Merchants Bancorp (NASDAQ:MBIN) Shares Gap Up to $37.10

Merchants Bancorp (NASDAQ:MBIN) shares gapped up prior to trading on Monday . The stock had previously closed at $37.10, but opened at $39.21. Merchants Bancorp shares last traded at $39.13, with a volume of 159 shares.

A number of equities analysts have weighed in on the stock. Raymond James decreased their target price on shares of Merchants Bancorp from $57.00 to $49.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 26th. Zacks Investment Research cut shares of Merchants Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 3rd.

The company’s 50 day moving average price is $36.65 and its two-hundred day moving average price is $39.56. The firm has a market cap of $1.14 billion, a PE ratio of 5.38 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 1.01.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, July 27th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.02). Merchants Bancorp had a net margin of 49.14% and a return on equity of 36.61%. The firm had revenue of $97.26 million for the quarter, compared to analysts’ expectations of $101.37 million. Equities research analysts expect that Merchants Bancorp will post 6.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Merchants Bancorp’s dividend payout ratio is currently 6.24%.

A number of hedge funds and other institutional investors have recently made changes to their positions in MBIN. Goldman Sachs Group Inc. increased its holdings in Merchants Bancorp by 263.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 144,645 shares of the company’s stock valued at $5,675,000 after acquiring an additional 104,853 shares during the last quarter. BlackRock Inc. increased its holdings in Merchants Bancorp by 9.5% in the 1st quarter. BlackRock Inc. now owns 1,141,736 shares of the company’s stock valued at $47,886,000 after acquiring an additional 98,964 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Merchants Bancorp by 119.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 125,989 shares of the company’s stock valued at $4,944,000 after acquiring an additional 68,685 shares during the last quarter. State Street Corp increased its holdings in Merchants Bancorp by 24.7% in the 2nd quarter. State Street Corp now owns 226,200 shares of the company’s stock valued at $8,896,000 after acquiring an additional 44,760 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in Merchants Bancorp in the 1st quarter valued at $1,442,000. Institutional investors own 22.53% of the company’s stock.

About Merchants Bancorp (NASDAQ:MBIN)

Merchants Bancorp (Indiana) is a bank holding company, which specializes in a multiple lines of business in banking and finance. It operates through the following segments: Multi-family Mortgage Banking; Mortgage Warehousing and Banking. The Multi-family Mortgage Banking segment engaged in mortgage banking, specializing in originating and servicing loans for multi-family rental housing and healthcare facility financing, particularly for senior living properties.

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