Merchants Bancorp (NASDAQ:MBIN) Receives Consensus Recommendation of “Hold” from Brokerages

Merchants Bancorp (NASDAQ:MBIN) has received an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.25.

Several research firms have weighed in on MBIN. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. UBS Group set a $42.00 target price on shares of Merchants Bancorp in a research note on Thursday, October 30th. Piper Sandler reiterated 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. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of Merchants Bancorp in a report on Wednesday, October 29th.

Hedge Funds Weigh In On Merchants Bancorp

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

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $35.37 on Thursday. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $43.82. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $1.62 billion, a P/E ratio of 8.13 and a beta of 1.25. The company has a fifty day moving average of $33.99 and a 200-day moving average of $33.00.

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

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 15th. Merchants Bancorp’s dividend payout ratio is 9.20%.

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.