Merchants Bancorp (NASDAQ:MBIN) Announces Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Merchants Bancorp (NASDAQ:MBIN) announced its quarterly earnings data on Tuesday. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.26, Zacks reports. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The firm had revenue of $182.22 million during the quarter, compared to analyst estimates of $179.00 million.

Merchants Bancorp Stock Performance

MBIN stock traded up $0.40 during mid-day trading on Tuesday, reaching $48.77. The company had a trading volume of 117,196 shares, compared to its average volume of 234,747. Merchants Bancorp has a one year low of $28.75 and a one year high of $51.47. The stock has a market capitalization of $2.24 billion, a P/E ratio of 11.90 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 2.68. The stock’s 50-day simple moving average is $48.26 and its two-hundred day simple moving average is $44.91.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 10.73%.

Institutional Trading of Merchants Bancorp

A number of large investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Merchants Bancorp by 1.5% during the fourth quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock valued at $1,561,000 after buying an additional 667 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Merchants Bancorp by 200.7% in the 4th quarter. Mackenzie Financial Corp now owns 57,324 shares of the company’s stock worth $1,926,000 after buying an additional 38,262 shares in the last quarter. Numerai GP LLC bought a new position in Merchants Bancorp in the 4th quarter worth approximately $254,000. Man Group plc acquired a new stake in Merchants Bancorp in the 4th quarter valued at approximately $1,902,000. Finally, Inspire Investing LLC increased its position in Merchants Bancorp by 29.3% in the 4th quarter. Inspire Investing LLC now owns 18,536 shares of the company’s stock valued at $631,000 after acquiring an additional 4,202 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research report on Wednesday, April 29th. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Morgan Stanley restated 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, June 29th. Finally, Raymond James Financial downgraded shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

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.