Merchants Bancorp (NASDAQ:MBIN) Issues Earnings Results, Misses Estimates By $0.32 EPS

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32), Zacks reports. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%.

Merchants Bancorp Stock Performance

NASDAQ MBIN traded up $1.16 during mid-day trading on Monday, reaching $33.60. 197,110 shares of the stock were exchanged, compared to its average volume of 191,826. Merchants Bancorp has a 1 year low of $30.73 and a 1 year high of $53.27. 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 business's 50 day moving average is $36.59 and its 200-day moving average is $38.68. The company has a market capitalization of $1.54 billion, a P/E ratio of 5.32 and a beta of 1.15.

Merchants Bancorp Increases Dividend

The company 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. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, March 14th. Merchants Bancorp's payout ratio is currently 6.34%.

Insiders Place Their Bets

In other news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 34.80% of the company's stock.

Analyst Upgrades and Downgrades

MBIN has been the topic of a number of recent research reports. Piper Sandler upped their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Raymond James cut their price objective on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th.

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.

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