Merchants Bancorp (NASDAQ:MBIN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Merchants Bancorp (NASDAQ:MBIN) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $50.50.

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

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds have recently modified their holdings of MBIN. Dimensional Fund Advisors LP lifted its stake in Merchants Bancorp by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock valued at $75,476,000 after purchasing an additional 102,087 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Merchants Bancorp by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock valued at $48,181,000 after buying an additional 36,184 shares during the period. Royce & Associates LP lifted its position 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 valued at $27,415,000 after buying an additional 79,707 shares during the last quarter. Geode Capital Management LLC lifted its position 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 valued at $24,371,000 after buying an additional 18,925 shares during the last quarter. Finally, American Century Companies Inc. grew its stake 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 Trading Up 0.6%

NASDAQ:MBIN opened at $49.09 on Friday. Merchants Bancorp has a 52 week low of $28.75 and a 52 week high of $51.00. The firm has a 50-day moving average price of $47.38 and a two-hundred day moving average price of $42.22. 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 firm has a market cap of $2.26 billion, a price-to-earnings ratio of 11.97 and a beta of 1.14.

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

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th. Merchants Bancorp’s dividend 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.