Zacks Investment Research Lowers Merchants Bancorp (MBIN) to Sell

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Zacks Investment Research cut shares of Merchants Bancorp (NASDAQ:MBIN) from a buy rating to a sell rating in a research report sent to investors on Wednesday.

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. “

Separately, ValuEngine upgraded shares of Merchants Bancorp from a sell rating to a hold rating in a research report on Wednesday, January 2nd.

NASDAQ MBIN traded up $0.12 on Wednesday, hitting $20.87. 177,037 shares of the company were exchanged, compared to its average volume of 43,063. The company has a market cap of $619.50 million, a price-to-earnings ratio of 10.59 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. Merchants Bancorp has a 1-year low of $18.85 and a 1-year high of $29.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $35.39 million for the quarter, compared to the consensus estimate of $35.10 million. Merchants Bancorp had a net margin of 38.21% and a return on equity of 17.63%. On average, equities analysts expect that Merchants Bancorp will post 2.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.24 annualized dividend and a yield of 1.15%. Merchants Bancorp’s dividend payout ratio (DPR) is 12.18%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. lifted its position in Merchants Bancorp by 1.4% during the 3rd quarter. Baird Financial Group Inc. now owns 159,511 shares of the company’s stock worth $4,004,000 after buying an additional 2,251 shares in the last quarter. Bank of America Corp DE lifted its position in Merchants Bancorp by 35.4% during the 2nd quarter. Bank of America Corp DE now owns 10,044 shares of the company’s stock worth $286,000 after buying an additional 2,628 shares in the last quarter. Teachers Advisors LLC lifted its position in Merchants Bancorp by 9.0% during the 3rd quarter. Teachers Advisors LLC now owns 33,012 shares of the company’s stock worth $839,000 after buying an additional 2,722 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Merchants Bancorp during the 2nd quarter worth about $109,000. Finally, Bank of New York Mellon Corp lifted its position in Merchants Bancorp by 10.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 59,897 shares of the company’s stock worth $1,523,000 after buying an additional 5,805 shares in the last quarter. Institutional investors and hedge funds own 22.39% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp operates as a diversified bank holding company in the United States. It operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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