Merchants Bancorp (NASDAQ:MBIN) Sets New 1-Year High – Here’s Why

Merchants Bancorp (NASDAQ:MBIN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $51.35 and last traded at $50.6550, with a volume of 17900 shares. The stock had previously closed at $50.36.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MBIN. Zacks Research cut Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Morgan Stanley reaffirmed a “positive” rating and set a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a research note on Monday. Weiss Ratings upgraded shares of Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Piper Sandler reissued an “overweight” rating and issued a $58.00 price target on shares of Merchants Bancorp in a report on Wednesday, April 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Merchants Bancorp in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Merchants Bancorp Price Performance

The business has a fifty day moving average price of $47.75 and a 200-day moving average price of $43.00. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $2.30 billion, a PE ratio of 12.20 and a beta of 1.14.

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

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Merchants Bancorp’s dividend payout ratio (DPR) is 10.73%.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Merchants Bancorp by 135.6% during the 3rd quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after purchasing an additional 210,151 shares during the last quarter. Two Sigma Investments LP boosted its position in Merchants Bancorp by 1,509.5% during the third quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock valued at $5,589,000 after buying an additional 164,834 shares during the period. Principal Financial Group Inc. bought a new position in shares of Merchants Bancorp during the first quarter valued at about $6,120,000. First Trust Advisors LP grew its stake in shares of Merchants Bancorp by 458.7% during the fourth quarter. First Trust Advisors LP now owns 141,145 shares of the company’s stock valued at $4,807,000 after buying an additional 115,881 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Merchants Bancorp by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after buying an additional 102,087 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

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.