I forgot all about this one.
Did this ever trade under its temp OTC ticker MBIPL?
I looked for it last Friday but Merrill had no info.
Since then I've been preoccupied with Hurricane Ian. Last night
a tornado touched down less than 10 miles from our house! And
we're still under a tornado warning today.
Anyone go to Merchants Bancorp web site? I wanted to check
to see if they had a list of analysts that cover the company.
I tried with two different browsers and both browsers gave me
security warnings for their web site, so I declined to take the risk.
Although it might be a big nothing, for me that's a big negative.
On the positive side, I found a bullish report from Raymond James
Here's a brief clip:
We reiterate our Strong Buy rating on MBIN shares following its release of 2Q results. A very
strong quarter was highlighted by 71% annualized loan HFI growth, 41 bp of NIM expansion and
a beat on fee income, which drove a significant increase in EPS estimates and a $4 increase in
our price target to $37. NIM expansion should continue although slow as funding costs will rise
significantly as loan yields rise while loan growth particularly in its core businesses of multifamily
and healthcare finance should remain strong. As a result of solid-to-strong growth, above-peer
profitability metrics, and below-peer credit risk, we believe shares of MBIN should outperform
peers, particularly trading at discounted P/TBV and P/E multiples to peers.