,293,452
ProShare Advisors LLC 0.76% 130,082 -0.27% 0.01% $6,256,945
TWO SIGMA INVESTMENTS, LP 0.7% 120,177 +54% 0.01% $5,780,514
BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.7% 120,133 +6.2% 0.12% $5,778,397
MERCER GLOBAL ADVISORS INC /ADV 0.64% 109,572 -0.92% 0.01% $5,270,395
Bank of New York Mellon Corp 0.54% 92,841 -3.6% 0% $4,465,659
Siena Capital Partners GP, LLC 0.49% 83,966 +320% 1.1% $4,038,765

Institutional Holders of MERCANTILE BANK CORP - Common Stock (MBWM) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2026 Q1 2,466,990 $124,608,092 +$1,320,380 $50.50 65
2025 Q4 10,703,392 $514,750,858 +$4,327,028 $48.10 191
2025 Q3 10,615,170 $477,695,297 +$7,571,481 $45.00 198
2025 Q2 10,419,226 $483,578,601 +$2,319,075 $46.41 194
2025 Q1 10,396,976 $451,661,203 +$3,757,697 $43.44 193
2024 Q4 10,287,097 $457,638,184 +$13,021,558 $44.49 178
2024 Q3 9,968,474 $435,506,245 +$4,609,690 $43.72 160
2024 Q2 9,838,535 $399,126,506 +$7,152,043 $40.57 160
2024 Q1 9,672,680 $372,329,145 +$6,993,581 $38.49 153
2023 Q4 9,445,794 $381,423,015 +$11,595,105 $40.38 141
2023 Q3 9,165,128 $283,289,338 +$4,561,025 $30.91 131
2023 Q2 9,053,634 $250,138,193 -$2,218,763 $27.62 116
2023 Q1 9,094,065 $278,024,632 +$6,327,631 $30.58 125
2022 Q4 8,974,884 $300,477,169 +$6,342,442 $33.48 131
2022 Q3 8,809,689 $261,750,434 -$3,007,806 $29.71 118
2022 Q2 8,859,006 $283,037,450 +$9,888,207 $31.95 126
2022 Q1 8,684,426 $307,673,794 +$7,351,559 $35.42 121
2021 Q4 8,476,688 $296,890,129 +$2,200,043 $35.03 118
2021 Q3 8,396,693 $268,843,156 -$6,585,348 $32.03 112
2021 Q2 8,601,304 $259,880,687 -$8,580,353 $30.20 110
2021 Q1 8,877,213 $288,413,414 -$3,697,437 $32.47 113
2020 Q4 8,992,541 $244,331,400 +$6,611,132 $27.17 99
2020 Q3 8,688,099 $156,565,475 -$3,248,352 $18.02 93
2020 Q2 8,843,279 $199,807,648 -$15,141 $22.60 98
2020 Q1 8,852,287 $187,375,046 -$9,538,073 $21.17 95
2019 Q4 9,164,300 $334,213,054 +$6,368,115 $36.47 110
2019 Q3 8,990,391 $294,887,884 +$160,827 $32.80 107
2019 Q2 8,986,142 $292,723,424 +$5,492,638 $32.58 102
2019 Q1 8,884,550 $290,696,548 -$2,077,150 $32.72 101
2018 Q4 8,941,903 $253,232,883 -$8,972,251 $28.26 102
2018 Q3 9,250,559 $308,678,031 +$5,630,117 $33.37 105
2018 Q2 9,077,627 $335,292,260 +$8,572,796 $36.96 104
2018 Q1 8,863,253 $294,705,324 +$3,635,039 $33.25 105
2017 Q4 8,772,031 $310,272,010 +$5,526,680 $35.37 96
2017 Q3 8,592,960 $299,900,248 -$3,358,176 $34.90 91
2017 Q2 8,710,003 $274,188,023 +$3,677,469 $31.48 89
2017 Q1 8,586,343 $295,371,842 +$44,877,026 $34.40 95
2016 Q4 8,099,151 $305,287,340 +$8,483,006 $37.70 91
2016 Q3 7,785,609 $208,981,116 +$5,671,253 $26.85 82
2016 Q2 7,614,332 $181,674,543 +$4,392,252 $23.86 83
2016 Q1 7,442,825 $166,911,906 +$3,474,997 $22.42 72
2015 Q4 7,285,964 $178,810,475 +$4,681,274 $24.54 75
2015 Q3 7,128,479 $148,126,200 -$950,978 $20.78 75
2015 Q2 7,160,712 $153,306,999 -$5,558,042 $21.41 66
2015 Q1 7,420,243 $145,031,361 -$1,335,548 $19.55 61
2014 Q4 7,484,810 $157,214,979 +$1,674,375 $21.02 64
2014 Q3 7,411,677 $141,196,053 +$2,802,732 $19.05 64
2014 Q2 7,233,043 $165,426,489 +$66,489,207 $22.88 68
2014 Q1 4,375,340 $90,208,050 +$4,172,664 $20.62 57
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