Merchants Bancorp (NASDAQ:MBIN) Shares Down 4.4% – Here’s Why

Merchants Bancorp (NASDAQ:MBIN) was down 4.4% on Friday . The stock traded as low as $34.92 and last traded at $34.8410. Approximately 67,218 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 173,873 shares. The stock had previously closed at $36.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MBIN shares. Raymond James Financial restated an “outperform” rating and set a $38.00 price objective (down previously from $40.00) on shares of Merchants Bancorp in a report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and set a $42.00 price target (up previously from $41.00) on shares of Merchants Bancorp in a research note on Thursday, October 30th. Morgan Stanley reiterated an “underperform” rating and set a $39.00 price objective (up from $34.00) on shares of Merchants Bancorp in a research note on Monday, September 29th. Zacks Research raised shares of Merchants Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.25.

Merchants Bancorp Price Performance

The firm has a market capitalization of $1.61 billion, a PE ratio of 8.07 and a beta of 1.25. The firm’s fifty day moving average price is $32.83 and its 200 day moving average price is $32.70. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.18. The firm had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.90 million. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%. As a group, equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 15th. Merchants Bancorp’s payout ratio is 9.20%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in Merchants Bancorp in the third quarter valued at approximately $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Merchants Bancorp by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after purchasing an additional 1,153 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Merchants Bancorp by 44.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after purchasing an additional 817 shares during the period. CWM LLC boosted its holdings in Merchants Bancorp by 121.6% during the second quarter. CWM LLC now owns 3,010 shares of the company’s stock worth $100,000 after buying an additional 1,652 shares in the last quarter. Finally, Matrix Trust Co boosted its holdings in Merchants Bancorp by 10.3% during the second quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock worth $140,000 after buying an additional 396 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Company Profile

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.