For the quarter ended December 2023, Mercantile Bank (MBWM Quick QuoteMBWM - Free Report) reported revenue of $56.95 million, down 2.6% over the same period last year. EPS came in at $1.25, compared to $1.37 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $56 million, representing a surprise of +1.70%. The company delivered an EPS surprise of +2.46%, with the consensus EPS estimate being $1.22.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Mercantile Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Interest Margin: 3.9% compared to the 3.9% average estimate based on two analysts.
• Efficiency Ratio: 52.6% versus 51.2% estimated by two analysts on average.
• Total Noninterest Income: $8.30 million versus the two-analyst average estimate of $7.85 million.
• Net Interest Income: $48.65 million compared to the $48.65 million average estimate based on two analysts.

View all Key Company Metrics for Mercantile Bank here>>>

Shares of Mercantile Bank have returned -4.1% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.