Merchants Bancorp (NASDAQ:MBIN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Merchants Bancorp has a consensus analyst rating of “Moderate Buy”, with three buy ratings and two hold ratings. The average 12-month price target is $50.00.
• The stock was trading at $46.66, down 1.7% on the day, and sits near its recent range of a $28.75 one-year low and $51.47 high. It has a market cap of about $2.14 billion.
• The company recently reported quarterly EPS of $1.25, topping estimates, and also paid a $0.11 quarterly dividend. That dividend annualizes to $0.44, yielding about 0.9%.

Shares of Merchants Bancorp (NASDAQ:MBIN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $50.00.

A number of research analysts have weighed in on the company. Weiss Ratings upgraded Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Zacks Research cut Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 30th. Raymond James Financial downgraded Merchants Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Morgan Stanley reissued a "positive" rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Finally, Piper Sandler restated an "overweight" rating and set a $58.00 target price on shares of Merchants Bancorp in a report on Wednesday, April 29th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Merchants Bancorp in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC grew its holdings in Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock worth $73,000 after purchasing an additional 1,153 shares during the period. Gamco Investors INC. ET AL acquired a new position in Merchants Bancorp during the first quarter worth approximately $215,000. Brevan Howard Capital Management LP increased its position in Merchants Bancorp by 16.7% during the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company's stock worth $228,000 after buying an additional 984 shares during the last quarter. Finally, Numerai GP LLC bought a new stake in Merchants Bancorp in the fourth quarter valued at approximately $254,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Trading Down 1.7%

Merchants Bancorp stock opened at $46.66 on Thursday. The firm has a 50-day moving average of $47.62 and a 200-day moving average of $43.60. Merchants Bancorp has a one year low of $28.75 and a one year high of $51.47. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 11.38 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The business had revenue of $175.25 million for the quarter, compared to the consensus estimate of $174.30 million. On average, equities analysts expect that Merchants Bancorp will post 5.15 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.11 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Merchants Bancorp's dividend payout ratio (DPR) is currently 10.73%.

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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