Merchants Bancorp Up 9.22% To $28.79 After Earnings Beat

Merchants Bancorp (MBIN) said after close Monday that it earned $1.12 per share in quarter four 2022.

On the revenue line, the company reported $118.4 million, beating estimates by $7 million.

In the same quarter a year ago, the company earned $1.14 per share on revenue of $113 million.

The stock is up 9.22% to $28.79 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Merchants Bancorp a Bullish Sentiment Rank from InvestorsObserver.

Merchants Bancorp has performed a little above average during the past few months. Before the report, Merchants Bancorp received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm set a 52-week low on July 14, 2022 at $21.52 and set a 52-week high on February 8, 2022 at $31.74.

Merchants Bancorp is a US-based bank holding company. It operates multiple lines of business focusing on FHA (Federal Housing Administration) multi-family housing and healthcare facility financing and servicing, retail and correspondent residential mortgage banking, traditional community banking. The business segments of the company are: Multi-family Mortgage Banking which originates and services government-sponsored mortgages for multi-family and healthcare facilities; Mortgage Warehousing segment which funds agency-eligible residential loans as well as commercial loans to nondepository financial institutions; and Banking segment that provides a wide range of financial products and services to consumers and businesses, including commercial and other consumer loan products.