As previously reported, Janney Montgomery Scott analyst John Rodis upgraded Mercantile Bank to Buy from Neutral with a fair value estimate of $43, up from $36, after the bank reported what the firm calls “another solid quarter.” Loan growth is expected to remain above peer levels, if below the FY23 pace, says the analyst, whose revised FY24 EPS estimate is $4.40 and FY25 estimate is $4.26.
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