Merchants Bancorp (NASDAQ:MBIN) Reaches New 12-Month High – Here’s Why

Merchants Bancorp (NASDAQ:MBIN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.35 and last traded at $50.6550, with a volume of 17900 shares. The stock had previously closed at $50.36.

Wall Street Analyst Weigh In

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

Merchants Bancorp Stock Down 0.5%

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 50-day simple moving average of $47.77 and a 200-day simple moving average of $43.19. The firm has a market capitalization of $2.29 billion, a PE ratio of 12.14 and a beta of 1.14.

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

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a dividend of $0.11 per share. 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 currently 10.73%.

Institutional Trading of Merchants Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of MBIN. Millennium Management LLC lifted its stake in shares of Merchants Bancorp by 135.6% during the 3rd quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after buying an additional 210,151 shares in the last quarter. Two Sigma Investments LP grew its stake in Merchants Bancorp by 1,509.5% in the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock valued at $5,589,000 after buying an additional 164,834 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Merchants Bancorp during the 1st quarter valued at $6,120,000. First Trust Advisors LP raised its holdings in Merchants Bancorp by 458.7% during the 4th quarter. First Trust Advisors LP now owns 141,145 shares of the company’s stock valued at $4,807,000 after acquiring an additional 115,881 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Merchants Bancorp by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock valued at $75,476,000 after purchasing an additional 102,087 shares during the period. Institutional investors own 24.57% of the company’s stock.

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.