Merchants Bancorp (NASDAQ:MBIN) Stock Rating Upgraded by Zacks Investment Research

Merchants Bancorp (NASDAQ:MBIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

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. “

Separately, ValuEngine lowered shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 18th.

NASDAQ MBIN opened at $15.39 on Friday. Merchants Bancorp has a 12 month low of $15.16 and a 12 month high of $28.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $456.72 million, a PE ratio of 7.43 and a beta of 1.11. The company’s 50 day simple moving average is $17.08 and its 200 day simple moving average is $19.74.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $37.79 million for the quarter. Merchants Bancorp had a net margin of 28.72% and a return on equity of 15.42%. Sell-side analysts anticipate that Merchants Bancorp will post 1.96 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MBIN. Bank of New York Mellon Corp lifted its stake in shares of Merchants Bancorp by 55.3% during the 4th quarter. Bank of New York Mellon Corp now owns 93,049 shares of the company’s stock worth $1,857,000 after purchasing an additional 33,152 shares during the period. Northern Trust Corp lifted its stake in shares of Merchants Bancorp by 2.7% during the 4th quarter. Northern Trust Corp now owns 184,358 shares of the company’s stock worth $3,680,000 after purchasing an additional 4,804 shares during the period. Geode Capital Management LLC lifted its stake in shares of Merchants Bancorp by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 184,428 shares of the company’s stock worth $3,681,000 after purchasing an additional 20,696 shares during the period. Bank of America Corp DE lifted its stake in shares of Merchants Bancorp by 94.3% during the 4th quarter. Bank of America Corp DE now owns 10,242 shares of the company’s stock worth $205,000 after purchasing an additional 4,972 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Merchants Bancorp by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,589 shares of the company’s stock worth $112,000 after purchasing an additional 4,365 shares during the period. Hedge funds and other institutional investors own 21.92% of the company’s stock.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. The company 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.

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