Merchants Bancorp (NASDAQ:MBIN) Cut to "Sell" at Wall Street Zen

Key Points

• Merchants Bancorp received a downgrade from a "hold" to a "sell" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock's performance.
• Piper Sandler and Morgan Stanley have also adjusted their price targets for the stock, with targets now set at $41.00 and $34.00, respectively.
• The company reported $0.60 earnings per share, significantly missing analysts' expectations of $1.12 for the last quarter.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Other research analysts have also issued reports about the company. Piper Sandler reissued an "overweight" rating and set a $41.00 price target (down from $42.00) on shares of Merchants Bancorp in a research report on Wednesday. Morgan Stanley dropped their price target on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Raymond James Financial reissued an "outperform" rating and set a $40.00 price target (down from $41.00) on shares of Merchants Bancorp in a research report on Tuesday.

Merchants Bancorp Stock Down 0.4%

Shares of Merchants Bancorp stock opened at $29.18 on Friday. The stock's fifty day moving average is $33.16 and its 200-day moving average is $35.55. The firm has a market capitalization of $1.34 billion, a PE ratio of 6.41 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.49. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $47.94.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The company had revenue of $179.20 million for the quarter, compared to analyst estimates of $161.10 million. Merchants Bancorp had a return on equity of 16.26% and a net margin of 18.06%. Equities analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Elser Financial Planning Inc acquired a new position in Merchants Bancorp in the 2nd quarter worth about $934,497,000. Dimensional Fund Advisors LP increased its position in Merchants Bancorp by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock worth $46,211,000 after purchasing an additional 132,841 shares during the last quarter. Vanguard Group Inc. increased its position in Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company's stock worth $45,657,000 after purchasing an additional 26,111 shares during the last quarter. Royce & Associates LP increased its position in Merchants Bancorp by 21.2% in the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company's stock worth $25,401,000 after purchasing an additional 120,262 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Merchants Bancorp by 8.0% in the 1st quarter. American Century Companies Inc. now owns 512,942 shares of the company's stock worth $18,979,000 after purchasing an additional 38,038 shares during the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.

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