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Merchants Bancorp Inc.

MBIN

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Merchants Bancorp (the Company, Merchants, we, our, or us ), an Indiana corporation formed in 2006, is a diversified bank holding company headquartered in Carmel, Indiana and registered under the Bank Holding Company Act of 1956, as amended. We currently operate in multiple business segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcar…

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$2.45B
EPS$4.98
P/E10.73
Div. Yield2.46%
Net Margin–
P/Book1.0x
Merchants Bancorp Inc. intrinsic value
52-Week Range
$30.42$55.72

Profitability & Returns

Revenue

N/A

Net Income (TTM)

$269M

▼ -31.7% YoY

Net Margin

–

P/E

10.73

Balance Sheet

Total Assets

$21.23B

Equity

$2.39B

Total Debt

$15M

Cash & Equiv.

$842M

Continue Research

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Held by ETFs

MBIN is in 68 US ETFs. The largest of them, with MBIN's weight in each:

Merchants Bancorp (MBIN) in four numbers

Fair value (book value)
$82.95
Price $53.43 is 36% below it.
Intrinsic Value
Quality score
54/100
Best check: book value growth, 15.6%. Weakest: share count change, 6.2%.
Quality
Dividend (FY2025)
$1.29
2.42% yield, raised 5 years in a row.
Dividends
P/E
10.73
Price to free cash flow -3.21.
Financials

Questions about Merchants Bancorp

Is Merchants Bancorp (MBIN) overvalued?

At $53.43, Merchants Bancorp's price is 36% below the $82.95 a share fair value that Intrinsiqq's calculator gets from its book value. It trades at 10.73 times earnings. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Merchants Bancorp's fair value?

Intrinsiqq's calculator puts Merchants Bancorp's fair value at $82.95 a share. It grows book value per share 20% a year for 5 years, applies an exit P/B of 0.9, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $62.21. Every input can be changed on the Intrinsic Value tab.

Is Merchants Bancorp a high-quality business?

Merchants Bancorp scores 54 out of 100 on Intrinsiqq's quality score, which makes it a mixed business on these measures. The score blends 6 checks computed from SEC filings. Its best check is book value growth at 15.6%, and its weakest is share count change at 6.2%. The Quality tab shows every check against its target.

Does Merchants Bancorp (MBIN) pay a dividend, and how much?

Yes. Merchants Bancorp (MBIN) pays a dividend: $1.29 per share for fiscal 2025, a dividend yield of 2.42% at the latest close. It has raised its dividend per share for 5 years in a row, growing at 18.7% a year over the last 5 years. The payout takes about 22.5% of earnings.

Source: 10-Q filed 30 Jul 2026 (period ending 30 Jun 2026), SEC. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in MBIN's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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