Merchants Bancorp (NASDAQ:MBIN) Issues Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Merchants Bancorp (NASDAQ:MBIN) released its earnings results on Tuesday. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26, Zacks reports. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. The company had revenue of $182.22 million for the quarter, compared to analyst estimates of $179.00 million.

Merchants Bancorp Trading Up 0.8%

NASDAQ MBIN traded up $0.40 during mid-day trading on Tuesday, hitting $48.77. The company’s stock had a trading volume of 117,196 shares, compared to its average volume of 234,747. The firm has a market capitalization of $2.24 billion, a P/E ratio of 11.90 and a beta of 1.14. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89. Merchants Bancorp has a 52-week low of $28.75 and a 52-week high of $51.47. The stock’s fifty day simple moving average is $48.26 and its two-hundred day simple moving average is $44.91.

Merchants Bancorp Announces Dividend

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 was Monday, June 15th. This represents a $0.44 annualized dividend and a yield of 0.9%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 10.73%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Merchants Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in Merchants Bancorp by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after purchasing an additional 1,153 shares in the last quarter. Brevan Howard Capital Management LP boosted its position in shares of Merchants Bancorp by 16.7% in the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock worth $228,000 after buying an additional 984 shares during the period. Numerai GP LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at about $254,000. Caxton Associates LLP acquired a new stake in shares of Merchants Bancorp in the third quarter valued at about $256,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Merchants Bancorp during the 4th quarter valued at about $262,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

About Merchants Bancorp

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.