80wk Uptrend — rising+above (sma 39.85 vs px 48.92)
200wk Uptrend — rising+above (sma 37.25 vs px 48.92)
Funds Accumulating — momZ +2.11 · 1.93→2.14
Short Squeeze Setup — velZ +1.22 · age 28w×0.98 · 7.16%
Founder-Led — founder/CEO led
Earnings Tailwind — ER in 18.09d · w1 med 4.1% (mag 3/3) · winRate 58.3% (rel 1/3) · n36
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
$48.92
Market Cap
$2.27B
Float
25.4M
Shares Outstanding
45.9M
P/E (TTM)
9.94
Price/Sales (TTM)
3.59
vs. Analyst Target
+30.8% to analyst PT
Profit Margin
42.47%
Operating Margin (TTM)
61.07%
Revenue (TTM)
$632M
Earnings Growth (YoY)
146.70%
Dividend Rate
0.4%
Analyst Target Price
$64.00 (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
Sep 2025
$344M
$54.7M
Dec 2025
$355M
$67.8M
Mar 2026
$317M
$67.7M
Jun 2026
$247M
$78.3M
Ownership & Float
Insider Ownership
46.0%
Institutional Ownership
40.8%
Short Float
7.2%
% of All Funds Holding
2.14%
Number of Funds Holding
188
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
$52.61
Near-term / short-term trend
Weekly
40-Week SMA
$47.10
Medium-term trend
Weekly
80-Week SMA
$39.85
Cyclical trend (business cycle)
Weekly
200-Week SMA
$37.25
Secular trend (multi-year)
Monthly
10-Month SMA
$47.60
Near-term monthly trend
Monthly
20-Month SMA
$39.98
Medium-term monthly trend
Monthly
40-Month SMA
$39.45
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
13 months ago
Historical Earnings Reactions (36 events)
Timeframe
Avg Return
Median
Win Rate
Best
Worst
Gap
1.01%
1.29%
66.67%
8.27%
-9.97%
1 Day
0.46%
2.18%
61.11%
15.71%
-17.91%
1 Week
2.48%
4.13%
58.33%
20.66%
-23.15%
2 Weeks
3.26%
3.55%
61.11%
35.16%
-21.15%
1 Month
4.36%
1.99%
60.00%
36.40%
-24.40%
Next earnings: October 27, 2026 (16 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
2.8%
66.7%
9
Jun
1.8%
66.7%
9
Jul
3.8%
55.6%
9
Aug
0.9%
66.7%
9
Sep
-2.7%
22.2%
9
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
0.26%
53.4%
421
Tuesday
-0.04%
49.7%
463
Wednesday
0.04%
49.9%
459
Thursday
0.12%
53.7%
451
Friday
0.13%
51.1%
450
Top Institutional Holders
Institutional holder breakdown coming soon.
Total institutional ownership: 40.8%
Insider Transactions — Smart Summary
Total insider ownership: 46.0%
Founder-led management: Michael Petrie (Co-Founder, Chairman & CEO)
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The analysis covers five layers:
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