Merchants Bancorp (NASDAQ:MBIN) Issues Earnings Results

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) issued 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. Merchants Bancorp had a return on equity of 16.26% and a net margin of 18.06%. The firm had revenue of $179.20 million for the quarter, compared to analyst estimates of $161.10 million.

Merchants Bancorp Trading Up 0.5%

Shares of MBIN traded up $0.16 on Friday, hitting $29.46. 84,926 shares of the stock traded hands, compared to its average volume of 174,042. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.49. The firm has a market capitalization of $1.35 billion, a P/E ratio of 6.48 and a beta of 1.28. The stock's 50 day moving average is $33.21 and its two-hundred day moving average is $35.59. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $47.94.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. Merchants Bancorp's dividend payout ratio is presently 8.79%.

Analyst Ratings Changes

A number of research firms recently commented on MBIN. Morgan Stanley decreased their price objective on shares of Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday. Piper Sandler reissued an "overweight" rating and set a $41.00 price objective (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price target (down previously from $41.00) on shares of Merchants Bancorp in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently modified their holdings of MBIN. Jane Street Group LLC lifted its stake in shares of Merchants Bancorp by 60.3% during the first 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. Royal Bank of Canada increased its position in Merchants Bancorp by 1.0% during the first quarter. Royal Bank of Canada now owns 220,170 shares of the company's stock worth $8,146,000 after purchasing an additional 2,101 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Merchants Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company's stock worth $397,000 after acquiring an additional 449 shares in the last quarter. Hedge funds and other institutional investors 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.