Merchants Bancorp (NASDAQ:MBIN) Expected to Announce Quarterly Sales of $42.46 Million

Wall Street brokerages expect Merchants Bancorp (NASDAQ:MBIN) to report $42.46 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Merchants Bancorp’s earnings, with the lowest sales estimate coming in at $31.60 million and the highest estimate coming in at $48.77 million. Merchants Bancorp posted sales of $27.80 million during the same quarter last year, which suggests a positive year over year growth rate of 52.7%. The business is expected to report its next quarterly earnings report on Tuesday, May 5th.

On average, analysts expect that Merchants Bancorp will report full-year sales of $179.50 million for the current year, with estimates ranging from $158.80 million to $192.00 million. For the next fiscal year, analysts expect that the firm will report sales of $191.38 million, with estimates ranging from $169.80 million to $203.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Merchants Bancorp.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.34. The firm had revenue of $60.32 million during the quarter, compared to analysts’ expectations of $43.71 million. Merchants Bancorp had a return on equity of 19.24% and a net margin of 29.85%.

MBIN has been the subject of a number of recent research reports. ValuEngine cut Merchants Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. BidaskClub upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded Merchants Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, January 7th. Finally, Raymond James lifted their price objective on Merchants Bancorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd.

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Merchants Bancorp by 161.6% in the 2nd quarter. Bank of America Corp DE now owns 32,328 shares of the company’s stock valued at $551,000 after buying an additional 19,969 shares during the last quarter. Royal Bank of Canada grew its position in Merchants Bancorp by 71.1% in the 2nd quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $55,000 after buying an additional 1,350 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Merchants Bancorp by 1.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 57,350 shares of the company’s stock valued at $949,000 after buying an additional 767 shares during the last quarter. Rhumbline Advisers grew its position in Merchants Bancorp by 7.1% in the 3rd quarter. Rhumbline Advisers now owns 16,784 shares of the company’s stock valued at $278,000 after buying an additional 1,107 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Merchants Bancorp by 14,546.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 29,292 shares of the company’s stock valued at $484,000 after buying an additional 29,092 shares during the last quarter. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Merchants Bancorp stock traded down $0.17 during midday trading on Friday, reaching $21.12. 23,602 shares of the company were exchanged, compared to its average volume of 31,381. The company has a market capitalization of $606.27 million, a price-to-earnings ratio of 8.91 and a beta of 1.24. The firm’s 50-day simple moving average is $19.68 and its 200-day simple moving average is $17.71. Merchants Bancorp has a 1 year low of $14.64 and a 1 year high of $24.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 1.07.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

Recommended Story: Bid-Ask Spread

Get a free copy of the Zacks research report on Merchants Bancorp (MBIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Merchants Bancorp (NASDAQ:MBIN)

Receive News & Ratings for Merchants Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merchants Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.