Zacks: Merchants Bancorp (MBIN) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Merchants Bancorp (NASDAQ:MBIN) have earned an average broker rating score of 1.25 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

Brokerages have set a one year consensus price objective of $23.00 for the company and are forecasting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Merchants Bancorp an industry rank of 168 out of 265 based on the ratings given to its competitors.

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A number of analysts have recently weighed in on the company. Zacks Investment Research cut Merchants Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. SunTrust Banks reissued a “buy” rating and issued a $23.00 price objective on shares of Merchants Bancorp in a research report on Tuesday, January 9th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Basswood Capital Management L.L.C. acquired a new stake in Merchants Bancorp during the 4th quarter worth about $33,907,000. BlackRock Inc. acquired a new stake in Merchants Bancorp during the 4th quarter worth about $6,327,000. Banc Funds Co. LLC acquired a new stake in Merchants Bancorp during the 4th quarter worth about $5,061,000. Endeavour Capital Advisors Inc. acquired a new stake in Merchants Bancorp during the 4th quarter worth about $4,846,000. Finally, Baird Financial Group Inc. acquired a new stake in Merchants Bancorp during the 4th quarter worth about $3,082,000. 21.09% of the stock is owned by institutional investors.

Merchants Bancorp stock traded down $0.33 during trading on Friday, hitting $22.40. The stock had a trading volume of 71,330 shares, compared to its average volume of 72,601. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. Merchants Bancorp has a 52-week low of $16.27 and a 52-week high of $23.76.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The business had revenue of $33.86 million during the quarter, compared to analyst estimates of $26.89 million. equities research analysts expect that Merchants Bancorp will post 2.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.07%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.05.

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About Merchants Bancorp

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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