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

Shares of Merchants Bancorp (NASDAQ:MBIN) have earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $40.25.

A number of research firms have commented on MBIN. Weiss Ratings restated a “hold (c+)” rating on shares of Merchants Bancorp in a research note on Monday. Morgan Stanley restated an “underperform” rating and set a $39.00 price objective (up from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. UBS Group set a $42.00 target price on shares of Merchants Bancorp in a report on Thursday, October 30th. Zacks Research raised Merchants Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st.

Merchants Bancorp Price Performance

Shares of Merchants Bancorp stock opened at $33.86 on Friday. The stock has a market cap of $1.55 billion, a P/E ratio of 7.78 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 1.10. The stock’s fifty day moving average is $33.00 and its 200 day moving average is $32.76. Merchants Bancorp has a one year low of $27.25 and a one year high of $43.82.

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

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 9.20%.

Hedge Funds Weigh In On Merchants Bancorp

Several hedge funds have recently modified their holdings of MBIN. Elser Financial Planning Inc purchased a new position in Merchants Bancorp during the second quarter valued at $934,497,000. Dimensional Fund Advisors LP grew its position in shares of Merchants Bancorp by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,601,928 shares of the company’s stock valued at $50,942,000 after purchasing an additional 61,622 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Merchants Bancorp by 1.7% in the third quarter. Vanguard Group Inc. now owns 1,378,400 shares of the company’s stock worth $43,833,000 after purchasing an additional 22,440 shares during the last quarter. Royce & Associates LP lifted its position in shares of Merchants Bancorp by 10.2% in the third quarter. Royce & Associates LP now owns 862,119 shares of the company’s stock worth $27,415,000 after buying an additional 79,707 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Merchants Bancorp by 17.4% during the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock valued at $22,539,000 after buying an additional 101,139 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

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.