Wall Street Zen Downgrades Merchants Bancorp (NASDAQ:MBIN) to Sell

Merchants Bancorp (NASDAQ:MBIN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

MBIN has been the subject of several other reports. Raymond James Financial restated an “outperform” rating and set a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Morgan Stanley cut their price objective on 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.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $33.40 on Friday. The business’s 50 day simple moving average is $32.03 and its 200-day simple moving average is $35.93. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 6.14 and a beta of 1.29. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.20 and a quick ratio of 0.88. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.32). Merchants Bancorp had a return on equity of 19.09% and a net margin of 20.73%. The company had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. As a group, equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Merchants Bancorp by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after acquiring an additional 132,841 shares during the last quarter. Vanguard Group Inc. raised its holdings in Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock valued at $45,657,000 after acquiring an additional 26,111 shares during the last quarter. Royce & Associates LP raised its holdings in Merchants Bancorp by 21.2% in the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company’s stock valued at $25,401,000 after acquiring an additional 120,262 shares during the last quarter. American Century Companies Inc. raised its holdings in Merchants Bancorp by 8.0% in the 1st quarter. American Century Companies Inc. now owns 512,942 shares of the company’s stock valued at $18,979,000 after acquiring an additional 38,038 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Merchants Bancorp by 1.9% in the 1st quarter. Invesco Ltd. now owns 480,622 shares of the company’s stock valued at $17,783,000 after acquiring an additional 9,192 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.