Stock analysis, trade plans, and proprietary indicators by Trend Edge.
About Merchants Bancorp
Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. 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 … Read full Trend Edge analysis →
Sector: Financial Services
Industry: Banks-Regional
Exchange: NASDAQ
IPO Date: October 27, 2017
Headquarters: 410 Monon Boulevard, Carmel, IN, United States, 46032
Hidden Gem: Yes — undiscovered relative to its market cap tier
Founder-Led: Yes — Michael Petrie (Co-Founder, Chairman & CEO)
Key Metrics
Current Price
$46.71
Market Cap
$2.12B
Float
28.8M
Shares Outstanding
45.9M
P/E (TTM)
11.25
Price/Sales (TTM)
3.62
vs. Analyst Target
+10.6% to analyst PT
Profit Margin
38.99%
Operating Margin (TTM)
57.97%
Revenue (TTM)
$585M
Earnings Growth (YoY)
34.50%
Dividend Rate
0.4%
Analyst Target Price
$51.67 (3 analysts)
Financial History
Annual Revenue & Earnings History
Year
Revenue
Net Income
Gross Profit
EBITDA
2020
$401M
$181M
$331M
$245M
2021
$462M
$227M
$423M
$307M
2022
$602M
$220M
$422M
$294M
2023
$1.19B
$279M
$519M
$351M
2024
$1.45B
$320M
$643M
$426M
2025
$1.37B
$219M
$564M
$267M
Recent Quarterly Revenue & Net Income
Quarter
Revenue
Net Income
Jun 2025
$354M
$38.0M
Sep 2025
$344M
$54.7M
Dec 2025
$355M
$67.8M
Mar 2026
$317M
$67.7M
Ownership & Float
Insider Ownership
46.0%
Institutional Ownership
99.9%
Short Float
6.0%
% of All Funds Holding
1.95%
Number of Funds Holding
160
Current Moving Averages
Trend Edge tracks near-term, medium-term, cyclical, and secular moving averages across weekly and monthly timeframes to identify trend structure at every horizon.
Timeframe
SMA
Value
Trend Context
Weekly
10-Week SMA
$46.19
Near-term / short-term trend
Weekly
40-Week SMA
$38.31
Medium-term trend
Weekly
80-Week SMA
$36.99
Cyclical trend (business cycle)
Weekly
200-Week SMA
$34.79
Secular trend (multi-year)
Monthly
10-Month SMA
$38.21
Near-term monthly trend
Monthly
20-Month SMA
$37.04
Medium-term monthly trend
Monthly
40-Month SMA
$36.25
Secular monthly trend
Volume Shelves — Support & Resistance
Trend Edge identifies volume shelves: price zones where historically elevated trading volume
creates structural support or resistance. A volume shelf forms when a disproportionate share of cumulative
volume was transacted at a specific price level, making it a high-conviction anchor for future price reactions.
Price Level
Type
Volume Ratio
Age
$29.70
support
1.24x
8 months ago
Historical Earnings Reactions (35 events)
Timeframe
Avg Return
Median
Win Rate
Best
Worst
Gap
0.88%
1.26%
65.71%
8.27%
-9.97%
1 Day
0.15%
2.00%
60.00%
15.71%
-17.91%
1 Week
2.16%
3.97%
57.14%
20.66%
-23.15%
2 Weeks
3.00%
3.35%
60.00%
35.16%
-21.15%
1 Month
4.69%
2.00%
61.76%
36.40%
-24.40%
Next earnings: July 17, 2026 (50 days away)
Seasonality & Day-of-Week Patterns
Monthly Seasonality
Month
Avg Return
Win Rate
Samples
Jan
6.6%
66.7%
9
Feb
1.6%
55.6%
9
Mar
-1.2%
55.6%
9
Apr
-3.5%
33.3%
9
May
2.9%
62.5%
8
Jun
1.3%
62.5%
8
Jul
3.0%
50.0%
8
Aug
1.6%
75.0%
8
Sep
-2.2%
25.0%
8
Oct
0.4%
50.0%
8
Nov
9.2%
100.0%
9
Dec
2.5%
66.7%
9
Day-of-Week Tendencies
Day
Avg Return
Win Rate
Samples
Monday
0.29%
54.3%
403
Tuesday
-0.04%
49.7%
445
Wednesday
0.03%
50.5%
440
Thursday
0.10%
53.2%
432
Friday
0.12%
50.6%
433
Top Institutional Holders
Institutional holder breakdown coming soon.
Total institutional ownership: 99.9%
Insider Transactions — Smart Summary
Total insider ownership: 46.0%
Founder-led management: Michael Petrie (Co-Founder, Chairman & CEO)
Trend Edge's AI Consult feature delivers a comprehensive, multi-layer trade plan for Merchants Bancorp
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The analysis covers five layers:
technical analysis (near-term, medium-term, cyclical, and secular trend, momentum,
volume shelf support and resistance, breakout and breakdown signals),
qualitative analysis (business model, competitive moat, sector dynamics),
insider sentiment (buy and sell signals from executive and director transactions),
share stats analysis (institutional accumulation, fund positioning, short float squeeze potential), and
fundamental analysis (valuation, revenue growth, profit margin, earnings quality).
AI Consult synthesizes all five layers into a single bullish or bearish thesis with explicit entry, exit,
stop loss, and take profit levels — giving you a complete, AI-powered trade plan with defined risk/reward.
Whether you are building a long position, initiating a short, or looking for a reversal setup,
AI Consult identifies the highest-probability signal from the current trend.