Merchants Bancorp (NASDAQ:MBIN) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other analysts have also issued reports about the company. Zacks Investment Research raised Merchants Bancorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, April 17th. SunTrust Banks reaffirmed a “buy” rating and set a $23.00 target price on shares of Merchants Bancorp in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.60.
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Shares of NASDAQ:MBIN traded up $0.86 during trading on Wednesday, hitting $22.92. The stock had a trading volume of 15,419 shares, compared to its average volume of 47,912. Merchants Bancorp has a 12-month low of $16.27 and a 12-month high of $23.76. The stock has a market cap of $665.66 and a price-to-earnings ratio of 11.63. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 0.17.
Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, April 30th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $31.42 million during the quarter, compared to analysts’ expectations of $26.95 million. equities analysts anticipate that Merchants Bancorp will post 2.14 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of MBIN. Wells Fargo & Company MN acquired a new stake in Merchants Bancorp during the fourth quarter worth about $218,000. The Manufacturers Life Insurance Company acquired a new stake in Merchants Bancorp during the fourth quarter worth about $116,000. Bank of New York Mellon Corp acquired a new stake in Merchants Bancorp during the fourth quarter worth about $389,000. BlackRock Inc. acquired a new stake in Merchants Bancorp during the fourth quarter worth about $6,327,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Merchants Bancorp during the fourth quarter worth about $279,000. 21.07% of the stock is currently owned by hedge funds and other institutional investors.
Merchants Bancorp Company Profile
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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