Merchants Bancorp (NASDAQ:MBIN) Given Outperform Rating at Raymond James Financial

Key Points

• Merchants Bancorp received an "outperform" rating from Raymond James Financial, with a target price of $40.00, indicating a potential upside of 23.93% from its previous close.
• Despite the positive rating from Raymond James, Wall Street Zen downgraded the company's shares from a "hold" to a "sell" rating on June 27th.
• The company's stock has seen a 7.9% decline, trading at $32.28, following disappointing earnings results that missed analysts' expectations.

Raymond James Financial reissued their outperform rating on shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $40.00 target price on the stock, down from their prior target price of $41.00.

Separately, Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

Merchants Bancorp Stock Performance

NASDAQ MBIN traded down $0.12 on Tuesday, hitting $29.18. 409,101 shares of the company's stock were exchanged, compared to its average volume of 181,839. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.20 and a quick ratio of 0.88. The firm's 50-day moving average price is $33.16 and its two-hundred day moving average price is $35.55. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $47.94. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 6.41 and a beta of 1.30.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The firm had revenue of $179.20 million during 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%. On average, research analysts expect that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, June 13th. Merchants Bancorp's dividend payout ratio is currently 8.79%.

Institutional Trading of Merchants Bancorp

Several large investors have recently added to or reduced their stakes in MBIN. Elser Financial Planning Inc acquired a new stake in shares of Merchants Bancorp during the second quarter valued at about $934,497,000. FJ Capital Management LLC acquired a new stake in shares of Merchants Bancorp during the first quarter valued at about $11,699,000. Nuveen LLC acquired a new stake in shares of Merchants Bancorp during the first quarter valued at about $5,275,000. Dimensional Fund Advisors LP grew its stake in shares of Merchants Bancorp by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock valued at $46,211,000 after acquiring an additional 132,841 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Merchants Bancorp by 21.2% during the first quarter. Royce & Associates LP now owns 686,507 shares of the company's stock valued at $25,401,000 after acquiring an additional 120,262 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Company Profile

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.