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

Merchants Bancorp (NASDAQ:MBIN) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $50.50.

MBIN has been the subject of a number of research reports. Zacks Research downgraded Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Morgan Stanley boosted their price objective on Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Merchants Bancorp in a research report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research note on Wednesday, April 29th.

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Merchants Bancorp in the 4th quarter valued at $34,000. State of Alaska Department of Revenue acquired a new position in Merchants Bancorp during the third quarter worth $57,000. Tower Research Capital LLC TRC lifted its holdings in shares of Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after acquiring an additional 1,153 shares during the period. Gamco Investors INC. ET AL bought a new position in shares of Merchants Bancorp during the first quarter valued at $215,000. Finally, Brevan Howard Capital Management LP boosted its stake in shares of Merchants Bancorp by 16.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock valued at $228,000 after purchasing an additional 984 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $46.78 on Wednesday. The firm’s 50-day moving average is $45.61 and its 200-day moving average is $40.26. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 11.41 and a beta of 1.16. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.89 and a current ratio of 1.26. Merchants Bancorp has a 52-week low of $28.75 and a 52-week high of $50.26.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. The business had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. Equities research analysts anticipate that Merchants Bancorp will post 5.21 earnings per share for the current year.

Merchants Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, January 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, June 15th. Merchants Bancorp’s payout ratio is 10.73%.

Merchants Bancorp Company Profile

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.