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%.
Merchants 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
- 882 investors monitor the stock on Seeking Alpha
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 yourself
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
