Merchants Bancorp (NASDAQ:MBIN) Issues Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Merchants Bancorp (NASDAQ:MBIN) announced its earnings results on Monday. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.32), Zacks reports. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million.

Merchants Bancorp Stock Performance

MBIN opened at $33.60 on Tuesday. The firm has a 50 day moving average of $36.41 and a two-hundred day moving average of $38.60. The firm has a market capitalization of $1.54 billion, a PE ratio of 5.32 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12-month low of $30.73 and a 12-month high of $53.27.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s dividend payout ratio is currently 6.34%.

Insider Buying and Selling at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 34.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price target on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Raymond James cut their price target on shares of Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler raised their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.