In a report released yesterday, Daniel Tamayo from Raymond James maintained a Buy rating on Merchants Bancorp (MBIN). The company’s shares closed last Thursday at $30.81, close to its 52-week high of $32.04.
According to TipRanks.com, Tamayo is a 4-star analyst with an average return of 21.3% and a 83.9% success rate. Tamayo covers the Financial sector, focusing on stocks such as First Mid-Illinois Bancshares, Guaranty Federal Bancshares, and Farmers National Banc Oh.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Merchants Bancorp with a $33.00 average price target.
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Based on Merchants Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $101 million and net profit of $55 million. In comparison, last year the company earned revenue of $42.23 million and had a net profit of $20.26 million.
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Merchants Bancorp (Indiana) is a bank holding company, which specializes in a multiple lines of business in banking and finance. It operates through the following segments: Multi-family Mortgage Banking; Mortgage Warehousing and Banking. The Multi-family Mortgage Banking segment engaged in mortgage banking, specializing in originating and servicing loans for multi-family rental housing and healthcare facility financing, particularly for senior living properties. The Mortgage Warehousing segment funds agency eligible loans for non-depository financial institutions from the date of origination or purchase until the date of sale to an investor. The Banking segment refers to financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; letters of credit and various types of deposit products, including checking, savings and time deposit accounts. The company was founded by Michael Petrie and Randall D. Rogers in 1990 and is headquartered in Carmel, IN.
