Merchants Bancorp (NASDAQ:MBIN) Posts Quarterly Earnings Results, Misses Expectations By $0.25 EPS

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

Merchants Bancorp Trading Down 0.2 %

MBIN stock traded down $0.07 during trading on Wednesday, hitting $35.96. The company had a trading volume of 219,685 shares, compared to its average volume of 179,612. The business has a 50-day moving average of $44.37 and a 200-day moving average of $43.00. Merchants Bancorp has a one year low of $29.60 and a one year high of $53.27. The stock has a market cap of $1.56 billion, a PE ratio of 5.66 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 13th. Merchants Bancorp’s payout ratio is presently 5.65%.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael R. Dury purchased 5,200 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares in the company, valued at $3,630,727.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the transaction, the insider now directly owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael R. Dury bought 5,200 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the transaction, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at $3,630,727.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 39.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on MBIN shares. Raymond James reduced their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday. Piper Sandler restated an “overweight” rating and set a $48.00 price target (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday. Finally, Morgan Stanley assumed coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock.

Merchants Bancorp Company Profile

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.