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

by · The Cerbat Gem

Shares of Merchants Bancorp (NASDAQ:MBIN – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.50.

Several research analysts recently commented on MBIN shares. Morgan Stanley reissued a “positive” rating and set a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price target on shares of Merchants Bancorp in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday. Zacks Research cut Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st.

Check Out Our Latest Research Report on MBIN

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, Director Julia L. Kaercher sold 9,000 shares of the 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 trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Merchants Bancorp by 1.0% during the 1st quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock worth $8,146,000 after acquiring an additional 2,101 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Merchants Bancorp by 4.4% during 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 during the last quarter. Jane Street Group LLC lifted its holdings in Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock valued at $1,216,000 after purchasing an additional 12,361 shares during the last quarter. Legal & General Group Plc boosted its position in Merchants Bancorp by 3.8% during the second quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after purchasing an additional 795 shares during the period. Finally, Rhumbline Advisers boosted its position in Merchants Bancorp by 41.5% during the second quarter. Rhumbline Advisers now owns 38,622 shares of the company’s stock worth $1,277,000 after purchasing an additional 11,334 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Stock Performance

Merchants Bancorp stock opened at $55.18 on Monday. The firm has a 50-day moving average of $48.87 and a 200-day moving average of $45.42. Merchants Bancorp has a one year low of $28.75 and a one year high of $56.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, equities analysts expect that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s payout ratio is presently 8.84%.

About Merchants Bancorp

(Get Free Report)

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.

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