Merchants Bancorp (NASDAQ:MBIN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Merchants Bancorp (NASDAQ:MBIN) have received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $50.00.

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

Merchants Bancorp Trading Down 1.7%

Shares of Merchants Bancorp stock opened at $46.66 on Thursday. The business has a fifty day simple moving average of $47.62 and a two-hundred day simple moving average of $43.60. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $51.47. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.38 and a beta of 1.14. 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 released its quarterly earnings data on Tuesday, April 28th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. The firm had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. Research analysts forecast that Merchants Bancorp will post 5.15 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued 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 currently 10.73%.

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 in the last quarter. Invesco Ltd. grew its position in Merchants Bancorp by 1.5% during the fourth quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock worth $1,561,000 after buying an additional 667 shares in the last quarter. Swiss National Bank grew its position in Merchants Bancorp by 1.8% during the fourth quarter. Swiss National Bank now owns 40,700 shares of the company’s stock worth $1,386,000 after buying an additional 700 shares in the last quarter. Legal & General Group Plc increased its stake in Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after acquiring an additional 795 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Merchants Bancorp by 2.4% during the 1st quarter. Quantinno Capital Management LP now owns 34,926 shares of the company’s stock worth $1,499,000 after acquiring an additional 804 shares during the period. 24.57% of the stock is owned by institutional investors.

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.