Mercantile Bank price target raised to $57 from $56 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Mercantile Bank (MBWM) to $57 from $56 and keeps an Outperform rating on the shares. The majority of cost savings are not expected to be realized until early 2027 when Mercantile and Eastern Michigan Financial combine operating platforms, the analyst tells investors in a research note.