Merchants Bancorp (NASDAQ:MBIN) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analysts maintain a “Buy” consensus on Merchants Bancorp, with three buy ratings, one strong buy and one hold. The average 12-month price target is $51.50, though targets range up to $64.00.
• Merchants Bancorp exceeded quarterly expectations, reporting $1.48 in earnings per share versus the $1.22 consensus estimate and revenue of $182.22 million versus $179.00 million expected.
• The company declared a quarterly dividend of $0.11 per share, equivalent to an annualized payout of $0.44 and a 0.8% yield; institutional investors also increased their positions, bringing institutional ownership to 24.57%.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) has been assigned an average rating of "Buy" from the five research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $51.50.

MBIN has been the topic of a number of recent analyst reports. Raymond James Financial lowered shares of Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Zacks Research upgraded shares of Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Morgan Stanley reissued a "positive" rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Weiss Ratings restated a "buy (b-)" rating on shares of Merchants Bancorp in a report on Friday, July 31st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $64.00 price target on shares of Merchants Bancorp in a research report on Wednesday, July 29th.

Merchants Bancorp Stock Performance

MBIN opened at $53.26 on Friday. The company has a market cap of $2.45 billion, a PE ratio of 10.69 and a beta of 1.14. The stock has a 50-day moving average of $51.33 and a 200-day moving average of $47.66. Merchants Bancorp has a 52-week low of $30.37 and a 52-week high of $56.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.89 and a current ratio of 1.21.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.26. The business had revenue of $182.22 million for the quarter, compared to the consensus estimate 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 research analysts forecast that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 0.8%. Merchants Bancorp's dividend payout ratio is presently 8.84%.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, Director Julia L. Kaercher sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the sale, the director 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 filing with the SEC, which is available through this link. 44.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of Merchants Bancorp by 6,164.8% in the second quarter. California State Teachers Retirement System now owns 1,199,650 shares of the company's stock valued at $59,982,000 after acquiring an additional 1,180,501 shares during the period. NBH Bank bought a new position in Merchants Bancorp during the second quarter worth $113,000. Capstone Investment Advisors LLC bought a new stake in Merchants Bancorp in the 2nd quarter valued at $951,000. Bank of America Corp DE acquired a new stake in Merchants Bancorp in the 2nd quarter worth $6,057,000. Finally, Basswood Capital Management L.L.C. acquired a new stake in Merchants Bancorp in the 2nd quarter worth $13,687,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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