Chart Of The Day: Merchants Bancorp - Banking On Real Estate -

Chart Of The Day: Merchants Bancorp – Banking On Real Estate

Dec 27, 2023Jeremy ParkinsonFinance, No picture0

The Chart of the Day belongs to the regional bank Merchants Bancorp (MBIN). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 10 /30 the stock gained 45.57%. MBIN Price vs Daily Moving AveragesMerchants Bancorp operates as the diversified bank holding company in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities; offers customized loan products for need-based skilled nursing facilities, independent living, assisted living, and memory care; and tax credit equity syndicator. Its Mortgage Warehousing segment funds agency eligible residential loans including origination, purchase, and sale in the secondary market, as well as commercial loans to non-depository financial institutions. The Banking segment offers a range of financial products and services to consumers and businesses, which includes retail banking, commercial lending, agricultural lending, retail and correspondent residential mortgage banking, and small business administration lending. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.Barchart Technical Indicators:

100% technical buy signals

97.50+ Weighted Alpha

76.00% gain in the last year

Trend Seeker buy signal

Above its 20, 50 and 100 day moving averages

18 new highs and up 28.20% in the last month

Relative Strength Index 88.31%

Technical support level at $42.36

Recently traded at $43.19 with 50 day moving average of $33.38

Fundamental Factors:

Market Cap $1.81 billion

P/E 8.09

Dividend yield .76%

Revenue expected to grow 19.90% this year and another .70% next year

Earnings are estimated to increase 23.00% this year

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts issued 3 strong buy, and 3 buy recommendations on the stock

Analysts price target are between $44 and $47

The individual investors following the stock on Motley Fool voted 7 to 1 for the stock to beat the market

Value Line gives the stock an above average rating of 2

CFRA’s MarketScope gives the stock a hold

Special Note: With all the professionals having strong buy and buy recommendations does it make sense that their price targets are below today’s price??? This is a good reason why you should do your own research and think for yourselfMore By This Author:Chart Of The Day: JFrog – Leap Frogs The Rest
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