Shares of Merchants Bancorp (NASDAQ:MBIN) have earned an average broker rating score of 1.25 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and three have issued a strong buy rating on the company.
Brokerages have set a 12-month consensus target price of $23.00 for the company and are predicting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Merchants Bancorp an industry rank of 117 out of 265 based on the ratings given to related companies.
A number of analysts have recently commented on MBIN shares. SunTrust Banks reissued a “buy” rating and set a $23.00 price target on shares of Merchants Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research lowered Merchants Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th.
Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. The firm had revenue of $33.86 million for the quarter, compared to analyst estimates of $26.89 million. research analysts forecast that Merchants Bancorp will post 2.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.06 dividend. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, March 14th. Merchants Bancorp’s payout ratio is currently 12.18%.
Several institutional investors have recently bought and sold shares of MBIN. The Manufacturers Life Insurance Company acquired a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $116,000. Teachers Advisors LLC acquired a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $164,000. Citadel Advisors LLC acquired a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $205,000. Wells Fargo & Company MN acquired a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $218,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Merchants Bancorp in the fourth quarter worth approximately $220,000. 21.09% of the stock is currently owned by institutional investors.
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About Merchants Bancorp
Merchants Bancorp is a diversified bank holding bank. The Bank operate multiple lines of business with a focus on FHA multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking.
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