Merchants Bancorp (NASDAQ:MBIN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Merchants Bancorp (NASDAQ:MBIN) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $41.00.

A number of research analysts have commented on MBIN shares. Zacks Research upgraded shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price objective (up from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a report on Monday, December 29th. Finally, UBS Group set a $42.00 price target on Merchants Bancorp in a research note on Thursday, October 30th.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $47.63 on Monday. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $48.26. The firm has a market capitalization of $2.19 billion, a P/E ratio of 12.60 and a beta of 1.27. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. The company’s fifty day moving average price is $37.15 and its 200 day moving average price is $33.82.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. The company had revenue of $193.49 million during the quarter, compared to analysts’ expectations of $170.80 million. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%. As a group, sell-side analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp declared that its board has initiated a stock repurchase program on Wednesday, January 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a dividend of $0.10 per share. The ex-dividend date was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Merchants Bancorp’s dividend payout ratio is presently 10.58%.

Insider Transactions at Merchants Bancorp

In other news, insider Martin A. Schroeter sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $46.06, for a total value of $253,330.00. Following the completion of the sale, the insider directly owned 10,881 shares of the company’s stock, valued at $501,178.86. This trade represents a 33.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 34.80% 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 the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Merchants Bancorp during the 4th quarter worth $34,000. State of Alaska Department of Revenue purchased a new stake in Merchants Bancorp during the third quarter worth about $57,000. Tower Research Capital LLC TRC grew its position in Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after buying an additional 1,153 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Merchants Bancorp by 44.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after buying an additional 817 shares in the last quarter. Finally, CWM LLC increased its holdings in Merchants Bancorp by 121.6% in the second quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after buying an additional 1,652 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.