Zacks Investment Research upgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Merchants Bancorp is a diversified bank holding company. It provides multi-family housing and health care facility financing, mortgage warehousing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking services, through its subsidiaries. Merchants Bancorp is based in Carmel, United States. “
A number of other brokerages have also recently issued reports on MBIN. Stephens cut shares of Merchants Bancorp from an overweight rating to an equal weight rating and set a $21.00 target price on the stock. in a report on Wednesday, July 11th. Sandler O’Neill reissued a buy rating on shares of Merchants Bancorp in a report on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $21.60.
Shares of NASDAQ MBIN opened at $22.96 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.73 and a debt-to-equity ratio of 0.54. Merchants Bancorp has a 52-week low of $17.25 and a 52-week high of $29.15. The stock has a market capitalization of $671.73 million and a price-to-earnings ratio of 11.48.
Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, October 30th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Merchants Bancorp had a net margin of 38.21% and a return on equity of 17.99%. The firm had revenue of $35.39 million for the quarter, compared to analysts’ expectations of $35.10 million. As a group, analysts anticipate that Merchants Bancorp will post 2.12 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Merchants Bancorp during the second quarter valued at approximately $1,157,000. Valeo Financial Advisors LLC raised its holdings in shares of Merchants Bancorp by 329.6% during the second quarter. Valeo Financial Advisors LLC now owns 37,928 shares of the company’s stock valued at $976,000 after buying an additional 29,100 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Merchants Bancorp during the second quarter valued at approximately $109,000. BlackRock Inc. raised its holdings in shares of Merchants Bancorp by 141.8% during the second quarter. BlackRock Inc. now owns 808,544 shares of the company’s stock valued at $23,067,000 after buying an additional 474,220 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Merchants Bancorp by 111.1% during the second quarter. Millennium Management LLC now owns 71,157 shares of the company’s stock valued at $2,030,000 after buying an additional 37,443 shares during the last quarter. 22.54% of the stock is currently owned by institutional investors.
Merchants Bancorp Company Profile
Merchants Bancorp operates as a diversified bank holding company in the United States. It operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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