Merchants Bancorp (NASDAQ:MBIN) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research lowered shares of Merchants Bancorp (NASDAQ:MBIN) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

Several other research analysts also recently weighed in on MBIN. Morgan Stanley set a $65.00 target price on Merchants Bancorp and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th. 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 reissued an “overweight” rating and issued a $64.00 price target on shares of Merchants Bancorp in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.50.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $49.61 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. Merchants Bancorp has a 52 week low of $30.37 and a 52 week high of $56.87. The stock’s 50-day moving average price is $52.85 and its 200-day moving average price is $48.97. The stock has a market capitalization of $2.28 billion, a PE ratio of 9.96 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts expect that Merchants Bancorp will post 5.57 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio is currently 8.84%.

Insider Buying and Selling

In other Merchants Bancorp news, Director Julia Kaercher sold 9,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 727,103 shares of the company’s stock, valued at $40,136,085.60. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 44.90% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of large investors have recently made changes to their positions in MBIN. NBH Bank acquired a new stake in shares of Merchants Bancorp in the second quarter valued at approximately $113,000. Gamco Investors INC. ET AL acquired a new position in Merchants Bancorp during the first quarter worth $215,000. Fifth Third Bancorp acquired a new position in Merchants Bancorp during the first quarter worth $270,000. Oregon Public Employees Retirement Fund purchased a new stake in Merchants Bancorp in the 1st quarter valued at $287,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Merchants Bancorp in the 1st quarter valued at $312,000. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Company Profile

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.