Merchants Bancorp (NASDAQ:MBIN) Sets New 1-Year High – Here’s Why

Merchants Bancorp (NASDAQ:MBIN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.35 and last traded at $50.6550, with a volume of 17900 shares traded. The stock had previously closed at $50.36.

Analyst Upgrades and Downgrades

MBIN has been the subject of several recent research reports. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Zacks Research lowered shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research report on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and issued a $51.00 price target on shares of Merchants Bancorp in a report on Thursday, April 30th. Finally, Morgan Stanley restated a “positive” rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a research report on Monday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Merchants Bancorp Trading Down 0.7%

The firm’s fifty day moving average is $47.75 and its two-hundred day moving average is $43.00. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 2.68. The firm has a market cap of $2.30 billion, a P/E ratio of 12.20 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The firm had revenue of $175.25 million during the quarter, compared to analyst estimates of $174.30 million. Analysts predict that Merchants Bancorp will post 5.21 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 15th. Merchants Bancorp’s payout ratio is 10.73%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Merchants Bancorp by 4.4% in 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 in the last quarter. Invesco Ltd. increased its holdings in shares of Merchants Bancorp by 1.5% in the 4th quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock worth $1,561,000 after purchasing an additional 667 shares in the last quarter. Swiss National Bank raised its stake in shares of Merchants Bancorp by 1.8% in the fourth quarter. Swiss National Bank now owns 40,700 shares of the company’s stock worth $1,386,000 after purchasing an additional 700 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Merchants Bancorp by 3.8% in the second quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after purchasing an additional 795 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Merchants Bancorp by 2.4% during the first quarter. Quantinno Capital Management LP now owns 34,926 shares of the company’s stock valued at $1,499,000 after purchasing an additional 804 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors.

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.