Merchants Bancorp (NASDAQ:MBIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, March 14th.
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. “
MBIN has been the subject of several other reports. Stephens initiated coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They issued an “overweight” rating and a $21.00 price objective on the stock. Raymond James Financial initiated coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They issued an “outperform” rating and a $20.00 price objective on the stock. SunTrust Banks initiated coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set a “buy” rating and a $22.00 target price on the stock. Finally, Sandler O’Neill initiated coverage on Merchants Bancorp in a research note on Tuesday, November 21st. They set a “buy” rating and a $21.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.00.
NASDAQ MBIN traded up $0.59 on Wednesday, reaching $21.39. The company had a trading volume of 59,060 shares, compared to its average volume of 68,216. Merchants Bancorp has a 52 week low of $16.27 and a 52 week high of $23.76. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $613.72 and a PE ratio of 10.86.
Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Thursday, February 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. The business had revenue of $33.86 million during the quarter, compared to analyst estimates of $26.89 million. sell-side analysts predict that Merchants Bancorp will post 2.12 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of MBIN. Basswood Capital Management L.L.C. acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at $33,907,000. BlackRock Inc. acquired a new stake in shares of Merchants Bancorp during the 4th quarter valued at $6,327,000. Banc Funds Co. LLC acquired a new stake in shares of Merchants Bancorp during the 4th quarter valued at $5,061,000. Endeavour Capital Advisors Inc. acquired a new stake in shares of Merchants Bancorp during the 4th quarter valued at $4,846,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Merchants Bancorp during the 4th quarter valued at $3,082,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.
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About Merchants Bancorp
Merchants Bancorp operates as a bank holding company for Merchants Bank of Indiana that provides various banking products and services in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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