Merchants Bancorp (MBIN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

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. “

A number of other brokerages have also issued reports on MBIN. Sandler O’Neill reiterated a buy rating on shares of Merchants Bancorp in a research report on Thursday, August 2nd. Stephens lowered Merchants Bancorp from an overweight rating to an equal weight rating and set a $21.00 target price on the stock. in a research report on Wednesday, July 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $21.60.

Shares of NASDAQ:MBIN traded down $0.40 during midday trading on Tuesday, reaching $22.87. 167 shares of the company’s stock traded hands, compared to its average volume of 30,357. Merchants Bancorp has a 1 year low of $17.25 and a 1 year high of $29.15. The firm has a market capitalization of $661.97 million and a price-to-earnings ratio of 11.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 0.73.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Tuesday, October 30th. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Merchants Bancorp had a return on equity of 17.99% and a net margin of 38.21%. The firm had revenue of $35.39 million for the quarter, compared to analyst estimates of $35.10 million. On average, sell-side analysts expect that Merchants Bancorp will post 2.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Merchants Bancorp in the 2nd quarter valued at $109,000. ClariVest Asset Management LLC acquired a new position in Merchants Bancorp in the 2nd quarter valued at $146,000. Bank of America Corp DE raised its stake in Merchants Bancorp by 35.4% in the 2nd quarter. Bank of America Corp DE now owns 10,044 shares of the company’s stock valued at $286,000 after purchasing an additional 2,628 shares during the last quarter. Delphi Management Inc. MA acquired a new position in Merchants Bancorp in the 2nd quarter valued at $291,000. Finally, Rhumbline Advisers acquired a new position in Merchants Bancorp in the 2nd quarter valued at $412,000. 22.54% of the stock is owned by hedge funds and other institutional investors.

About Merchants Bancorp

Merchants Bancorp operates as a diversified bank holding company in the United States. It operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

See Also: Fundamental Analysis

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