Merchants Bancorp (NASDAQ:MBIN) Announces Quarterly Earnings Results

Merchants Bancorp (NASDAQ:MBIN) posted its quarterly earnings data on Monday. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08), Yahoo Finance reports. The firm had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. During the same period in the previous year, the firm posted $1.31 earnings per share.

Merchants Bancorp Stock Up 1.2 %

Shares of MBIN traded up $0.53 during mid-day trading on Wednesday, reaching $44.79. The company had a trading volume of 151,833 shares, compared to its average volume of 179,548. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 1.06. The firm has a 50-day moving average price of $42.51 and a 200 day moving average price of $42.09. Merchants Bancorp has a 52 week low of $25.78 and a 52 week high of $53.27. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 6.95 and a beta of 1.12.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a $0.09 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Analyst Ratings Changes

Several research firms have weighed in on MBIN. Piper Sandler reaffirmed an “overweight” rating and set a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $58.00 in a research report on Tuesday.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.