LIVE

MBIN

Merchants Bancorp

MBIN

NASDAQ·Financial Services·Banks - Regional·Mkt cap $2.3B

$48.82

▼ -1.89%

View full research view

Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

View research view

52-Week Range

$28.75 - $51.47

P/E

11.91

Fwd P/E

9.38

Beta

1.16

Div Yield

0.84%

Avg Vol

165.5K

Shares Out

46.0M

Mkt Cap

$2.3B

Price action

Price chart

Up 41.2% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

4 reasons

  • Specialized expertise in multi-family and healthcare facility lending with government-sponsored mortgage focus
  • Diversified revenue streams across mortgage banking, warehousing, and traditional banking reduce concentration risk
  • Low-income housing tax credit syndication capabilities provide unique value-added services and recurring revenue
  • Established relationships with non-depository financial institutions in mortgage warehousing segment
▼

Bear Case

2 risks

  • Average volatility.
  • Growth premium of 0.8x vs Commercial Banking peers. Reasonable for this growth rate.

Growth

Revenue decline expected

Increasing demand for multi-family housing and senior living facilities driven by demographic trends

Value

Growth premium of 0.8x vs Commercial Banking peers. Reasonable for this growth rate.

Momentum

Strong

+11.8% over 3m

Quality

Strong

High-growth business (69% revenue growth, 43% gross margin). Profitable with strong growth momentum.

Dividend

Modest

0.84% yield

Earnings track record

Latest print - beat on both lines

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Apr 27, 2026

“
Q2 26 RECAP

APR 28, 2026

Reported EPS of $1.25 vs $1.16 consensus (+7.8% surprise). Revenue of $175.2M vs $174.3M expected (+0.5%). Beat on both top and bottom lines.

EPS beat +7.8%
Rev beat +0.5%
Double beat

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+7.8%

Next: Apr 27, 2026

Revenue trend · last 8Q

—

—

+22%

-13%

+12%

+14%

+84%

+2%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$158.5M

$148.4M

$193.1M

$310.1M

$353.7M

$343.5M

$354.7M

$317.1M

Margins · last 8Q

Gross

—

Operating

—

Profit

21.4%

View full earnings history →

Wall Street consensus

2 analysts · 50% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

1

50%

Hold

1

50%

Sell

0%

Median Price Target

$51.00

▲ +4.5% vs $48.82

Low $49.00
Median $51.00
High $58.00

Latest: Raymond James · Jul 1, 2026

3 analysts covering

View full analyst page →

vs Industry

How MBIN stacks vs Banks - Regional

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.