Brokerages forecast that Merchants Bancorp (NASDAQ:MBIN) will report $42.46 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Merchants Bancorp’s earnings, with the highest sales estimate coming in at $48.77 million and the lowest estimate coming in at $31.60 million. Merchants Bancorp reported sales of $27.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 52.7%. The business is expected to issue its next quarterly earnings report on Tuesday, May 5th.
According to Zacks, analysts expect that Merchants Bancorp will report full-year sales of $179.50 million for the current year, with estimates ranging from $158.80 million to $192.00 million. For the next financial year, analysts anticipate that the firm will post sales of $191.38 million, with estimates ranging from $169.80 million to $203.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Merchants Bancorp.
Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.58 by $0.34. The company had revenue of $60.32 million during the quarter, compared to analysts’ expectations of $43.71 million. Merchants Bancorp had a return on equity of 19.24% and a net margin of 29.85%.
MBIN has been the subject of several recent analyst reports. BidaskClub upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine cut Merchants Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Zacks Investment Research upgraded Merchants Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, January 7th. Finally, Raymond James lifted their price target on Merchants Bancorp from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.
MBIN traded down $0.17 during midday trading on Friday, hitting $21.12. The company’s stock had a trading volume of 23,602 shares, compared to its average volume of 31,381. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.38. The firm has a market cap of $606.27 million, a P/E ratio of 8.91 and a beta of 1.24. The firm has a 50-day moving average price of $19.68 and a two-hundred day moving average price of $17.71. Merchants Bancorp has a 52-week low of $14.64 and a 52-week high of $24.79.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC lifted its stake in shares of Merchants Bancorp by 1.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 57,350 shares of the company’s stock valued at $949,000 after purchasing an additional 767 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Merchants Bancorp by 44.1% in the 4th quarter. Citigroup Inc. now owns 2,929 shares of the company’s stock valued at $58,000 after purchasing an additional 897 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Merchants Bancorp by 7.1% in the 3rd quarter. Rhumbline Advisers now owns 16,784 shares of the company’s stock valued at $278,000 after purchasing an additional 1,107 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Merchants Bancorp by 71.1% in the 2nd quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $55,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at about $26,000. Institutional investors own 21.39% of the company’s stock.
About Merchants Bancorp
Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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