Merchants Bancorp (NASDAQ:MBIN) Stock Rating Lowered by Zacks Research

Merchants Bancorp (NASDAQ:MBIN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

MBIN has been the topic of several other reports. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Raymond James Financial lowered shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Finally, Morgan Stanley set a $65.00 target price on shares of Merchants Bancorp and gave the stock an “equal weight” rating in a research report on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.50.

Merchants Bancorp Stock Down 3.8%

Shares of NASDAQ:MBIN opened at $49.61 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $2.28 billion, a P/E ratio of 9.96 and a beta of 1.14. Merchants Bancorp has a 52-week low of $30.37 and a 52-week high of $56.87. The stock’s fifty day simple moving average is $52.85 and its 200-day simple moving average is $48.97.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%.The firm had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $179.00 million. As a group, equities research analysts forecast that Merchants Bancorp will post 5.57 earnings per share for the current fiscal year.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, Director Julia Kaercher sold 9,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the sale, the director directly owned 727,103 shares of the company’s stock, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MBIN. BlackRock Inc. acquired a new stake in shares of Merchants Bancorp in the second quarter worth approximately $205,260,000. Dimensional Fund Advisors LP grew its holdings in Merchants Bancorp by 6.2% in the first 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. Basswood Capital Management L.L.C. acquired a new position in Merchants Bancorp during the second quarter worth approximately $13,687,000. Bank of New York Mellon Corp increased its position in Merchants Bancorp by 43.7% during the first quarter. Bank of New York Mellon Corp now owns 236,146 shares of the company’s stock worth $10,133,000 after purchasing an additional 71,775 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Merchants Bancorp by 3.3% during the first quarter. Royal Bank of Canada now owns 212,852 shares of the company’s stock worth $9,134,000 after purchasing an additional 6,899 shares during the period. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

About Merchants Bancorp

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.