Merchants Bancorp (NASDAQ:MBIN) Issues Quarterly Earnings Results

Merchants Bancorp (NASDAQ:MBIN) issued its quarterly earnings results on Tuesday. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.22 by $0.26, Zacks reports. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The company had revenue of $182.22 million for the quarter, compared to the consensus estimate of $179.00 million.

Merchants Bancorp Price Performance

NASDAQ MBIN traded up $6.80 on Wednesday, reaching $55.57. The company’s stock had a trading volume of 44,473 shares, compared to its average volume of 233,347. The firm has a market cap of $2.55 billion, a PE ratio of 13.57 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 2.68. Merchants Bancorp has a 52 week low of $28.75 and a 52 week high of $56.87. The business has a 50-day moving average price of $48.34 and a 200 day moving average price of $45.01.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. Merchants Bancorp’s payout ratio is presently 10.73%.

Institutional Trading of Merchants Bancorp

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 purchasing an additional 449 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Merchants Bancorp by 1.5% during the fourth quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock worth $1,561,000 after buying an additional 667 shares in the last quarter. Swiss National Bank raised its stake in shares of Merchants Bancorp by 1.8% in the fourth quarter. Swiss National Bank now owns 40,700 shares of the company’s stock valued at $1,386,000 after acquiring an additional 700 shares during the last quarter. Legal & General Group Plc grew its position in Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after acquiring an additional 795 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in Merchants Bancorp by 6.6% in the 2nd quarter. Osaic Holdings Inc. now owns 14,376 shares of the company’s stock valued at $475,000 after purchasing an additional 884 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MBIN has been the subject of several research reports. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Raymond James Financial cut shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler restated an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday. Zacks Research lowered shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

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.