Merchants Bancorp (NASDAQ:MBIN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Merchants Bancorp (NASDAQ:MBIN) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.50.

A number of analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Merchants Bancorp in a research report on Thursday, April 30th. Morgan Stanley raised their price target on Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. 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. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Zacks Research cut Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th.

Institutional Trading of Merchants Bancorp

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of Merchants Bancorp by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after buying an additional 1,153 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Merchants Bancorp in the 1st quarter valued at approximately $215,000. Brevan Howard Capital Management LP lifted its holdings in shares of Merchants Bancorp by 16.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock valued at $228,000 after buying an additional 984 shares during the period. Finally, Numerai GP LLC acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at approximately $254,000. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $49.09 on Friday. Merchants Bancorp has a 52-week low of $28.75 and a 52-week high of $51.00. The business has a 50-day moving average price of $47.44 and a 200 day moving average price of $42.27. 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 has a market cap of $2.26 billion, a PE ratio of 11.97 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The company had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. Equities research analysts forecast that Merchants Bancorp will post 5.21 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 10.73%.

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.