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. The Mortgage Warehousing segment funds agency eligible residential loans, including origination, purchase, and sale in the secondary market, 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, such as various types of deposit products comprising checking, savings, money market, certificates of deposit, and time deposit accounts; and multi-family construction and bridge, commercial real estate, commercial and industrial, residential mortgage, and consumer loan products. This segment also engages in the agricultural lending, small business administration lending, single-family mortgage lending, and correspondent lending and servicing businesses. It operates 16 branches in various states, including Indiana, Illinois, Florida, New York, and Minnesota. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.
IPO Year: 2017
Exchange: NASDAQ
Website: merchantsbankofindiana.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/9/2024 | $54.00 | Equal-Weight | Morgan Stanley |
| 7/30/2024 | $55.00 → $58.00 | Strong Buy → Outperform | Raymond James |
| 11/2/2021 | $49.00 → $55.00 | Strong Buy | Raymond James |
| 8/26/2021 | $57.00 → $49.00 | Strong Buy | Raymond James |
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Morgan Stanley initiated coverage of Merchants Bancorp with a rating of Equal-Weight and set a new price target of $54.00
Raymond James downgraded Merchants Bancorp from Strong Buy to Outperform and set a new price target of $58.00 from $55.00 previously
Raymond James reiterated coverage of Merchants Bancorp with a rating of Strong Buy and set a new price target of $55.00 from $49.00 previously
Raymond James reiterated coverage of Merchants Bancorp with a rating of Strong Buy and set a new price target of $49.00 from $57.00 previously
Raymond James reiterated coverage of Merchants Bancorp with a rating of Strong Buy and set a new price target of $44.00 from $39.00 previously
CARMEL, Ind., Feb. 20, 2025 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the first quarter of 2025, in each case to shareholders of record on March 14, 2025, payable on April 1, 2025: A dividend of $0.10 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Com
Full year 2024 net income of $320.4 million set a new Company record, increasing 15% compared to 2023.Full year 2024 diluted earnings per common share of $6.30 reached the highest level in Company history and increased 12% compared to 2023.Fourth quarter 2024 net income of $95.7 million, increased 23% compared to fourth quarter of 2023 and increased 56% compared to the third quarter 2024, which reflected a $42.4 million, or 253%, increase in noninterest income.Fourth quarter 2024 diluted earnings per common share of $1.85 increased 17% compared to the fourth quarter of 2023 and increased 58% compared to the third quarter of 2024.Favorable fair market value adjustments to servicing rights on
CARMEL, Ind., Nov. 26, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that on January 2, 2025 it will redeem all outstanding shares of its 6.00% (reset to 9.42% as of October 1, 2024) Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock ("Series B Preferred Stock") (NASDAQ:MBINO) at the liquidation preference of $25.00 per share. Dividends on the Series B Preferred Stock of $0.59 per share that were declared and announced
CARMEL, Ind., Nov. 25, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company of Merchants Bank of Indiana, today announced the closing of its previously announced underwritten public offering of 9,200,000 depositary shares, each representing a 1/40th interest in a share of its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock (the "Series D preferred stock"), with a liquidation preference of $25.00 per depositary share. As a result of the public offering Merchants received proceeds of approximately $222.8 million, net of estimated expenses and underwriting discounts and commissions.
CARMEL, Ind., Nov. 20, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the fourth quarter of 2024, in each case to shareholders of record on December 13, 2024, payable on January 2, 2025: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $23.56 per share (equivalent to $0.59 per depositary share) on th
CARMEL, Ind., Nov. 18, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), a holding company that operates through its wholly owned subsidiary, Merchants Bank of Indiana ("Merchants Bank"), announced the pricing of an underwritten public offering of 9,200,000 depositary shares, each representing a 1/40th ownership interest in a share of its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock (the "Series E preferred stock"), with a liquidation preference of $25.00 per depositary share. When, as, and if declared by the board of directors of Merch
Third quarter 2024 net income of $61.3 million, decreased 25% compared to third quarter of 2023 and decreased 20% compared to the second quarter 2024, reflecting unfavorable fair market value adjustments to derivatives and servicing rights, and an increase in specific reserves on loans as part of the allowance for credit losses.Third quarter 2024 diluted earnings per common share of $1.17 decreased 30% compared to the third quarter of 2023 and decreased 21% compared to the second quarter of 2024.Unfavorable fair market value adjustments to interest rate floor derivatives on loans and servicing rights of $7.7 million and $6.7 million, respectively, negatively impacted results during the third
CARMEL, Ind., Sept. 11, 2024 /PRNewswire/ -- Merchants Bancorp (the "Company")(NASDAQ:MBIN) and its wholly owned subsidiary, Merchants Bank, have announced the appointment of Sean Sievers as its new Chief Financial Officer, effective Sept. 9, 2024. Sievers brings more than 25 years of executive financial leadership in the banking and mortgage industries to the top-performing banks' chief finance role. Most recently, Sievers served as CFO at Rate (formerly Guaranteed Rate), one of the leading mortgage bankers in the nation. His career includes leadership roles as CFO of Country
CARMEL, Ind., Aug. 15, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the third quarter of 2024, in each case to shareholders of record on September 13, 2024, payable on October 1, 2024: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on t
CARMEL, Ind., Aug. 1, 2024 /PRNewswire/ -- (NASDAQ:MBIN) Leading financial services provider Merchants Capital today announced the execution of a $543.5 million Credit Risk Transfer (CRT), secured by 41 performing multifamily bridge loans. This is the second multifamily CRT and the third overall completed by Merchants' Capital Markets platform, which has executed nearly $4 billion in securitizations. The transaction, which closed in March, was structured as a Credit Default Swap (CDS), with $76 million in credit protection purchased from a large institutional investor as a f
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CARMEL, Ind., Feb. 20, 2025 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the first quarter of 2025, in each case to shareholders of record on March 14, 2025, payable on April 1, 2025: A dividend of $0.10 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Com
Full year 2024 net income of $320.4 million set a new Company record, increasing 15% compared to 2023.Full year 2024 diluted earnings per common share of $6.30 reached the highest level in Company history and increased 12% compared to 2023.Fourth quarter 2024 net income of $95.7 million, increased 23% compared to fourth quarter of 2023 and increased 56% compared to the third quarter 2024, which reflected a $42.4 million, or 253%, increase in noninterest income.Fourth quarter 2024 diluted earnings per common share of $1.85 increased 17% compared to the fourth quarter of 2023 and increased 58% compared to the third quarter of 2024.Favorable fair market value adjustments to servicing rights on
CARMEL, Ind., Nov. 26, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that on January 2, 2025 it will redeem all outstanding shares of its 6.00% (reset to 9.42% as of October 1, 2024) Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock ("Series B Preferred Stock") (NASDAQ:MBINO) at the liquidation preference of $25.00 per share. Dividends on the Series B Preferred Stock of $0.59 per share that were declared and announced
CARMEL, Ind., Nov. 20, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the fourth quarter of 2024, in each case to shareholders of record on December 13, 2024, payable on January 2, 2025: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $23.56 per share (equivalent to $0.59 per depositary share) on th
Third quarter 2024 net income of $61.3 million, decreased 25% compared to third quarter of 2023 and decreased 20% compared to the second quarter 2024, reflecting unfavorable fair market value adjustments to derivatives and servicing rights, and an increase in specific reserves on loans as part of the allowance for credit losses.Third quarter 2024 diluted earnings per common share of $1.17 decreased 30% compared to the third quarter of 2023 and decreased 21% compared to the second quarter of 2024.Unfavorable fair market value adjustments to interest rate floor derivatives on loans and servicing rights of $7.7 million and $6.7 million, respectively, negatively impacted results during the third
CARMEL, Ind., Aug. 15, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the third quarter of 2024, in each case to shareholders of record on September 13, 2024, payable on October 1, 2024: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on t
CARMEL, Ind., May 16, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the second quarter of 2024, in each case to shareholders of record on June 14, 2024, payable on July 1, 2024: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Compa
First quarter 2024 net income of $87.1 million was the Company's highest quarterly earnings ever recorded, increasing 58% compared to first quarter of 2023 and increasing 12% compared to the fourth quarter 2023.First quarter 2024 diluted earnings per common share of $1.80 increased 68% compared to the first quarter of 2023 and increased 14% compared to the fourth quarter of 2023.Total assets of $17.8 billion surpassed any level previously reported by the Company, increasing 25% compared to March 31, 2023 and increasing 5% compared to December 31, 2023.Tangible book value per common share of $29.26 increased 28% compared to $22.88 in the first quarter of 2023 and increased 7% compared to $27.
CARMEL, Ind., Feb. 28, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN) today announced that on April 1, 2024 it will redeem all outstanding shares of its 7.00% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock ("Series A Preferred Stock") (NASDAQ:MBINP) at the liquidation preference of $25.00 per share. Dividends on the Series A Preferred Stock of $0.4375 per share that were declared and announced on February 14, 2024 will be paid separately on April 1, 2024. Accordingly, the redemption price of the Series A Preferred Stock will not in
CARMEL, Ind., Feb. 14, 2024 /PRNewswire/ -- Merchants Bancorp ("Merchants") (NASDAQ:MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the first quarter of 2023, in each case to shareholders of record on March 15, 2024, payable on April 1, 2024: A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);A dividend of $0.4375 per share on the Company's outstanding shares of its 7% Series
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CARMEL, Ind., May 19, 2022 /PRNewswire/ -- Merchants Bancorp (NASDAQ:MBIN) (the "Company" or "Merchants"), parent company of Merchants Bank of Indiana, today announces the appointment of Tamika Catchings and Thomas Dinwiddie to the Company's board of directors. With these new appointments, Catchings and Dinwiddie join a group of 11 distinguished members of the Merchants board. From 2001 to 2016, Catchings played for the Indiana Fever, the Indianapolis WNBA team, and became one of the most decorated athletes of all time. She is a four-time Olympic gold medalist, ten-time WNBA A