Merchants Bancorp (NASDAQ:MBIN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Merchants Bancorp (NASDAQ:MBINGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $50.50.

A number of research analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Merchants Bancorp in a report on Thursday, April 30th. Zacks Research downgraded shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $58.00 price target on shares of Merchants Bancorp in a report on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on shares of Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd.

Read Our Latest Research Report on Merchants Bancorp

Merchants Bancorp Stock Down 1.0%

Shares of NASDAQ:MBIN opened at $44.67 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 2.68. Merchants Bancorp has a 12 month low of $28.75 and a 12 month high of $50.26. The company has a 50-day moving average price of $45.18 and a 200 day moving average price of $39.74. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 10.90 and a beta of 1.16.

Merchants Bancorp (NASDAQ:MBINGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. The firm had revenue of $175.25 million during the quarter, compared to the consensus estimate of $174.30 million. As a group, equities research analysts predict that Merchants Bancorp will post 5.21 earnings per share for the current year.

Merchants Bancorp announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.11 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Merchants Bancorp’s dividend payout ratio is currently 10.73%.

Institutional Trading of Merchants Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Merchants Bancorp in the 4th quarter worth about $34,000. State of Alaska Department of Revenue purchased a new stake in Merchants Bancorp in the 3rd quarter worth about $57,000. Tower Research Capital LLC TRC raised its position 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 worth $73,000 after purchasing an additional 1,153 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Merchants Bancorp in the 1st quarter worth about $215,000. Finally, Fifth Third Bancorp purchased a new position in shares of Merchants Bancorp during the first quarter worth approximately $270,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

About Merchants Bancorp

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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.

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Analyst Recommendations for Merchants Bancorp (NASDAQ:MBIN)

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