Merchants Bancorp (NASDAQ:MBIN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Merchants Bancorp (NASDAQ:MBIN) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $50.50.

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

Merchants Bancorp Stock Up 1.1%

Shares of MBIN stock opened at $50.11 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 2.68. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $51.00. The firm’s fifty day moving average price is $47.03 and its two-hundred day moving average price is $41.68. The firm has a market capitalization of $2.30 billion, a P/E ratio of 12.22 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) 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 firm had revenue of $175.25 million for the quarter, compared to analyst estimates of $174.30 million. On average, equities analysts predict that Merchants Bancorp will post 5.21 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Merchants Bancorp by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after purchasing an additional 102,087 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Merchants Bancorp by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after purchasing an additional 36,184 shares during the last quarter. Royce & Associates LP increased its stake in shares of Merchants Bancorp by 10.2% during the 3rd quarter. Royce & Associates LP now owns 862,119 shares of the company’s stock worth $27,415,000 after purchasing an additional 79,707 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Merchants Bancorp by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 715,394 shares of the company’s stock worth $24,371,000 after purchasing an additional 18,925 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Merchants Bancorp by 10.9% during the 3rd quarter. American Century Companies Inc. now owns 630,077 shares of the company’s stock worth $20,036,000 after purchasing an additional 62,097 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.