Merchants Bancorp (NASDAQ:MBIN) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Merchants Bancorp (NASDAQ:MBIN) posted its quarterly earnings results on Monday. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08), Yahoo Finance reports. The business had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. Merchants Bancorp had a return on equity of 26.78% and a net margin of 23.14%. During the same period last year, the company earned $1.31 EPS.

Merchants Bancorp Price Performance

MBIN stock traded up $0.53 during midday trading on Wednesday, reaching $44.79. 151,833 shares of the company’s stock traded hands, compared to its average volume of 179,548. The company has a 50-day simple moving average of $42.51 and a two-hundred day simple moving average of $42.09. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. Merchants Bancorp has a 1-year low of $25.78 and a 1-year high of $53.27. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 6.95 and a beta of 1.12.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, June 14th. Merchants Bancorp’s payout ratio is currently 5.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MBIN. Piper Sandler reissued an “overweight” rating and issued a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th. Raymond James lowered Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $58.00 in a research note on Tuesday.

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.