Merchants Bancorp (NASDAQ:MBIN) Downgraded to “Strong Sell” at Zacks Investment Research

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

Several other equities analysts have also recently weighed in on the company. ValuEngine raised Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James lowered their target price on Merchants Bancorp from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th.

Shares of MBIN opened at $15.87 on Thursday. The business’s 50-day moving average price is $16.21 and its 200 day moving average price is $18.40. The stock has a market capitalization of $455.56 million, a P/E ratio of 7.67 and a beta of 1.18. Merchants Bancorp has a 1-year low of $14.64 and a 1-year high of $25.43. The company has a current ratio of 1.04, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, July 30th. The company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. Merchants Bancorp had a return on equity of 15.42% and a net margin of 28.72%. The company had revenue of $37.79 million for the quarter. On average, research analysts predict that Merchants Bancorp will post 1.95 earnings per share for the current year.

In other Merchants Bancorp news, insider Michael R. Dury bought 12,000 shares of the stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $16.71 per share, with a total value of $200,520.00. Insiders own 43.42% of the company’s stock.

Several institutional investors have recently made changes to their positions in MBIN. Royal Bank of Canada lifted its holdings in shares of Merchants Bancorp by 71.1% during the 2nd quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $55,000 after buying an additional 1,350 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Merchants Bancorp by 93.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,749 shares of the company’s stock valued at $131,000 after buying an additional 3,751 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Merchants Bancorp during the 2nd quarter valued at about $171,000. Strs Ohio lifted its holdings in shares of Merchants Bancorp by 400.0% during the 2nd quarter. Strs Ohio now owns 10,500 shares of the company’s stock valued at $178,000 after buying an additional 8,400 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Merchants Bancorp by 6.7% during the 2nd quarter. Swiss National Bank now owns 16,000 shares of the company’s stock valued at $272,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 21.68% 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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