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Merchants Bancorp

Merchants Bancorp

MBIN · NASDAQ · Financial Services / Banks - Regional

52.92USD-0.64 (-1.19%)

Price History

Full chart

Market Stats

Previous Close53.56
Open53.90
Day Range52.41 – 53.90
52-Week Range30.08 – 56.75
Volume115.58K
Market Cap2.39B
P/E (TTM)10.46
Forward P/E0.00
EPS4.98
Dividend Yield0.84%
Beta1.14
50-Day Avg52.73
200-Day Avg45.80

About

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.

Company Details

  • SectorFinancial Services
  • IndustryBanks - Regional
  • CEOMr. Michael J. Dunlap
  • Employees735
  • Headquarters410 Monon Boulevard, Carmel, IN, United States, 46032, USA
  • Websitehttps://bankmerchants.com

Leadership

  • Mr. Michael F. Petrie CMBCo-Founder & Chairman · b. 1954
  • Mr. Michael J. DunlapPresident, CEO & Director · b. 1966
  • Mr. Randall D. Rogers CMBCo-Founder · b. 1946
  • Mr. Sean A. SieversChief Financial Officer · b. 1968
  • Mr. Scott A. EvansMarket President, COO & Director · b. 1965
  • Mr. Martin A. SchroeterPresident of Warehouse Lending · b. 1962
  • Mr. Michael R. DuryPresident & CEO of Merchants Capital Corp · b. 1985
  • Mr. Randall D. Rogers Jr.Co-Founder · b. 1973
  • Mr. Darin ThomasChief Accounting Officer · b. 1968
  • Mr. Kevin T. LangfordChief Administrative Officer · b. 1968

Financials

Income Statement

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue80.62M97.19M137.97M185.53M254.55M401.18M461.56M602.07M1.19B1.45B1.37B
Growth (%)-+20.56%+41.96%+34.47%+37.20%+57.60%+15.05%+30.44%+97.50%+21.70%-5.65%
Cost of Revenue15.25M19.93M30.26M55.22M93.64M70.48M38.90M179.58M669.96M804.38M801.55M
Gross Profit65.37M77.26M107.71M130.31M160.91M330.70M422.66M422.49M519.10M642.69M563.69M
Gross Margin81.08%79.50%78.07%70.24%63.21%82.43%91.57%70.17%43.66%44.41%41.29%
Operating Expense18.19M22.47M30.55M46.28M58.78M87.34M117.73M131.35M171.19M220.04M299.89M
Operating Income47.18M54.80M77.16M84.03M102.13M243.36M304.93M291.14M347.91M422.64M263.80M
Operating Margin58.52%56.38%55.93%45.29%40.12%60.66%66.06%48.36%29.26%29.21%19.32%
EBITDA47.48M55.07M77.46M84.49M102.99M245.25M307.12M293.63M350.76M425.66M267.26M
EBITDA Margin58.90%56.66%56.14%45.54%40.46%61.13%66.54%48.77%29.50%29.42%19.58%
Net Income28.38M33.13M54.68M62.87M77.33M180.53M227.10M219.72M279.23M320.39M218.77M
Net Income Margin35.21%34.08%39.63%33.89%30.38%45.00%49.20%36.49%23.48%22.14%16.02%
R&D0000-------
R&D as % of Total Revenue0.00%0.00%0.00%0.00%-------
Interest Expense14.29M18.97M27.79M50.59M89.70M58.64M33.89M162.28M629.73M780.10M683.79M
Interest Expense % of Total Revenue17.73%19.52%20.14%27.27%35.24%14.62%7.34%26.95%52.96%53.91%50.09%

Balance Sheet

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets2.27B2.72B3.40B3.88B6.37B9.65B11.28B12.62B16.95B18.81B19.45B
Total Liabilities2.12B2.51B3.03B3.46B5.72B1.37B10.12B11.16B15.25B16.56B17.17B
Total Equity148.20M206.29M367.47M421.24M653.73M8.28B1.16B1.46B1.70B2.24B2.28B
Cash446.80M445.70M359.52M336.52M506.71M179.73M1.03B226.16M584.42M476.61M15.84M
Total Debt57.49M57.01M81.61M195.45M187.98M2.22B1.33B940.39M964.13M4.34B3.84B
Net Debt-389.31M-388.69M-302.91M-141.07M-325.27M1.17B1.34M714.23M379.70M3.86B3.83B

Cash Flow

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow118.33M-149.77M-175.89M204.34M-1.26B-874.89M-49.22M975.77M-356.40M-835.28M-149.36M
Investing Cash Flow-349.33M-265.30M-523.14M-509.07M-957.67M-2.53B-474.26M-2.86B-3.26B-874.27M-387.56M
Financing Cash Flow448.15M413.97M612.84M282.48M2.38B3.08B1.38B1.08B3.97B1.60B272.51M
Capital Expenditure1.46M2.56M2.00M15.51M13.98M3.62M3.65M8.82M7.53M18.39M20.94M
Free Cash Flow116.87M-152.33M-177.88M188.83M-1.27B-878.51M-52.86M966.96M-363.93M-853.67M-170.30M
Dividends Paid4.22M6.22M7.95M10.22M17.25M23.67M31.23M38.07M48.51M51.17M59.42M
FCF to OCF98.77%101.71%101.14%92.41%101.11%100.41%107.41%99.10%102.11%102.20%114.02%
Dividend Paid to FCF3.61%-4.09%-4.47%5.41%-1.36%-2.69%-59.09%3.94%-13.33%-5.99%-34.89%

Earnings

Report DateJul 27, 2017Dec 7, 2017Feb 8, 2018Apr 30, 2018Jul 30, 2018Oct 30, 2018Jan 30, 2019Apr 30, 2019Jul 30, 2019Oct 30, 2019Jan 30, 2020Apr 23, 2020Jul 28, 2020Oct 28, 2020Jan 28, 2021Apr 28, 2021Jul 28, 2021Oct 28, 2021Jan 31, 2022Apr 28, 2022Jul 28, 2022Oct 27, 2022Jan 30, 2023Apr 27, 2023Jul 27, 2023Oct 26, 2023Jan 29, 2024Apr 29, 2024Jul 29, 2024Oct 28, 2024Jan 28, 2025Apr 28, 2025Jul 28, 2025Oct 28, 2025Jan 28, 2026Apr 28, 2026Jul 28, 2026Oct 27, 2026
EPS Estimate0.000.310.250.290.390.370.370.350.340.360.380.360.320.710.991.091.070.981.061.000.901.221.071.131.231.321.441.381.571.421.301.281.120.790.941.161.221.40
EPS Actual0.310.300.320.330.350.370.340.230.340.400.610.490.871.191.301.351.051.221.141.021.111.221.121.071.311.681.581.801.491.171.850.930.600.971.281.251.48-
Surprise--3.23%28.00%13.79%-10.26%0.00%-8.11%-34.29%0.00%11.11%60.53%36.11%171.88%67.61%31.31%23.85%-1.87%24.49%7.55%2.00%23.33%0.00%4.67%-5.31%6.50%27.27%9.72%30.43%-5.10%-17.61%42.31%-27.34%-46.43%22.78%36.17%7.76%21.31%-
Timing-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap2.39B
Enterprise Value6.45B
Trailing P/E10.46
Forward P/E0.00
Price / Sales3.78
Price / Book1.28
EPS4.98
Book Value40.11
Revenue (TTM)632.34M
Gross Profit (TTM)632.34M
Profit Margin42.47%
Operating Margin61.07%
Return on Equity11.73%
Return on Assets1.33%
Shares Outstanding45.94M
Shares Float25.37M
Beta1.14
Dividend Yield0.84%
Dividend Rate0.44
Payout Ratio8.63%

Analyst Ratings

Buy
Based on 3 analystsTarget 64.50
  • Buy
    2
  • Hold
    1

Ownership Breakdown

Institutions
99.17%
Insiders
45.95%
Retail / Other
0.00%

Top Institutional Holders

  • Elser Financial Planning, Inc
    26.81M58.36%
  • BlackRock Inc
    4.05M8.82%
  • Dimensional Fund Advisors, Inc.
    1.83M3.98%
  • Delaware Management Holdings Inc
    1.09M2.38%
  • State Street Corp
    1.03M2.25%
  • Vanguard Capital Management, LLC
    1.00M2.18%
  • American Century Companies Inc
    837.05K1.82%
  • Doma Perpetual Capital Management LLC
    810.08K1.76%
  • Geode Capital Management, LLC
    725.43K1.58%
  • Royce & Associates, LP
    567.27K1.23%
  • Vanguard Portfolio Management, LLC
    464.66K1.01%
  • Hotchkis & Wiley Capital Management LLC
    302.41K0.66%
  • Morgan Stanley - Brokerage Accounts
    298.06K0.65%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    1.79M3.90%
  • Avantis US Small Cap Value ETF
    736.83K1.60%
  • Nomura Small Cap Value A
    676.63K1.47%
  • Vanguard MStar Total Stk Mkt Idx Invest
    657.69K1.43%
  • iShares Russell 2000 ETF
    654.13K1.42%
  • Nomura VIP Small Cap Value Series Std
    356.95K0.78%
  • Royce Small-Cap Total Return Invmt
    301.62K0.66%

Dividends

20263×
0.11Sep 15, 20260.11Jun 15, 20260.11Mar 13, 2026
20254×
0.10Dec 15, 20250.10Sep 15, 20250.10Jun 13, 20250.10Mar 14, 2025
20244×
0.09Dec 13, 20240.09Sep 13, 20240.09Jun 14, 20240.09Mar 14, 2024
20234×
0.08Dec 14, 20230.08Sep 14, 20230.08Jun 14, 20230.08Mar 14, 2023
20224×
0.07Dec 14, 20220.07Sep 14, 20220.07Jun 14, 20220.07Mar 14, 2022
20214×
0.06Dec 14, 20210.06Sep 14, 20210.06Jun 14, 20210.06Mar 12, 2021
20201×
0.05Dec 14, 2020

Stock Splits

  • Jan 18, 20223:2