Merchants Bancorp (NASDAQ:MBIN) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Merchants Bancorp (NASDAQ:MBIN) announced its quarterly earnings data on Monday. The company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08), Yahoo Finance reports. The firm had revenue of $359.62 million during the quarter, compared to the consensus estimate of $160.70 million. Merchants Bancorp had a return on equity of 26.78% and a net margin of 23.14%. During the same quarter in the prior year, the business posted $1.31 EPS.

Merchants Bancorp Price Performance

Merchants Bancorp stock traded up $1.15 during trading hours on Wednesday, hitting $45.41. 199,808 shares of the stock were exchanged, compared to its average volume of 179,850. The stock has a market capitalization of $1.97 billion, a P/E ratio of 6.95 and a beta of 1.12. The business’s 50-day moving average is $42.51 and its two-hundred day moving average is $42.09. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 1.06. Merchants Bancorp has a 12 month low of $25.78 and a 12 month high of $53.27.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, June 14th. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MBIN shares. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $58.00 in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research note on Friday, May 17th.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.