Merchants Bancorp (NASDAQ:MBIN) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Merchants Bancorp (NASDAQ:MBIN) released its earnings results on Tuesday. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26, Zacks reports. The company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.55%.

Merchants Bancorp Price Performance

Shares of MBIN stock traded up $0.49 during trading hours on Thursday, reaching $54.77. The company had a trading volume of 6,078 shares, compared to its average volume of 234,331. Merchants Bancorp has a 12-month low of $28.75 and a 12-month high of $56.87. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.99 and a beta of 1.14. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a fifty day moving average of $48.50 and a 200-day moving average of $45.14.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s payout ratio is currently 10.73%.

Institutional Trading of Merchants Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Merchants Bancorp by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after acquiring an additional 1,153 shares during the period. Brevan Howard Capital Management LP increased its position in shares of Merchants Bancorp by 16.7% during the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock worth $228,000 after purchasing an additional 984 shares during the last quarter. Numerai GP LLC purchased a new stake in Merchants Bancorp in the 4th quarter valued at about $254,000. Inspire Advisors LLC acquired a new position in Merchants Bancorp in the fourth quarter valued at about $262,000. Finally, Caxton Associates LLP purchased a new position in Merchants Bancorp during the third quarter worth about $256,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley restated a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Zacks Research downgraded shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Piper Sandler restated an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a research note on Wednesday. Finally, Raymond James Financial lowered shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

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.