Merchants Bancorp (NASDAQ:MBIN) Announces Earnings Results

Merchants Bancorp (NASDAQ:MBIN) announced its earnings results on Monday. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25), RTT News reports. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. The company had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the company posted $1.68 EPS.

Merchants Bancorp Trading Up 0.7 %

NASDAQ MBIN opened at $36.21 on Thursday. The company has a 50-day moving average of $44.21 and a 200-day moving average of $42.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78. Merchants Bancorp has a 12 month low of $29.60 and a 12 month high of $53.27. The company has a market cap of $1.57 billion, a P/E ratio of 5.65 and a beta of 1.09.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, September 13th. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Insider Buying and Selling

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Michael R. Dury acquired 5,200 shares of Merchants Bancorp stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $38.71 per share, with a total value of $201,292.00. Following the purchase, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at approximately $3,630,727.03. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MBIN. Raymond James decreased their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price target (down from $56.00) on shares of Merchants Bancorp in a research note on Wednesday. Finally, Morgan Stanley started coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective for the company.

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.