Merchants Bancorp (NASDAQ:MBIN) Posts Earnings Results, Beats Expectations By $0.58 EPS

Merchants Bancorp (NASDAQ:MBIN) released its quarterly earnings data on Tuesday. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.58, Zacks reports. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%.

Merchants Bancorp Stock Performance

Shares of MBIN stock traded down $0.71 during mid-day trading on Tuesday, reaching $39.76. 329,153 shares of the company’s stock traded hands, compared to its average volume of 164,373. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market capitalization of $1.82 billion, a PE ratio of 6.58 and a beta of 1.14. Merchants Bancorp has a 12 month low of $34.16 and a 12 month high of $53.27. The firm has a 50 day moving average price of $38.09 and a two-hundred day moving average price of $41.77.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.09 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.91%. Merchants Bancorp’s payout ratio is presently 5.96%.

Insider Buying and Selling

In other Merchants Bancorp news, Director Patrick D. O’brien purchased 40,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares in the company, valued at $1,000,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 39.70% of the stock is owned by insiders.

Analyst Ratings Changes

MBIN has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Raymond James reduced their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th.

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.