Merchants Bancorp (NASDAQ:MBIN) Releases Earnings Results

Key Points

• Merchants Bancorp exceeded quarterly expectations, reporting earnings per share of $1.48 versus the $1.22 consensus estimate. Revenue totaled $182.22 million, also above expectations of $179.00 million, with a 13.40% return on equity and 16.64% net margin.
• Shares rose 0.8% to $48.77 following the results. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 11.90, and trades near its 52-week high of $51.47.
• The company declared a quarterly dividend of $0.11, equivalent to $0.44 annually and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $50.00, while institutional investors own 24.57% of the stock.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) issued its earnings results on Tuesday. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.26, Zacks reports. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million.

Merchants Bancorp Stock Up 0.8%

MBIN traded up $0.40 on Tuesday, reaching $48.77. The company's stock had a trading volume of 117,196 shares, compared to its average volume of 234,747. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $51.47. The business's 50 day moving average is $48.26 and its 200 day moving average is $44.91. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 11.90 and a beta of 1.14.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Merchants Bancorp's dividend payout ratio is currently 10.73%.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Merchants Bancorp by 1.0% in the first quarter. Royal Bank of Canada now owns 220,170 shares of the company's stock worth $8,146,000 after buying an additional 2,101 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company's stock valued at $397,000 after acquiring an additional 449 shares during the last quarter. Jane Street Group LLC boosted its stake in Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company's stock valued at $1,216,000 after acquiring an additional 12,361 shares during the last quarter. Legal & General Group Plc grew its holdings in Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company's stock worth $717,000 after acquiring an additional 795 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Merchants Bancorp by 41.5% during the 2nd quarter. Rhumbline Advisers now owns 38,622 shares of the company's stock worth $1,277,000 after acquiring an additional 11,334 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MBIN. Piper Sandler reiterated an "overweight" rating and set a $58.00 target price on shares of Merchants Bancorp in a report on Wednesday, April 29th. Morgan Stanley restated a "positive" rating and issued a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Weiss Ratings raised shares of Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Raymond James Financial lowered shares of Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Finally, Zacks Research cut shares of Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

Merchants Bancorp Company Profile

Merchants Bancorp NASDAQ: MBIN is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company's primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.

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