Merchants Bancorp operates as the diversified bank holding company in the United States.
Merchants Bancorp Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$39.50|
|52 Week High||US$19.52|
|52 Week Low||US$45.67|
|1 Month Change||8.43%|
|3 Month Change||0.076%|
|1 Year Change||97.60%|
|3 Year Change||57.37%|
|5 Year Change||n/a|
|Change since IPO||135.12%|
Recent News & Updates
|MBIN||US Mortgage||US Market|
Return vs Industry: MBIN exceeded the US Mortgage industry which returned 23.1% over the past year.
Return vs Market: MBIN exceeded the US Market which returned 35.3% over the past year.
Stable Share Price: MBIN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MBIN's weekly volatility (5%) has been stable over the past year.
About the Company
Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
Merchants Bancorp Fundamentals Summary
|MBIN fundamental statistics|
Is MBIN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MBIN income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||7.35|
|Net Profit Margin||50.29%|
How did MBIN perform over the long term?See historical performance and comparison
0.9%Current Dividend Yield
Is Merchants Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MBIN ($37.1) is trading below our estimate of fair value ($58.5)
Significantly Below Fair Value: MBIN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MBIN is good value based on its PE Ratio (5x) compared to the US Mortgage industry average (12.1x).
PE vs Market: MBIN is good value based on its PE Ratio (5x) compared to the US market (17.9x).
Price to Earnings Growth Ratio
PEG Ratio: MBIN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MBIN is overvalued based on its PB Ratio (1.5x) compared to the US Mortgage industry average (1.1x).
How is Merchants Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MBIN's earnings are forecast to decline over the next 3 years (-13.3% per year).
Earnings vs Market: MBIN's earnings are forecast to decline over the next 3 years (-13.3% per year).
High Growth Earnings: MBIN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MBIN's revenue is expected to decline over the next 3 years (-5.7% per year).
High Growth Revenue: MBIN's revenue is forecast to decline over the next 3 years (-5.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MBIN's Return on Equity is forecast to be low in 3 years time (15.9%).
How has Merchants Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MBIN has high quality earnings.
Growing Profit Margin: MBIN's current net profit margins (50.3%) are higher than last year (44.1%).
Past Earnings Growth Analysis
Earnings Trend: MBIN's earnings have grown significantly by 40.6% per year over the past 5 years.
Accelerating Growth: MBIN's earnings growth over the past year (107%) exceeds its 5-year average (40.6% per year).
Earnings vs Industry: MBIN earnings growth over the past year (107%) exceeded the Mortgage industry 34%.
Return on Equity
High ROE: MBIN's Return on Equity (21.5%) is considered high.
How is Merchants Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: MBIN's Assets to Equity ratio (9.3x) is low.
Allowance for Bad Loans: MBIN has a sufficient allowance for bad loans (957%).
Low Risk Liabilities: 91% of MBIN's liabilities are made up of primarily low risk sources of funding.
Loan Level: MBIN has an appropriate level of Loans to Assets ratio (55%).
Low Risk Deposits: MBIN's Loans to Deposits ratio (68%) is appropriate.
Level of Bad Loans: MBIN has an appropriate level of bad loans (0.1%).
What is Merchants Bancorp current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MBIN's dividend (0.97%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: MBIN's dividend (0.97%) is low compared to the top 25% of dividend payers in the US market (3.6%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MBIN has been paying a dividend for less than 10 years.
Growing Dividend: MBIN's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (4.6%), MBIN's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MBIN's dividends in 3 years are forecast to be thoroughly covered by earnings (6.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mike Dunlap (55 yo)
Mr. Michael J. Dunlap, also known as Mike, has been President of Merchants Bancorp since January 1, 2018 and serves as its Chief Operating Officer since January 1, 2018. Mr. Dunlap serves as Chief Executiv...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD1.54M) is below average for companies of similar size in the US market ($USD2.30M).
Compensation vs Earnings: Mike's compensation has increased by more than 20% in the past year.
Experienced Management: MBIN's management team is considered experienced (4.2 years average tenure).
Experienced Board: MBIN's board of directors are considered experienced (7.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Merchants Bancorp's employee growth, exchange listings and data sources
- Name: Merchants Bancorp
- Ticker: MBIN
- Exchange: NasdaqCM
- Founded: 1990
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: US$1.137b
- Shares outstanding: 28.78m
- Website: https://www.merchantsbankofindiana.com
Number of Employees
- Merchants Bancorp
- 410 Monon Boulevard
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/27 23:04|
|End of Day Share Price||2021/09/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.