Mercantile Bank Corporation (MBWM) Ownership
MBWM ownership summary
as of October 18, 2026- Institutions
- 71.0% of shares outstanding
- Insiders
- 3.10% of shares outstanding
- Shares outstanding
- 17.3M
- Float
- 16.8M shares available to trade
- Short interest
- 3.72% 626K shares short
- Days to cover
- 5.38 short interest up 5.2% vs prior month
- Institutions 71.05%
- Insiders 3.10%
- Other investors 25.85%
MBWM top institutional holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | BlackRock Inc | 8.88% | 1.5M | $89.9M | +145,678 (+10.5%) | June 30, 2026 |
| 2 | Wellington Management Company LLP | 6.29% | 1.1M | $63.8M | −101,033 (−8.5%) | June 30, 2026 |
| 3 | Dimensional Fund Advisors, Inc. | 6.06% | 1.0M | $61.4M | +13,953 (+1.4%) | June 30, 2026 |
| 4 | Vanguard Capital Management, LLC | 4.26% | 736K | $43.1M | +31,289 (+4.4%) | June 30, 2026 |
| 5 | American Century Companies Inc | 3.62% | 625K | $36.6M | +63,548 (+11.3%) | June 30, 2026 |
| 6 | State Street Corp | 3.46% | 599K | $35.1M | +96,173 (+19.1%) | June 30, 2026 |
| 7 | Geode Capital Management, LLC | 2.70% | 466K | $27.3M | +31,398 (+7.2%) | June 30, 2026 |
| 8 | Renaissance Technologies Corp | 2.58% | 447K | $26.2M | −25,600 (−5.4%) | June 30, 2026 |
| 9 | NorthStar Asset Management, Inc. | 2.18% | 377K | $22.1M | −5,753 (−1.5%) | June 30, 2026 |
| 10 | Vanguard Portfolio Management, LLC | 1.68% | 290K | $17.0M | +14,772 (+5.4%) | June 30, 2026 |
| 11 | LSV Asset Management | 1.62% | 281K | $16.5M | −2,400 (−0.8%) | June 30, 2026 |
| 12 | Northern Trust Corp | 1.39% | 241K | $14.1M | +8,068 (+3.5%) | June 30, 2026 |
| 13 | Tributary Capital Management, LLC | 1.26% | 218K | $12.8M | −6,486 (−2.9%) | June 30, 2026 |
| 14 | Two Sigma Investments LLC | 1.24% | 214K | $12.5M | +32,093 (+17.7%) | June 30, 2026 |
| 15 | Hotchkis & Wiley Capital Management LLC | 1.11% | 193K | $11.3M | +1,350 (+0.7%) | June 30, 2026 |
| 16 | Charles Schwab Investment Management Inc | 0.83% | 144K | $8.5M | +3,742 (+2.7%) | June 30, 2026 |
| 17 | JPMorgan Chase & Co | 0.81% | 140K | $8.2M | −8,761 (−5.9%) | June 30, 2026 |
| 18 | AQR Capital Management LLC | 0.80% | 138K | $8.1M | −8,987 (−6.1%) | June 30, 2026 |
| 19 | Banc Funds Co LLC | 0.76% | 131K | $7.7M | — | June 30, 2026 |
| 20 | Mercer Global Advisors Inc. | 0.74% | 128K | $7.5M | −1,334 (−1.0%) | June 30, 2026 |
Value at the latest close. Change = shares bought or sold in the latest quarterly filing (13F). In the top 20, 11 holders added 442K shares and 8 cut 160K.
MBWM top mutual fund and ETF holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | Avantis US Small Cap Value ETF | 3.25% | 562K | $32.9M | +408 (+0.1%) | September 30, 2026 |
| 2 | Vanguard MStar Total Stk Mkt Idx Invest | 3.01% | 520K | $30.5M | — | August 31, 2026 |
| 3 | iShares Russell 2000 ETF | 2.76% | 477K | $27.9M | +5,707 (+1.2%) | September 30, 2026 |
| 4 | DFA US Small Cap Value I | 1.35% | 234K | $13.7M | — | August 31, 2026 |
| 5 | T. Rowe Price Small-Cap Value | 1.15% | 199K | $11.6M | +198,683 (0.0%) | August 31, 2026 |
| 6 | Fidelity Small Cap Index | 1.09% | 189K | $11.1M | +1,766 (+0.9%) | July 31, 2026 |
| 7 | iShares Russell 2000 Value ETF | 0.98% | 170K | $10.0M | +258 (+0.2%) | September 30, 2026 |
| 8 | State Street® SPDR® S&PRgnllBkgETF | 0.97% | 167K | $9.8M | +4,992 (+3.1%) | September 30, 2026 |
| 9 | DFA US Targeted Value I | 0.76% | 132K | $7.7M | — | August 31, 2026 |
| 10 | Tributary Small Company Instl | 0.72% | 125K | $7.3M | −3,337 (−2.6%) | August 31, 2026 |
| 11 | DFA US Small Cap I | 0.60% | 103K | $6.0M | — | August 31, 2026 |
| 12 | Vanguard Russell 2000 ETF | 0.57% | 99K | $5.8M | +2,250 (+2.3%) | August 31, 2026 |
| 13 | Vanguard Dividend Appreciation ETF | 0.57% | 98K | $5.7M | — | August 31, 2026 |
| 14 | Dimensional US Small Cap Value ETF | 0.55% | 95K | $5.6M | +66 (+0.1%) | September 24, 2026 |
| 15 | Dimensional US Targeted Value ETF | 0.54% | 94K | $5.5M | — | September 30, 2026 |
| 16 | Schwab US Small-Cap ETF™ | 0.53% | 92K | $5.4M | +54 (+0.1%) | September 30, 2026 |
| 17 | Fidelity Extended Market Index | 0.50% | 86K | $5.1M | −1,535 (−1.7%) | August 31, 2026 |
| 18 | DFA US Micro Cap I | 0.37% | 64K | $3.8M | +258 (+0.4%) | August 31, 2026 |
| 19 | VT De Lisle America B USD | 0.35% | 61K | $3.6M | −1,500 (−2.4%) | September 30, 2026 |
| 20 | Dimensional US Small Cap ETF | 0.33% | 57K | $3.3M | — | September 30, 2026 |
Funds report holdings monthly or quarterly; dates differ by fund.
MBWM insider transactions
latest 3| Date | Name | Transaction | Price | Shares | Value |
|---|---|---|---|---|---|
| 2025-10-31 | Nelson F Sanchez | Buy | $43.50 | 1,000 | $43,500 |
| 2025-07-29 | Shoran R Williams | Buy | $47.28 | 200 | $9,456 |
| 2025-05-02 | Robert B Kaminski | Sell | $42.85 | 250 | $10,712 |
Reported trades by company officers, directors and other filers (including disclosures by members of Congress where EODHD lists them). "—" where the filing gives no share count.
MBWM shares outstanding
Year-end shares outstanding, adjusted for splits.
Who owns MBWM
Institutional investors own 71.0% of Mercantile Bank's shares and insiders 3.10%. The largest holder is BlackRock Inc with 8.88% of the shares (1.5M), as of June 30, 2026. Among the top 20 institutions, 11 added shares and 8 reduced their stake in the latest filings. Short interest is 3.72% of the float, or 5.38 days of average trading volume. The share count fell 4.3% since 2014.
Related: MBWM analyst forecast, MBWM key metrics, MBWM dividend history. See the MBWM stock overview for the latest quote and news.
MBWM ownership FAQ
Who owns the most Mercantile Bank stock?
The largest shareholders of Mercantile Bank are BlackRock Inc (8.88%), Wellington Management Company LLP (6.29%), Dimensional Fund Advisors, Inc. (6.06%), Vanguard Capital Management, LLC (4.26%), American Century Companies Inc (3.62%).
What percentage of Mercantile Bank is owned by institutions?
Institutions hold 71.0% of Mercantile Bank's shares outstanding; insiders hold 3.10%.
Which funds own Mercantile Bank?
The largest fund holders of Mercantile Bank are Avantis US Small Cap Value ETF (3.25%), Vanguard MStar Total Stk Mkt Idx Invest (3.01%), iShares Russell 2000 ETF (2.76%), DFA US Small Cap Value I (1.35%), T. Rowe Price Small-Cap Value (1.15%).
What is Mercantile Bank's short interest?
626K shares of Mercantile Bank were sold short, 3.72% of the float; at the average daily volume it would take 5.38 days to cover.
Are insiders buying or selling Mercantile Bank?
Of the latest 3 reported insider transactions in Mercantile Bank (since May 2, 2025), 2 were purchases and 1 were sales.
How many shares of Mercantile Bank are outstanding?
Mercantile Bank has 17.3M shares outstanding, of which 16.8M are in the public float.