Merchants Bancorp (NASDAQ:MBIN) Reaches New 1-Year Low Following Weak Earnings

Shares of Merchants Bancorp (NASDAQ:MBIN - Get Free Report) hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $27.25 and last traded at $29.71, with a volume of 34042 shares traded. The stock had previously closed at $33.60.

The company reported $0.93 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $169.00 million.

Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's payout ratio is presently 7.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MBIN shares. Piper Sandler upped their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Finally, Morgan Stanley cut their price objective on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th.

Institutional Investors Weigh In On Merchants Bancorp

A number of large investors have recently bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in Merchants Bancorp during the 4th quarter worth about $25,000. Signaturefd LLC raised its position in Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after purchasing an additional 472 shares during the last quarter. CWM LLC lifted its holdings in Merchants Bancorp by 168.9% during the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock worth $50,000 after buying an additional 853 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Merchants Bancorp in the fourth quarter valued at about $79,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth approximately $82,000. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Stock Up 1.9 %

The firm's 50-day simple moving average is $35.53 and its 200 day simple moving average is $38.24. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The company has a market cap of $1.44 billion, a P/E ratio of 4.96 and a beta of 1.31.

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.