Merchants Bancorp (NASDAQ:MBIN) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen downgraded shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) from a hold rating to a sell rating in a report published on Sunday morning.

Several other analysts have also weighed in on MBIN. Raymond James reiterated an "outperform" rating and issued a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Morgan Stanley reduced their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th.

Merchants Bancorp Trading Down 1.5%

Shares of MBIN traded down $0.48 during mid-day trading on Friday, reaching $31.36. 105,458 shares of the company were exchanged, compared to its average volume of 178,865. The business has a 50 day simple moving average of $32.66 and a two-hundred day simple moving average of $36.91. 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 stock has a market capitalization of $1.44 billion, a PE ratio of 4.97 and a beta of 1.31. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. On average, analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. Merchants Bancorp's dividend payout ratio (DPR) is presently 7.35%.

Hedge Funds Weigh In On Merchants Bancorp

Institutional investors have recently modified their holdings of the company. Elser Financial Planning Inc acquired a new stake in Merchants Bancorp in the 4th quarter valued at $994,207,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Merchants Bancorp by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,841 shares of the company's stock valued at $3,276,000 after buying an additional 4,485 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Merchants Bancorp by 3.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock valued at $8,221,000 after buying an additional 6,882 shares during the last quarter. Rhumbline Advisers increased its position in shares of Merchants Bancorp by 4.4% during the fourth quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock worth $1,049,000 after acquiring an additional 1,201 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp in the 4th quarter worth about $25,000. 24.57% of the stock is owned by institutional investors and hedge funds.

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.