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

Shares of Merchants Bancorp (NASDAQ:MBIN) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $50.00.

MBIN has been the topic of several analyst reports. Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Morgan Stanley restated a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Piper Sandler restated an “overweight” rating and issued a $58.00 target price on shares of Merchants Bancorp in a research note on Wednesday, April 29th. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors have recently made changes to their positions in MBIN. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Merchants Bancorp during the fourth quarter worth $34,000. Tower Research Capital LLC TRC increased its holdings in Merchants Bancorp by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after buying an additional 1,153 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Merchants Bancorp in the first quarter valued at $215,000. Brevan Howard Capital Management LP raised its position in shares of Merchants Bancorp by 16.7% in the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock worth $228,000 after acquiring an additional 984 shares during the period. Finally, Numerai GP LLC acquired a new position in shares of Merchants Bancorp in the fourth quarter worth about $254,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Up 1.9%

NASDAQ:MBIN opened at $49.51 on Thursday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.08 and a beta of 1.14. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $51.47. The company’s fifty day moving average price is $47.77 and its 200-day moving average price is $44.09. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The firm had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. As a group, equities research analysts anticipate that Merchants Bancorp will post 5.15 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 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.