Merchants Bancorp (NASDAQ:MBIN) Stock Rating Upgraded by Wall Street Zen

Merchants Bancorp (NASDAQ:MBIN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

MBIN has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Piper Sandler increased their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th.

Merchants Bancorp Stock Performance

MBIN stock opened at $31.46 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 4.99 and a beta of 1.31. The firm has a 50-day simple moving average of $33.68 and a two-hundred day simple moving average of $37.39. Merchants Bancorp has a one year low of $27.25 and a one year high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, April 28th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.32). The firm had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. On average, equities analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elser Financial Planning Inc acquired a new position in Merchants Bancorp in the 4th quarter worth approximately $994,207,000. Valeo Financial Advisors LLC grew its stake in shares of Merchants Bancorp by 3.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company’s stock worth $8,221,000 after purchasing an additional 6,882 shares during the period. New York State Common Retirement Fund grew its stake in shares of Merchants Bancorp by 22.2% during the 4th quarter. New York State Common Retirement Fund now owns 60,534 shares of the company’s stock worth $2,208,000 after purchasing an additional 11,000 shares during the period. Moran Wealth Management LLC acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth approximately $3,524,000. Finally, Endeavour Capital Advisors Inc. acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth approximately $3,509,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.