Merchants Bancorp (MBIN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Merchants Bancorp (MBIN) reported a revenue of $149.56 million for Q3 2024, reflecting a year-over-year decline of 2.6% and an EPS of $1.17, down from $1.68 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $156.13 million by 4.21%, while the EPS missed the consensus estimate of $1.42 by 17.61% [1] Financial Performance Metrics - Net interest margin stood at 3%, matching the three-analyst average estimate [3] - Average earning assets were reported at $17.70 billion, slightly above the three-analyst average estimate of $17.62 billion [3] - Total capital/risk-weighted assets ratio was 12.4%, exceeding the two-analyst average estimate of 12.1% [3] - Tier I capital/risk-weighted assets ratio was 11.7%, compared to the 11.6% average estimate from two analysts [3] - Loan servicing fees (costs), net, were -$1.51 million, significantly lower than the $2.94 million estimated by three analysts [3] - Syndication and asset management fees were $1.83 million, below the $3.24 million average estimate [3] - Other income reported was -$1.93 million, compared to the $4.47 million estimated by three analysts [3] - Mortgage warehouse fees were $1.62 million, below the $2.03 million average estimate [3] - Total noninterest income was $16.74 million, significantly lower than the three-analyst average estimate of $24.05 million [3] - Gain on sale of loans was $16.73 million, exceeding the three-analyst average estimate of $11.70 million [3] - Net interest income was reported at $132.82 million, slightly above the three-analyst average estimate of $132.42 million [3] Stock Performance - Shares of Merchants Bancorp have declined by 3.5% over the past month, contrasting with a 2% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]