Merchants Bancorp (NASDAQ:MBIN) Stock Rated “Moderate Buy” by Wall Street Analysts

Merchants Bancorp (NASDAQ:MBIN) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $55.50.

A number of analysts have issued reports on MBIN shares. Raymond James Financial lowered shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler reissued an “overweight” rating and issued a $64.00 price objective on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Morgan Stanley set a $65.00 target price on shares of Merchants Bancorp and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday, July 31st.

Insiders Place Their Bets

In related news, Director Julia Kaercher sold 9,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the sale, the director owned 727,103 shares in the company, valued at $40,136,085.60. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

A number of large investors have recently modified their holdings of MBIN. BlackRock Inc. bought a new stake in shares of Merchants Bancorp in the 2nd quarter worth about $205,260,000. Basswood Capital Management L.L.C. bought a new position in Merchants Bancorp during the 2nd quarter worth $13,687,000. Bank of New York Mellon Corp bought a new position in Merchants Bancorp during the 2nd quarter worth $11,719,000. Principal Financial Group Inc. acquired a new stake in Merchants Bancorp in the first quarter worth $6,120,000. Finally, Bank of America Corp DE acquired a new stake in Merchants Bancorp in the second quarter worth $6,057,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $51.55 on Tuesday. The stock’s fifty day moving average is $52.84 and its two-hundred day moving average is $48.91. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.89 and a current ratio of 1.21. The firm has a market capitalization of $2.37 billion, a P/E ratio of 10.35 and a beta of 1.14. Merchants Bancorp has a fifty-two week low of $30.37 and a fifty-two week high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to analyst estimates of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, research analysts anticipate that Merchants Bancorp will post 5.58 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Merchants Bancorp’s payout ratio is 8.84%.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.