Merchants Bancorp (NASDAQ:MBIN) Announces Earnings Results, Misses Estimates By $0.25 EPS

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) released its earnings results on Monday. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.25), RTT News reports. The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same period in the previous year, the firm earned $1.68 earnings per share.

Merchants Bancorp Stock Down 17.9 %

NASDAQ MBIN traded down $7.86 during trading on Tuesday, reaching $36.03. 654,141 shares of the company's stock were exchanged, compared to its average volume of 179,420. Merchants Bancorp has a fifty-two week low of $28.99 and a fifty-two week high of $53.27. The firm has a market capitalization of $1.56 billion, a PE ratio of 6.14 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The company's fifty day simple moving average is $44.53 and its 200-day simple moving average is $43.02.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. Merchants Bancorp's payout ratio is presently 5.65%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MBIN shares. Raymond James decreased their price target on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday. Morgan Stanley started coverage on Merchants Bancorp in a research report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 price target for the company.

Insiders Place Their Bets

In other news, CEO Michael R. Dury acquired 5,200 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the acquisition, the chief executive officer now owns 93,793 shares of the company's stock, valued at approximately $3,630,727.03. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Merchants Bancorp news, CEO Michael R. Dury bought 5,200 shares of Merchants Bancorp stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the purchase, the chief executive officer now directly owns 93,793 shares of the company's stock, valued at $3,630,727.03. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Petrie sold 22,050 shares of Merchants Bancorp stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the sale, the chief executive officer now owns 1,990,545 shares of the company's stock, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company's stock.

Merchants Bancorp Company Profile

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.