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Merchants Bancorp (MBIN)

Upturn stock ratingUpturn stock rating
$33.4
Last Close (24-hour delay)
upturn advisory
PASS
  • BUY Advisory
  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
  • Loss
  • Pass (Skip investing)
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
Time period over
  • ALL
  • YEAR
  • MONTH
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Upturn Advisory Summary

06/27/2025: MBIN (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

rating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

rating

3 Analysts rated it

Limited analyst coverage, niche firm, research info may be scarce.

1 Year Target Price $40.67

1 Year Target Price $40.67

Analysts Price Target For last 52 week
$40.67Target price
Low$27.17
Current$33.4
high$52.72

Analysis of Past Performance

Type Stock
Historic Profit -12.37%
Avg. Invested days 31
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 2.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 06/27/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.53B USD
Price to earnings Ratio 6.16
1Y Target Price 40.67
Price to earnings Ratio 6.16
1Y Target Price 40.67
Volume (30-day avg) 3
Beta 1.3
52 Weeks Range 27.17 - 52.72
Updated Date 06/30/2025
52 Weeks Range 27.17 - 52.72
Updated Date 06/30/2025
Dividends yield (FY) 1.20%
Basic EPS (TTM) 5.37

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin 46.92%
Operating Margin (TTM) 60.6%

Management Effectiveness

Return on Assets (TTM) 1.59%
Return on Equity (TTM) 14.81%

Valuation

Trailing PE 6.16
Forward PE -
Enterprise Value 5157575168
Price to Sales(TTM) 2.47
Enterprise Value 5157575168
Price to Sales(TTM) 2.47
Enterprise Value to Revenue 9.43
Enterprise Value to EBITDA -
Shares Outstanding 45881700
Shares Floating 29298222
Shares Outstanding 45881700
Shares Floating 29298222
Percent Insiders 44.39
Percent Institutions 33.48

Analyst Ratings

Rating 2
Target Price 40.67
Buy 2
Strong Buy -
Buy 2
Strong Buy -
Hold 1
Sell -
Strong Sell -
Strong Sell -

ai summary icon Upturn AI SWOT

Merchants Bancorp

stock logo

Company Overview

overview logo History and Background

Merchants Bancorp was founded in 1990. It has grown through strategic acquisitions and organic expansion, focusing on multi-family housing and mortgage banking.

business area logo Core Business Areas

  • Multi-Family Mortgage Banking: Originates, sells, and services multi-family mortgage loans, primarily through government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, and FHA.
  • Commercial Real Estate Lending: Provides financing solutions for commercial real estate projects, including construction loans, bridge loans, and permanent financing.
  • Banking: Offers traditional banking services, including deposits, commercial lending, and treasury management.
  • Warehouse Lending: Provides short-term financing to independent mortgage companies.

leadership logo Leadership and Structure

Michael Petrie serves as the Chairman and CEO. The company has a traditional corporate structure with executive leadership overseeing each business segment, reporting to the CEO and board.

Top Products and Market Share

overview logo Key Offerings

  • Multi-Family Mortgage Loans: Merchants Bancorp is a major originator of multi-family mortgage loans, particularly through government-sponsored enterprises. Precise market share data is difficult to ascertain but it is estimated to be in the top 10-15% of originators for its product line. Competitors include Walker & Dunlop (WD), Greystone, and CBRE Capital Markets.
  • Commercial Real Estate Lending: Provides financing solutions for commercial real estate projects. Competitors include regional banks and larger national players. Market share within specific niches varies greatly.
  • SBA Lending: Small Business Administration (SBA) loans to assist small business with growth. Competitors include regional and national banks, such as Huntington Bancshares (HBAN). Market share within specific niches varies greatly.

Market Dynamics

industry overview logo Industry Overview

The financial services industry, particularly multi-family and commercial real estate lending, is influenced by interest rates, economic growth, and government regulations. Demand for multi-family housing remains robust in many markets.

Positioning

Merchants Bancorp is positioned as a specialized lender with expertise in multi-family and commercial real estate finance. Its competitive advantages include its relationships with GSEs and its deep understanding of its target markets.

Total Addressable Market (TAM)

The TAM for commercial real estate lending is estimated to be in the trillions of dollars annually. Merchants Bancorp is positioned to capture a share of this market by focusing on specific asset classes and geographic regions.

Upturn SWOT Analysis

Strengths

  • Strong relationships with GSEs
  • Expertise in multi-family lending
  • Experienced management team
  • Diversified revenue streams

Weaknesses

  • Concentration in real estate lending
  • Sensitivity to interest rate fluctuations
  • Reliance on GSE programs
  • Smaller scale compared to national players

Opportunities

  • Expansion into new geographic markets
  • Development of new financial products
  • Strategic acquisitions
  • Increased demand for multi-family housing

Threats

  • Rising interest rates
  • Economic downturn
  • Increased competition
  • Changes in government regulations

Competitors and Market Share

competitor logo Key Competitors

  • Walker & Dunlop (WD)
  • Greystone
  • CBRE Capital Markets (CBRE)

Competitive Landscape

Merchants Bancorp competes with larger, more established players in the multi-family and commercial real estate lending markets. Its competitive advantages include its specialized expertise and strong relationships with GSEs.

Major Acquisitions

Farmers & Merchants Bancorp of Argonia

  • Year: 2017
  • Acquisition Price (USD millions): 16.8
  • Strategic Rationale: Expansion into the agricultural lending market.

Growth Trajectory and Initiatives

Historical Growth: Merchants Bancorp has experienced significant growth in recent years, driven by increased multi-family lending activity.

Future Projections: Future growth is expected to be driven by continued expansion in multi-family and commercial real estate lending, but projections vary.

Recent Initiatives: Recent initiatives include expanding its presence in new geographic markets and developing new financial products.

Summary

Merchants Bancorp is a specialized lender focused on multi-family and commercial real estate finance. Its strengths lie in its GSE relationships and expertise, but it faces challenges related to interest rate sensitivity and competition. Growth opportunities exist in new markets and products. However, economic downturns and regulatory changes pose potential threats.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • Company Filings (SEC)
  • Industry Reports
  • Analyst Estimates

Disclaimers:

The data provided is for informational purposes only and should not be considered financial advice. Market share data is based on estimates and may not be precise. Financial data is unavailable without premium access.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Merchants Bancorp

Exchange NASDAQ
Headquaters Carmel, IN, United States
IPO Launch date 2017-10-27
Co-Founder, Chairman & CEO Mr. Michael F. Petrie CMB
Sector Financial Services
Industry Banks - Regional
Full time employees 663
Full time employees 663

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 rental housing and healthcare facilities financing. This segment also offers customized loan products for need-based skilled nursing facilities, such as independent living, assisted living, and memory care; and tax credit equity syndicator service. The Mortgage Warehousing segment funds agency eligible residential loans, as well as commercial loans to non-depository financial institutions. The Banking segment offers a range of financial products and services to consumers and businesses, which includes retail banking, commercial lending, agricultural lending, retail and correspondent residential mortgage banking, and small business administration lending. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.