Merchants Bancorp (NASDAQ:MBIN) Given Average Recommendation of “Hold” by Analysts

Merchants Bancorp (NASDAQ:MBIN) has received an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.25.

Several equities analysts have recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Zacks Research raised Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a report on Thursday, October 30th. Finally, Morgan Stanley restated an “underperform” rating and set a $39.00 price objective (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th.

Merchants Bancorp Stock Performance

Shares of MBIN opened at $33.72 on Friday. The firm has a 50-day moving average price of $33.06 and a 200 day moving average price of $32.77. The firm has a market capitalization of $1.55 billion, a PE ratio of 7.75 and a beta of 1.25. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $43.82. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 1.73.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.18. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%. The business had revenue of $171.07 million for the quarter, compared to analyst estimates of $163.90 million. On average, sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, December 15th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 9.20%.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp in the 2nd quarter worth $934,497,000. Dimensional Fund Advisors LP increased its stake in Merchants Bancorp by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,601,928 shares of the company’s stock worth $50,942,000 after purchasing an additional 61,622 shares in the last quarter. Vanguard Group Inc. raised its holdings in Merchants Bancorp by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,378,400 shares of the company’s stock worth $43,833,000 after buying an additional 22,440 shares during the period. Royce & Associates LP raised its holdings in Merchants Bancorp by 10.2% during the 3rd quarter. Royce & Associates LP now owns 862,119 shares of the company’s stock worth $27,415,000 after buying an additional 79,707 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Merchants Bancorp by 17.4% in the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock worth $22,539,000 after buying an additional 101,139 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.