Merchants Bancorp (NASDAQ:MBIN) Given Average Rating of “Moderate Buy” by Brokerages

Merchants Bancorp (NASDAQ:MBIN) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $50.50.

Several analysts recently commented on the stock. Zacks Research downgraded shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $51.00 target price on shares of Merchants Bancorp in a report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $58.00 price objective on shares of Merchants Bancorp in a report on Wednesday, April 29th. Morgan Stanley boosted their price objective on shares of Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings raised shares of Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th.

Institutional Trading of Merchants Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Merchants Bancorp by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after acquiring an additional 102,087 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Merchants Bancorp by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after acquiring an additional 36,184 shares during the period. Royce & Associates LP lifted its holdings in shares of Merchants Bancorp by 10.2% during the 3rd quarter. Royce & Associates LP now owns 862,119 shares of the company’s stock worth $27,415,000 after acquiring an additional 79,707 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Merchants Bancorp by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 715,394 shares of the company’s stock worth $24,371,000 after acquiring an additional 18,925 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Merchants Bancorp by 10.9% during the 3rd quarter. American Century Companies Inc. now owns 630,077 shares of the company’s stock worth $20,036,000 after acquiring an additional 62,097 shares during the period. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of MBIN stock opened at $50.11 on Friday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.22 and a beta of 1.14. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.89 and a current ratio of 1.26. The company has a 50-day simple moving average of $47.03 and a 200 day simple moving average of $41.68. Merchants Bancorp has a 52 week low of $28.75 and a 52 week high of $51.00.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Tuesday, April 28th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. The business had revenue of $175.25 million during the quarter, compared to the consensus estimate of $174.30 million. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. On average, sell-side analysts predict that Merchants Bancorp will post 5.21 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Merchants Bancorp’s payout ratio is currently 10.73%.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.