Merchants Bancorp (NASDAQ:MBIN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Merchants Bancorp (NASDAQ:MBIN) have received a consensus rating of “Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.50.

Several equities analysts have commented on MBIN shares. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Morgan Stanley reaffirmed a “positive” rating and set a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday, July 31st. Finally, Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st.

Insider Buying and Selling

In related news, Director Julia Kaercher sold 9,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total value of $496,800.00. Following the completion of the sale, the director owned 727,103 shares in the company, valued at $40,136,085.60. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 44.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Merchants Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after acquiring an additional 449 shares during the period. Invesco Ltd. grew its stake in shares of Merchants Bancorp by 1.5% in the 4th quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock valued at $1,561,000 after purchasing an additional 667 shares during the last quarter. Swiss National Bank grew its stake in shares of Merchants Bancorp by 1.8% in the 4th quarter. Swiss National Bank now owns 40,700 shares of the company’s stock valued at $1,386,000 after purchasing an additional 700 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Merchants Bancorp by 3.8% in the second quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after purchasing an additional 795 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Merchants Bancorp by 2.4% in the first quarter. Quantinno Capital Management LP now owns 34,926 shares of the company’s stock valued at $1,499,000 after purchasing an additional 804 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

Shares of MBIN opened at $52.60 on Friday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.56 and a beta of 1.14. The firm’s fifty day simple moving average is $51.62 and its 200-day simple moving average is $47.87. Merchants Bancorp has a twelve month low of $30.37 and a twelve month high of $56.87. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $179.00 million. Equities analysts forecast that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Merchants Bancorp’s payout ratio is presently 8.84%.

About Merchants Bancorp

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.