Merchants Bancorp (NASDAQ:MBIN) Issues Earnings Results

Merchants Bancorp (NASDAQ:MBIN) released its quarterly earnings data on Monday. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25), RTT News reports. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The company had revenue of $355.67 million for the quarter, compared to the consensus estimate of $156.13 million. During the same period last year, the firm earned $1.68 earnings per share.

Merchants Bancorp Price Performance

MBIN stock traded down $0.07 during midday trading on Wednesday, reaching $35.96. The company had a trading volume of 219,685 shares, compared to its average volume of 179,612. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 5.66 and a beta of 1.09. The stock has a 50 day moving average price of $44.37 and a 200-day moving average price of $43.00. Merchants Bancorp has a 1-year low of $29.60 and a 1-year high of $53.27. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 13th. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Analysts Set New Price Targets

A number of research firms have commented on MBIN. Raymond James reduced their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday. Morgan Stanley assumed coverage on Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $48.00 target price (down previously from $56.00) on shares of Merchants Bancorp in a report on Wednesday.

Insider Activity at Merchants Bancorp

In related news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the transaction, the insider now owns 748,000 shares in the company, valued at $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Petrie sold 22,050 shares of Merchants Bancorp stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.