Merchants Bancorp (NASDAQ:MBIN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently weighed in on MBIN. Morgan Stanley dropped their target price on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Raymond James reiterated an “outperform” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $31.32 on Friday. The company’s fifty day moving average is $32.14 and its two-hundred day moving average is $36.37. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $53.27. The company has a market cap of $1.44 billion, a P/E ratio of 4.96 and a beta of 1.29.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Equities analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, June 13th. Merchants Bancorp’s payout ratio is currently 7.35%.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds have recently added to or reduced their stakes in MBIN. Allspring Global Investments Holdings LLC increased its holdings in Merchants Bancorp by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,841 shares of the company’s stock worth $3,276,000 after buying an additional 4,485 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Merchants Bancorp by 3.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company’s stock worth $8,221,000 after purchasing an additional 6,882 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Merchants Bancorp by 4.4% during the 4th quarter. Rhumbline Advisers now owns 28,753 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,201 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp during the 4th quarter worth $25,000. Finally, New York State Common Retirement Fund increased its position in Merchants Bancorp by 22.2% during the fourth quarter. New York State Common Retirement Fund now owns 60,534 shares of the company’s stock worth $2,208,000 after buying an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.