Merchants Bancorp (NASDAQ:MBIN) Stock Rating Cut to Hold at Zacks Research

by · The Markets Daily

Merchants Bancorp (NASDAQ:MBIN – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley set a $65.00 price target on shares of Merchants Bancorp and gave the company an “equal weight” rating in a report on Tuesday, September 8th. Raymond James Financial downgraded shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler reissued an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.50.

Check Out Our Latest Report on Merchants Bancorp

Merchants Bancorp Price Performance

Shares of MBIN stock opened at $49.61 on Monday. Merchants Bancorp has a twelve month low of $30.37 and a twelve month high of $56.87. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 9.96 and a beta of 1.14. The stock has a fifty day simple moving average of $52.85 and a two-hundred day simple moving average of $48.97. 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 – Get Free Report) last announced its quarterly 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. On average, analysts predict that Merchants Bancorp will post 5.57 EPS for the current fiscal year.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Julia Kaercher sold 9,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $55.20, for a total value of $496,800.00. Following the sale, the director directly owned 727,103 shares in the company, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 44.90% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of MBIN. BlackRock Inc. purchased a new position in Merchants Bancorp in the second quarter worth $205,260,000. Dimensional Fund Advisors LP boosted its holdings in Merchants Bancorp by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after acquiring an additional 102,087 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Merchants Bancorp during the second quarter valued at about $13,687,000. Bank of New York Mellon Corp acquired a new stake in Merchants Bancorp in the 2nd quarter worth approximately $11,719,000. Finally, Royal Bank of Canada increased its stake in Merchants Bancorp by 3.3% during the 1st quarter. Royal Bank of Canada now owns 212,852 shares of the company’s stock valued at $9,134,000 after purchasing an additional 6,899 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

(Get Free Report)

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.

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