Merchants Bancorp (NASDAQ:MBIN) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Merchants Bancorp (NASDAQ:MBIN) posted its earnings results on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.34, Zacks reports. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%.

Merchants Bancorp Price Performance

MBIN traded down $0.38 during trading on Wednesday, reaching $34.95. The company’s stock had a trading volume of 276,298 shares, compared to its average volume of 130,122. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $34.41 and a two-hundred day simple moving average of $33.00. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 8.03 and a beta of 1.25. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $43.82.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 9.20%.

Institutional Trading of Merchants Bancorp

Several large investors have recently added to or reduced their stakes in MBIN. Caxton Associates LLP purchased a new position in Merchants Bancorp in the third quarter worth approximately $256,000. Dark Forest Capital Management LP raised its holdings in Merchants Bancorp by 39.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 49,723 shares of the company’s stock valued at $1,581,000 after buying an additional 14,043 shares during the period. XTX Topco Ltd lifted its position in Merchants Bancorp by 5.0% in the third quarter. XTX Topco Ltd now owns 29,057 shares of the company’s stock valued at $924,000 after buying an additional 1,379 shares during the last quarter. Verition Fund Management LLC boosted its stake in Merchants Bancorp by 82.5% during the third quarter. Verition Fund Management LLC now owns 42,073 shares of the company’s stock worth $1,338,000 after buying an additional 19,020 shares during the period. Finally, Millennium Management LLC increased its position in shares of Merchants Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after acquiring an additional 210,151 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target (up previously from $41.00) on shares of Merchants Bancorp in a report on Thursday, October 30th. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. Raymond James Financial restated an “outperform” rating and set a $38.00 price target (down previously from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded Merchants Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Merchants Bancorp presently has a consensus rating of “Hold” and a consensus target price of $40.25.

Merchants Bancorp Company Profile

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.