Merchants Bancorp (NASDAQ:MBIN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Merchants Bancorp (NASDAQ:MBIN – Get Rating) from a sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

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. “

Merchants Bancorp stock opened at $23.28 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The business’s fifty day simple moving average is $26.19 and its two-hundred day simple moving average is $29.11. Merchants Bancorp has a 12 month low of $22.11 and a 12 month high of $33.57. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.65 and a beta of 1.06.

Merchants Bancorp (NASDAQ:MBIN – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The business had revenue of $100.32 million for the quarter, compared to the consensus estimate of $100.40 million. Merchants Bancorp had a return on equity of 28.10% and a net margin of 47.17%. On average, equities research analysts predict that Merchants Bancorp will post 3.98 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, March 14th. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.06. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.60%.

In related news, Vice Chairman Randall D. Rogers purchased 12,145 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were purchased at an average price of $24.50 per share, with a total value of $297,552.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 40.75% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MBIN. Marshall Wace LLP purchased a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $62,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Merchants Bancorp by 49.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,486 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Merchants Bancorp by 72.7% in the third quarter. BNP Paribas Arbitrage SA now owns 2,856 shares of the company’s stock worth $113,000 after buying an additional 1,202 shares during the last quarter. Exane Derivatives purchased a new position in shares of Merchants Bancorp in the first quarter worth approximately $114,000. Finally, Barclays PLC raised its stake in Merchants Bancorp by 165.3% during the 3rd quarter. Barclays PLC now owns 4,203 shares of the company’s stock worth $166,000 after acquiring an additional 2,619 shares during the period. 14.78% of the stock is currently owned by hedge funds and other institutional investors.

About Merchants Bancorp (Get Rating)

Merchants Bancorp operates as the diversified bank holding company in the United States. The company 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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