Merchants Bancorp (NASDAQ:MBIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other research firms also recently commented on MBIN. Sandler O’Neill reaffirmed a “buy” rating on shares of Merchants Bancorp in a report on Thursday, August 2nd. Stephens downgraded Merchants Bancorp from an “overweight” rating to an “equal weight” rating and set a $21.00 target price on the stock. in a report on Wednesday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Merchants Bancorp has an average rating of “Buy” and an average target price of $21.60.
NASDAQ:MBIN opened at $22.75 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.03. Merchants Bancorp has a 52 week low of $17.25 and a 52 week high of $29.15. The company has a market cap of $637.29 million and a price-to-earnings ratio of 11.55.
Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, October 30th. The company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Merchants Bancorp had a return on equity of 17.99% and a net margin of 38.21%. The company had revenue of $35.39 million for the quarter, compared to the consensus estimate of $35.10 million. On average, research analysts forecast that Merchants Bancorp will post 2.12 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Merchants Bancorp by 141.8% in the 2nd quarter. BlackRock Inc. now owns 808,544 shares of the company’s stock worth $23,067,000 after purchasing an additional 474,220 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Merchants Bancorp in the 2nd quarter worth approximately $17,952,000. Northern Trust Corp lifted its holdings in shares of Merchants Bancorp by 111.4% in the 2nd quarter. Northern Trust Corp now owns 164,266 shares of the company’s stock worth $4,687,000 after purchasing an additional 86,547 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Merchants Bancorp by 111.1% in the 2nd quarter. Millennium Management LLC now owns 71,157 shares of the company’s stock worth $2,030,000 after purchasing an additional 37,443 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Merchants Bancorp by 61.4% in the 3rd quarter. First Trust Advisors LP now owns 65,479 shares of the company’s stock worth $1,664,000 after purchasing an additional 24,922 shares during the last quarter. 22.54% of the stock is currently owned by institutional investors and hedge funds.
About Merchants Bancorp
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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