Merchants Bancorp (MBIN) stock surged 7.55% in the pre-market trading session on Wednesday, following the release of its impressive fourth-quarter earnings results. The regional bank reported quarterly adjusted earnings per share (EPS) of $1.85, significantly outpacing the analysts' consensus estimate of $1.29 and the previous year's Q4 EPS of $1.58.
The company's revenue soared 27.5% year-over-year to $193.77 million, exceeding Wall Street's expectations of $158.80 million. Merchants Bancorp's strong financial performance can be attributed to robust growth across its various business segments, as well as effective cost management strategies.
Analysts have reacted positively to the earnings beat, with the current average rating on the stock being a "buy." Wall Street's median 12-month price target for Merchants Bancorp stands at $50.00, indicating potential further upside for the stock.
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