Merchants Bancorp (NASDAQ:MBIN) Announces Quarterly Earnings Results

Merchants Bancorp (NASDAQ:MBIN) issued its quarterly earnings data on Monday. The company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.08), Yahoo Finance reports. Merchants Bancorp had a return on equity of 26.78% and a net margin of 23.14%. The company had revenue of $359.62 million during the quarter, compared to analysts’ expectations of $160.70 million. During the same quarter last year, the business earned $1.31 earnings per share.

Merchants Bancorp Trading Up 1.7 %

NASDAQ:MBIN traded up $0.74 during mid-day trading on Wednesday, hitting $45.00. 444,489 shares of the stock traded hands, compared to its average volume of 181,553. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 7.06 and a beta of 1.12. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. Merchants Bancorp has a 52 week low of $25.78 and a 52 week high of $53.27. The firm’s 50 day moving average is $42.51 and its two-hundred day moving average is $42.09.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.80%. Merchants Bancorp’s payout ratio is 5.65%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MBIN. Piper Sandler reaffirmed an “overweight” rating and issued a $56.00 target price (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James downgraded shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $58.00 in a 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.