Merchants Bancorp reports results for the quarter ended in June - Earnings Summary

Merchants Bancorp

29/07/2024 22:51

* Merchants Bancorp  MBIN.OQ  reported quarterly adjusted
earnings
of $1.49​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
$1.31.  The mean expectation of two analysts for the quarter was
for earnings of $1.57 per share. Wall Street expected results to
range from $1.49  to $1.64 per share.
    * Revenue rose 17.7% to $159.47 million from a year ago;
analysts
expected $160.70 million. 
    * Merchants Bancorp's reported EPS for the quarter was
$1.49​.
    * The company reported quarterly net income of $66.81
million.
    * Merchants Bancorp shares had risen by 29.7% this
quarter and
gained 23.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 11.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 2 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "buy."

Wall Street's median 12-month price target for Merchants Bancorp
is $55.50 
This summary was machine generated from LSEG data July 29 at
09:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.57           1.49           Missed
 Mar. 31 2024      1.37           1.80           Beat
 Dec. 31 2023      1.44           1.58           Beat
 Sep. 30 2023      1.32           1.68           Beat