Merchants Bancorp (NASDAQ:MBIN) Posts Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Merchants Bancorp (NASDAQ:MBIN) issued its quarterly earnings results on Wednesday. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.94 by $0.34, Zacks reports. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%.

Merchants Bancorp Stock Down 1.1%

MBIN traded down $0.38 on Wednesday, hitting $34.95. The company had a trading volume of 276,298 shares, compared to its average volume of 130,122. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 8.03 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 1.10. The stock has a fifty day moving average price of $34.41 and a 200-day moving average price of $33.00. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $43.82.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, December 15th. Merchants Bancorp’s payout ratio is 9.20%.

Wall Street Analyst Weigh In

MBIN has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $42.00 price target (up from $41.00) on shares of Merchants Bancorp in a research note on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Wall Street Zen raised Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, UBS Group set a $42.00 price objective on Merchants Bancorp in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in Merchants Bancorp by 135.6% in the 3rd quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock worth $11,609,000 after acquiring an additional 210,151 shares during the last quarter. Two Sigma Investments LP grew its position in Merchants Bancorp by 1,509.5% during the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock worth $5,589,000 after purchasing an additional 164,834 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Merchants Bancorp by 4.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,601,928 shares of the company’s stock valued at $50,942,000 after buying an additional 61,622 shares during the last quarter. FJ Capital Management LLC boosted its stake in shares of Merchants Bancorp by 24.6% in the third quarter. FJ Capital Management LLC now owns 297,156 shares of the company’s stock worth $9,450,000 after buying an additional 58,576 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Merchants Bancorp by 48.0% during the second quarter. Ameriprise Financial Inc. now owns 133,325 shares of the company’s stock worth $4,409,000 after acquiring an additional 43,225 shares during the period. Institutional investors own 24.57% of the company’s stock.

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.