Merchants Bancorp (NASDAQ:MBIN) Downgraded by Zacks Research to “Hold”

Merchants Bancorp (NASDAQ:MBIN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other research firms have also commented on MBIN. Raymond James Financial lowered Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Morgan Stanley set a $65.00 target price on shares of Merchants Bancorp and gave the company an “equal weight” rating in a report on Tuesday, September 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp has an average rating of “Hold” and an average price target of $55.50.

Merchants Bancorp Trading Down 3.8%

Shares of Merchants Bancorp stock opened at $49.61 on Monday. The stock has a market cap of $2.28 billion, a PE ratio of 9.96 and a beta of 1.14. The firm has a fifty day moving average price of $52.85 and a 200 day moving average price of $48.97. Merchants Bancorp has a 1 year low of $30.37 and a 1 year high of $56.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.26. The company had revenue of $182.22 million for the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. Equities research analysts predict that Merchants Bancorp will post 5.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Julia Kaercher sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the transaction, the director directly owned 727,103 shares in the company, valued at $40,136,085.60. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 44.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBH Bank acquired a new stake in shares of Merchants Bancorp in the 2nd quarter worth $113,000. Capstone Investment Advisors LLC purchased a new position in shares of Merchants Bancorp during the 2nd quarter worth $951,000. Bank of America Corp DE acquired a new position in shares of Merchants Bancorp during the 2nd quarter valued at about $6,057,000. Basswood Capital Management L.L.C. purchased a new stake in shares of Merchants Bancorp in the second quarter valued at about $13,687,000. Finally, Jupiter Topco LLC acquired a new stake in Merchants Bancorp during the second quarter worth about $354,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.