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Upturn AI Summary - About
Merchants Bancorp(MBIN)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for MBIN
09/25/2026: MBIN (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Merchants Bancorp is a diversified regional bank holding company that excels in specialized lending, particularly in multi-family housing and mortgage warehousing. The company has a solid reputation for operational efficiency and has historically maintained healthy margins within its niche markets. Its primary growth opportunity lies in leveraging its expertise in affordable housing finance and scaling digital banking initiatives. Investors should be aware of key risks, including concentration in real estate lending and sensitivity to interest rate fluctuations, which can impact mortgage volumes. The stock may appeal to value-oriented investors, though potential shareholders should closely monitor the broader housing market cycle and interest rate policies.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | While the company has shown growth in specialized lending, it remains subject to cyclical real estate market pressures. |
| Momentum investor | Strong fit while signal remains positive | Momentum investors may find interest when the stock trends positively during favorable mortgage market cycles. |
| Value investor | Strong fit | The company often trades at valuations that may appeal to value investors looking for consistent earnings in the financial sector. |
| Dividend investor | Mixed fit | The company pays a dividend, but growth-oriented reinvestment often takes priority over high-yield payouts. |
| Low-risk investor | Weak fit | The concentration in real estate-related lending introduces volatility that may not suit very conservative investors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium / high | The stock price is sensitive to interest rate changes and housing market cycles. |
| Valuation risk | Medium | Market valuations for banks can fluctuate based on broader economic sentiment toward financial institutions. |
| Competition risk (Banking) | High | Intense competition from large national banks and specialized fintech lenders puts pressure on margins. |
| Business quality | Medium | The company has a solid specialized business model, but its reliance on specific sectors limits diversification. |
| Dividend income | Low | Dividends are reliable but generally secondary to the company's capital allocation strategy. |
| Execution risk | Medium | Success depends on managing credit quality and origination volume in volatile mortgage markets. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Moderately Choppy
The stock has experienced noticeable price swings while retaining some directional structure.
Analysis of Past Performance
Type Stock | Historic Profit -6.23% | Avg. Invested days 42 | Today’s Advisory WEAK BUY |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 09/25/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.39B USD | Price to earnings Ratio 10.46 | 1Y Target Price 64.5 |
Price to earnings Ratio 10.46 | 1Y Target Price 64.5 | ||
Volume (30-day avg) 201.7K shares | Beta 1.14 | 52 Weeks Range 30.08 - 56.75 | Updated Date 09/27/2026 |
52 Weeks Range 30.08 - 56.75 | Updated Date 09/27/2026 | ||
Dividends yield (FY) 0.80% | Basic EPS (TTM) 4.98 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Multi-family Lending | Financing for multi-family housing projects. | The company makes money by lending to housing developers and earning interest and fees. |
| Mortgage Warehousing | Credit facilities for mortgage originators. | They provide short-term financing that helps other banks get mortgage loans started. |
| Retail/Commercial Banking | Deposits, commercial loans, and personal banking. | They earn money through standard banking activities like interest earned on loans minus interest paid on deposits. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Valuation
Trailing PE 10.46 | Forward PE - | Enterprise Value 6.45B | Price to Sales(TTM) 3.78 |
Enterprise Value 6.45B | Price to Sales(TTM) 3.78 | ||
Enterprise Value to Revenue 10.14 | Enterprise Value to EBITDA - | Shares Outstanding 45.94M | Shares Floating 25.37M |
Shares Outstanding 45.94M | Shares Floating 25.37M | ||
Percent Insiders 45.95 | Percent Institutions 99.17 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Merchants Bancorp
Exchange NASDAQ | Headquarters Carmel, IN, United States | ||
IPO Launch date 2017-10-27 | President, CEO & Director Mr. Michael J. Dunlap | ||
Sector Financial Services | Industry Banks - Regional | Full time employees 735 | Website https://bankmerchants.com |
Full time employees 735 | Website https://bankmerchants.com | ||
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 housing development 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.
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