Merchants Bancorp (NASDAQ:MBIN) Shares Gap Down to $47.61

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $47.61, but opened at $43.20. Merchants Bancorp shares last traded at $42.85, with a volume of 332,693 shares changing hands.

Wall Street Analyst Weigh In

MBIN has been the topic of several recent analyst reports. Raymond James increased their price objective on Merchants Bancorp from $44.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 30th. Piper Sandler reaffirmed an "overweight" rating and set a $58.50 price objective (up from $53.00) on shares of Merchants Bancorp in a research report on Friday, May 3rd.

Merchants Bancorp Price Performance

The firm has a market capitalization of $1.85 billion, a PE ratio of 7.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. The firm has a 50-day simple moving average of $41.92 and a 200-day simple moving average of $39.74.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.37 by $0.43. Merchants Bancorp had a return on equity of 27.51% and a net margin of 23.55%. The firm had revenue of $355.05 million for the quarter, compared to the consensus estimate of $144.15 million. As a group, equities analysts forecast that Merchants Bancorp will post 6.6 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.84%. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.08. Merchants Bancorp's dividend payout ratio (DPR) is 5.65%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MBIN. Vanguard Group Inc. raised its stake in Merchants Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company's stock valued at $42,962,000 after purchasing an additional 24,122 shares during the period. Dimensional Fund Advisors LP raised its stake in Merchants Bancorp by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company's stock valued at $33,869,000 after purchasing an additional 102,051 shares during the period. Banc Funds Co. LLC raised its stake in Merchants Bancorp by 3.5% during the 4th quarter. Banc Funds Co. LLC now owns 527,700 shares of the company's stock valued at $22,469,000 after purchasing an additional 18,000 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Merchants Bancorp by 21.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,580 shares of the company's stock valued at $9,563,000 after purchasing an additional 39,248 shares during the period. Finally, Federated Hermes Inc. raised its stake in Merchants Bancorp by 42,253.6% during the 4th quarter. Federated Hermes Inc. now owns 217,274 shares of the company's stock valued at $9,252,000 after purchasing an additional 216,761 shares during the period. 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.