Merchants Bancorp (NASDAQ:MBIN) Issues Earnings Results, Misses Estimates By $0.25 EPS

Merchants Bancorp (NASDAQ:MBIN) announced its earnings results on Monday. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25), RTT News reports. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same quarter last year, the business earned $1.68 earnings per share.

Merchants Bancorp Stock Performance

MBIN opened at $43.89 on Tuesday. The business’s 50-day simple moving average is $44.53 and its 200 day simple moving average is $43.02. Merchants Bancorp has a 52-week low of $28.99 and a 52-week high of $53.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. The firm has a market capitalization of $1.90 billion, a PE ratio of 6.89 and a beta of 1.09.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, September 13th. Merchants Bancorp’s payout ratio is 5.65%.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were 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 $32,912,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MBIN shares. Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Morgan Stanley assumed coverage on Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company.

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.