Merchants Bancorp (NASDAQ:MBIN) Reaches New 52-Week Low After Earnings Miss

Merchants Bancorp (NASDAQ:MBIN) hit a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $27.25 and last traded at $29.71, with a volume of 34042 shares traded. The stock had previously closed at $33.60.

The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.32). The firm had revenue of $287.20 million during the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s payout ratio is 6.34%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MBIN. Piper Sandler boosted their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley reduced their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Raymond James reissued an “outperform” rating and set a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently modified their holdings of MBIN. Elser Financial Planning Inc acquired a new stake in Merchants Bancorp in the 4th quarter valued at $994,207,000. PL Capital Advisors LLC boosted its holdings in Merchants Bancorp by 3,547.0% in the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after purchasing an additional 6,678,788 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Merchants Bancorp by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after purchasing an additional 132,841 shares during the period. Royce & Associates LP boosted its holdings in Merchants Bancorp by 15.5% in the 4th quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock valued at $20,651,000 after purchasing an additional 76,056 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Merchants Bancorp by 11.5% during the 4th quarter. American Century Companies Inc. now owns 474,904 shares of the company’s stock worth $17,320,000 after acquiring an additional 48,881 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Stock Performance

The stock’s fifty day moving average price is $35.94 and its two-hundred day moving average price is $38.49. The company has a market cap of $1.38 billion, a P/E ratio of 4.77 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.