Merchants Bancorp (NASDAQ:MBIN) Shares Down 4.4% – What’s Next?

Merchants Bancorp (NASDAQ:MBIN)’s share price dropped 4.4% on Friday . The stock traded as low as $34.92 and last traded at $34.8410. Approximately 67,218 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 173,873 shares. The stock had previously closed at $36.43.

Analyst Ratings Changes

Several analysts recently issued reports on MBIN shares. Weiss Ratings restated a “hold (c)” rating on shares of Merchants Bancorp in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of Merchants Bancorp in a report on Wednesday, October 29th. UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a research report on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $42.00 target price (up previously from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.25.

Merchants Bancorp Trading Down 3.7%

The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a market cap of $1.61 billion, a PE ratio of 8.07 and a beta of 1.25. The company has a fifty day simple moving average of $32.75 and a two-hundred day simple moving average of $32.67.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.18. Merchants Bancorp had a return on equity of 15.20% and a net margin of 17.73%.The business had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.90 million. Analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 15th. Merchants Bancorp’s dividend payout ratio is currently 9.20%.

Institutional Investors Weigh In On Merchants Bancorp

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in Merchants Bancorp by 1.1% in the first quarter. LPL Financial LLC now owns 48,429 shares of the company’s stock valued at $1,792,000 after purchasing an additional 526 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock valued at $45,657,000 after buying an additional 26,111 shares in the last quarter. Deutsche Bank AG grew its position in shares of Merchants Bancorp by 167.1% in the 1st quarter. Deutsche Bank AG now owns 41,595 shares of the company’s stock valued at $1,539,000 after buying an additional 26,022 shares during the last quarter. Invesco Ltd. raised its stake in Merchants Bancorp by 1.9% during the 1st quarter. Invesco Ltd. now owns 480,622 shares of the company’s stock worth $17,783,000 after acquiring an additional 9,192 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Merchants Bancorp in the first quarter valued at $5,275,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

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.