Merchants Bancorp (MBIN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. The brokerage currently has $25.00 price objective on the stock.
According to Zacks, “Merchants Bancorp is a diversified bank holding company. It provides multi-family housing and health care facility financing, mortgage warehousing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking services, through its subsidiaries. Merchants Bancorp is based in Carmel, United States. “
MBIN has been the topic of several other research reports. Stephens started coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set an overweight rating and a $21.00 target price on the stock. SunTrust Banks started coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set a buy rating and a $22.00 target price on the stock. Sandler O’Neill started coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set a buy rating and a $21.00 target price on the stock. Finally, Raymond James Financial started coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set an outperform rating and a $20.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $22.00.
Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Thursday, December 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). equities analysts predict that Merchants Bancorp will post 1.82 earnings per share for the current year.
The company also recently announced a special dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, December 14th.
In other news, CFO John F. Macke bought 15,625 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $16.00 per share, with a total value of $250,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have purchased 18,687 shares of company stock worth $298,992.
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Merchants Bancorp Company Profile
Merchants Bancorp is a diversified bank holding bank. The Bank operate multiple lines of business with a focus on FHA multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking.
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