Merchants Bancorp’s (NASDAQ:MBIN) lock-up period will expire on Wednesday, April 25th. Merchants Bancorp had issued 6,250,000 shares in its public offering on October 27th. The total size of the offering was $100,000,000 based on an initial share price of $16.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
MBIN has been the subject of several recent research reports. Zacks Investment Research downgraded Merchants Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. SunTrust Banks reaffirmed a “buy” rating and set a $23.00 price target on shares of Merchants Bancorp in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $21.60.
NASDAQ:MBIN opened at $21.08 on Friday. The firm has a market capitalization of $597.95 and a price-to-earnings ratio of 10.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.98 and a quick ratio of 0.64. Merchants Bancorp has a 1 year low of $16.27 and a 1 year high of $23.76.
Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The business had revenue of $33.86 million during the quarter, compared to analysts’ expectations of $26.89 million. sell-side analysts anticipate that Merchants Bancorp will post 2.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were given a $0.06 dividend. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, March 14th. This represents a $0.24 annualized dividend and a yield of 1.14%. Merchants Bancorp’s dividend payout ratio is presently 12.18%.
A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new position in Merchants Bancorp in the fourth quarter worth $116,000. Teachers Advisors LLC purchased a new position in Merchants Bancorp in the fourth quarter worth $164,000. Citadel Advisors LLC purchased a new position in Merchants Bancorp in the fourth quarter worth $205,000. Wells Fargo & Company MN purchased a new position in Merchants Bancorp in the fourth quarter worth $218,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Merchants Bancorp in the fourth quarter worth $220,000. Hedge funds and other institutional investors own 21.08% of the company’s stock.
About Merchants Bancorp
Merchants Bancorp operates as a bank holding company for Merchants Bank of Indiana that provides various banking products and services in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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