Merchants Bancorp (NASDAQ:MBIN) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Merchants Bancorp (NASDAQ:MBIN) from a hold rating to a sell rating in a research note issued to investors on Sunday morning.

MBIN has been the subject of several other reports. Morgan Stanley cut their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Raymond James reissued an “outperform” rating and issued a $41.00 price target (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $31.84 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 5.05 and a beta of 1.31. The company has a 50 day moving average price of $32.66 and a 200-day moving average price of $36.91. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). The firm had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Equities research analysts forecast that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.40 annualized dividend and a yield of 1.26%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 7.35%.

Institutional Investors Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Merchants Bancorp during the 1st quarter worth $555,000. Jane Street Group LLC boosted its stake in Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock worth $1,216,000 after purchasing an additional 12,361 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after purchasing an additional 449 shares during the last quarter. FJ Capital Management LLC acquired a new stake in Merchants Bancorp during the 1st quarter worth $11,699,000. Finally, Royal Bank of Canada boosted its stake in Merchants Bancorp by 1.0% during the 1st quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock worth $8,146,000 after purchasing an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.