Merchants Bancorp (NASDAQ:MBIN) Issues Quarterly Earnings Results, Beats Expectations By $0.67 EPS

Merchants Bancorp (NASDAQ:MBIN) issued its quarterly earnings data on Wednesday. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.67, FiscalAI reports. The firm had revenue of $224.94 million for the quarter, compared to analyst estimates of $182.95 million. Merchants Bancorp had a net margin of 22.73% and a return on equity of 17.89%.

Merchants Bancorp Trading Up 5.8%

Merchants Bancorp stock opened at $52.00 on Friday. Merchants Bancorp has a 52 week low of $30.37 and a 52 week high of $56.87. 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 $2.39 billion, a PE ratio of 8.57 and a beta of 1.21. The business’s 50-day simple moving average is $51.13 and its 200-day simple moving average is $47.41.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Merchants Bancorp’s payout ratio is presently 7.25%.

Analyst Upgrades and Downgrades

MBIN has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $68.00 target price (up from $63.00) on shares of Merchants Bancorp in a report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Thursday. Morgan Stanley set a $66.00 price objective on shares of Merchants Bancorp in a research note on Thursday. Finally, Zacks Research downgraded Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.67.

About Merchants Bancorp

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Through its principal subsidiary, Merchants Bank of Indiana, the company provides banking, mortgage banking and healthcare finance services to businesses, institutions and other clients.

The company’s mortgage banking operations offer financing and related services for multifamily and healthcare properties, including loans for apartment communities, senior housing and other specialized real estate.