Merchants Bancorp (NASDAQ:MBIN) Posts Earnings Results, Misses Expectations By $0.52 EPS

Key Points

• Merchants Bancorp reported quarterly earnings of $0.60 EPS, falling short of analysts' expectations by $0.48.
• The company declared a quarterly dividend of $0.10 per share, translating to an annualized yield of 1.14%.
• In a recent analyst report, Wall Street Zen downgraded Merchants Bancorp's rating from "hold" to "sell", while Raymond James maintained an "outperform" rating but reduced its price target.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52), Zacks reports. The firm had revenue of $179.20 million for the quarter, compared to analyst estimates of $161.10 million. Merchants Bancorp had a return on equity of 19.09% and a net margin of 20.73%.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $35.06 on Tuesday. 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 stock has a market capitalization of $1.61 billion, a P/E ratio of 6.44 and a beta of 1.28. The company has a 50 day moving average price of $33.31 and a 200 day moving average price of $35.70. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. Merchants Bancorp's payout ratio is currently 7.35%.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds have recently made changes to their positions in MBIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Merchants Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company's stock valued at $397,000 after buying an additional 449 shares during the period. Jane Street Group LLC boosted its position in Merchants Bancorp by 60.3% in the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company's stock valued at $1,216,000 after buying an additional 12,361 shares during the period. Finally, Royal Bank of Canada boosted its position in Merchants Bancorp by 1.0% in the 1st quarter. Royal Bank of Canada now owns 220,170 shares of the company's stock valued at $8,146,000 after buying an additional 2,101 shares during the period. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Raymond James Financial restated an "outperform" rating and set a $41.00 price target (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th.

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.