Merchants Bancorp (NASDAQ:MBIN) Earns "Outperform" Rating from 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 reaffirmed their outperform rating on shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in a report published on Tuesday morning,Benzinga reports. They currently have a $40.00 target price on the stock, down from their prior target price of $41.00.

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

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN traded down $0.12 during trading on Tuesday, reaching $29.18. The stock had a trading volume of 409,101 shares, compared to its average volume of 176,329. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.88 and a current ratio of 1.20. The business has a fifty day moving average price of $33.21 and a 200-day moving average price of $35.59. The stock has a market cap of $1.34 billion, a PE ratio of 6.41 and a beta of 1.28. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $47.94.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly 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 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, equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal 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 dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 13th. Merchants Bancorp's dividend payout ratio (DPR) is currently 8.79%.

Institutional Investors Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in Merchants Bancorp by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 9,800 shares of the company's stock valued at $357,000 after acquiring an additional 381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Merchants Bancorp by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company's stock valued at $375,000 after acquiring an additional 392 shares during the last quarter. Matrix Trust Co lifted its holdings in Merchants Bancorp by 10.3% in the second quarter. Matrix Trust Co now owns 4,226 shares of the company's stock valued at $140,000 after acquiring an additional 396 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Merchants Bancorp by 3.8% in the first quarter. Victory Capital Management Inc. now owns 11,891 shares of the company's stock valued at $440,000 after acquiring an additional 432 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Merchants Bancorp by 182.2% in the first quarter. Signaturefd LLC now owns 731 shares of the company's stock valued at $27,000 after acquiring an additional 472 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

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.