MBIN

- Farmers & Merchants Bancorp reported third quarter 2026 results, with net interest income of US$58.32 million, net income of US$25.08 million, and higher basic and diluted earnings per share from continuing operations than the same period in 2025. - The nine month figures showed net interest income of US$172.58 million and net income of US$73.89 million, indicating that profitability from the core lending and deposit franchise has been running ahead of the prior year period. - We will now look at how Farmers & Merchants Bancorp's investment narrative may be influenced by stronger third quarter earnings per share. Scan how Farmers & Merchants Bancorp's earnings story compares with other financially solid regional lenders by reviewing our curated list of solid balance sheet and fundamentals (26 results) alongside this latest quarter. To own Farmers & Merchants Bancorp, you need to believe in a straightforward banking story. The bank leans on a traditional lending and deposit engine, where net interest income of US$58.32 million in the third quarter and US$172.58 million for the first nine months of 2026 reflects that core. Recent earnings per share from continuing operations, both basic and diluted, moved higher than the prior year period, which supports the idea that the current playbook around pricing, funding mix, and credit discipline is still working. Short term, the stronger third quarter result matters most if you care about two levers. First, whether Farmers & Merchants Bancorp can keep funding that 1.43% dividend from what are described as high quality earnings. Second, whether a P/E of 10.4x, below both peer and broader US banks averages, continues to attract patient holders after a strong 1 year total return. The bigger operational risk sits in execution against that track record of 7.6% annual earnings growth over 5 years, especially with no clear external forecasts to anchor what comes next. That said, one pressure point does sit uncomfortably alongside this solid quarter... There's only one way to know the right time to buy, sell or hold Farmers & Merchants Bancorp. Head to Simply Wall St's company report for the latest analysis of Farmers & Merchants Bancorp's Fair Value. Fair value views on Farmers & Merchants Bancorp from three members of the Simply Wall St Community span from US$1,167.75 to more than US$2.6m, which shows that opinions can be widely different. These pre earnings estimates sit alongside fresh profit data, so treat them as starting points and explore several contrasting viewpoints before deciding how the story fits your own expectations. Explore 2 other Farmers & Merchants Bancorp fair value estimates, including one that suggests as much as 175152% upside from the current price! Don't just follow the ticker, dig into the data and build a conviction that's truly your own. - A great starting point for your Farmers & Merchants Bancorp research is our analysis highlighting 3 key rewards that could impact your investment decision. - See our latest analysis for Farmers & Merchants Bancorp. The report includes a comprehensive fundamental analysis summarized in a single visual, the Snowflake, making it easy to evaluate Farmers & Merchants Bancorp's overall financial health at a glance. Once you have a view on Farmers & Merchants Bancorp, it can help to compare that thesis with other businesses that share some of the traits you care about most, whether that is income strength, quality at a reasonable price, or a focus on resilience. - If value is your priority, line up Farmers & Merchants Bancorp against a wider field of companies that screen as attractively priced with solid fundamentals through 29 high quality undervalued stocks. - If income reliability ranks higher for you, contrast the dividend profile here with a curated group of high yield payers labelled as 6 dividend fortresses. - If staying on the front foot about risk is more important, stress test your portfolio ideas against companies that appear more resilient on key metrics by scanning the 30 resilient stocks with low risk scores. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include FMCB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Bar Harbor Bankshares (BHB) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +11.83%. A quarter ago, it was expected that this bank would post earnings of $0.92 per share when it actually produced earnings of $0.92, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Bar Harbor, which belongs to the Zacks Banks - Northeast industry, posted revenues of $51.56 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $47.53 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Bar Harbor shares have added about 24.5% since the beginning of the year versus the S&P 500's gain of 13.3%. While Bar Harbor has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Bar Harbor was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.92 on $50.14 million in revenues for the coming quarter and $3.60 on $195.98 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Merchants Bancorp (MBIN), has yet to report results for the quarter ended September 2026. The results are expected to be released on October 28. This bank holding company is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of +43.3%. The consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. Merchants Bancorp's revenues are expected to be $184.13 million, up 7.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bar Harbor Bankshares, Inc. (BHB) : Free Stock Analysis Report Merchants Bancorp (MBIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year increase in earnings on higher revenues when First Mid Bancshares (FMBH) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This bank holding company is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of +18.6%. Revenues are expected to be $107.42 million, up 20.3% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.54% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For First Mid Bancshares, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.61%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination indicates that First Mid Bancshares will most likely beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that First Mid Bancshares would post earnings of $1.12 per share when it actually produced earnings of $1.26, delivering a surprise of +12.50%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. First Mid Bancshares appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Banks - Northeast industry, Merchants Bancorp (MBIN), is soon expected to post earnings of $1.39 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +43.3%. Revenues for the quarter are expected to be $184.13 million, up 7.6% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Merchants Bancorp has been revised 0.5% up to the current level. Nevertheless, the company now has an Earnings ESP of -0.96%, reflecting a lower Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Merchants Bancorp will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Mid Bancshares, Inc. (FMBH) : Free Stock Analysis Report Merchants Bancorp (MBIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Merchants Bancorp (MBIN) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on October 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This bank holding company is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of +43.3%. Revenues are expected to be $184.13 million, up 7.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.46% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Merchants Bancorp, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.96%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Merchants Bancorp will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Merchants Bancorp would post earnings of $1.22 per share when it actually produced earnings of $1.48, delivering a surprise of +21.31%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Merchants Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. NBT Bancorp (NBTB), another stock in the Zacks Banks - Northeast industry, is expected to report earnings per share of $1.09 for the quarter ended September 2026. This estimate points to a year-over-year change of +3.8%. Revenues for the quarter are expected to be $193.13 million, up 3.5% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for NBT has been revised 0.4% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.01%, reflecting a higher Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that NBT will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merchants Bancorp (MBIN) : Free Stock Analysis Report NBT Bancorp Inc. (NBTB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the regional banks industry, including Merchants Bancorp (NASDAQ:MBIN) and its peers. Regional banks, financial institutions operating within specific geographic areas, serve as intermediaries between local depositors and borrowers. They benefit from rising interest rates that improve net interest margins (the difference between loan yields and deposit costs), digital transformation reducing operational expenses, and local economic growth driving loan demand. However, these banks face headwinds from fintech competition, deposit outflows to higher-yielding alternatives, credit deterioration (increasing loan defaults) during economic slowdowns, and regulatory compliance costs. Recent concerns about regional bank stability following high-profile failures and significant commercial real estate exposure present additional challenges. The 94 regional banks stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates. While some regional banks stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.5% since the latest earnings results. With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services. Merchants Bancorp reported revenues of $182.2 million, up 1.7% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a miss of analysts’ net interest income estimates. Interestingly, the stock is up 7.9% since reporting and currently trades at $52.63. Is now the time to buy Merchants Bancorp? Access our full analysis of the earnings results here, it’s free. Originally founded in 1964 as a federal savings and loan institution, OFG Bancorp (NYSE:OFG) provides banking and financial services including commercial and consumer lending, wealth management, insurance, and trust services primarily in Puerto Rico and the U.S. Virgin Islands. OFG Bancorp reported revenues of $190.3 million, up 4.4% year on year, outperforming analysts’ expectations by 3.9%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ net interest income estimates. The market seems happy with the results as the stock is up 5% since reporting. It currently trades at $52.51. Is now the time to buy OFG Bancorp? Access our full analysis of the earnings results here, it’s free. Originally established in 1941 and now operating with a tech-forward approach that includes its SmartStreet platform for homeowner associations, Banc of California (NYSE:BANC) is a California-based bank holding company that provides banking services to small and middle-market businesses, entrepreneurs, and individuals. Banc of California reported revenues of $285.7 million, up 4.7% year on year, falling short of analysts’ expectations by 3.1%. It was a disappointing quarter as it posted a significant miss of analysts’ tangible book value per share estimates and a significant miss of analysts’ net interest income estimates. As expected, the stock is down 13.7% since the results and currently trades at $18.29. Read our full analysis of Banc of California’s results here. Founded in 1800 and operating as Rhode Island's oldest community bank, Washington Trust Bancorp (NASDAQ:WASH) is a regional bank holding company offering commercial banking, mortgage lending, personal banking, and wealth management services. Washington Trust Bancorp reported revenues of $60.65 million, up 11.3% year on year. This number beat analysts’ expectations by 2.1%. More broadly, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but net interest income in line with analysts’ estimates. The stock is up 8% since reporting and currently trades at $39.23. Read our full, actionable report on Washington Trust Bancorp here, it’s free. Tracing its roots back to 1864 during the Civil War era, First Horizon (NYSE:FHN) is a Tennessee-based bank holding company that provides commercial and consumer banking, wealth management, and specialty financial services across multiple states. First Horizon reported revenues of $890 million, up 6.7% year on year. This result surpassed analysts’ expectations by 1%. Aside from that, it was a mixed quarter as it produced a slight miss of analysts’ net interest income estimates. The stock is down 7.1% since reporting and currently trades at $23.90. Read our full, actionable report on First Horizon here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry analysis delivered straight to their inbox with the free CRE Daily newsletter. Q2 2026 earnings show major differences among community banks with multifamily exposure, influenced by risk strategy and geography. Banks with similar multifamily concentrations produced sharply different results, highlighting the limits of concentration as a risk metric. Outcomes in New York rent-regulated multifamily underline the outsized impact of local policy and underwriting discipline on loan performance. Second-quarter results from community banks with large multifamily portfolios reveal sharp performance differences. Those gaps also stand out against larger super-regional banks. Trepp’s Q2 review shows banks with similar balance sheets followed very different strategies. Merchants Bancorp continued expanding its multifamily portfolio. Mechanics Bancorp kept reducing its exposure. Trepp and CRE analysts say strategy and risk appetite matter more than loan concentration alone. Business models, risk transfer, and regulation now shape performance more than portfolio size. Government policies also influenced results this quarter. Trepp says income-based programs squeezed margins, while supply-focused federal programs supported selected lenders. Meanwhile, bank mergers reduced the number of community lenders. As a result, isolated losses now carry greater weight across the sector. Trepp reviewed 10 banks with meaningful multifamily exposure. Results and lending pipelines varied widely. Merchants Bancorp increased net income by 106%. It also posted its 30th consecutive record quarter for tangible book value. The bank expanded its multifamily portfolio by 10% to $5.86B. That portfolio now represents 47% of total loans receivable. Meanwhile, Bank of California reported a $251.3M loss. It sold $2.3B of lower-yielding securities and started selling $827M of CRE and multifamily construction loans. Most banks reported their strongest net interest margins in years. However, six banks continued reducing multifamily exposure. Legacy thrifts tied to New York’s rent-stabilized market led that trend. Only Merchants and Columbia expanded their portfolios. Dime is lowering multifamily exposure toward 25% of its portfolio. Kearny continues shifting toward C&I and construction lending. Mechanics kept its multifamily portfolio flat through a conservative runoff strategy. It also maintained strict underwriting and avoided nondepository exposure. These approaches produced very different risk and return profiles across similar banks. Exposure alone does not explain performance differences. Trepp says ConnectOne, with large New York rent-stabilized holdings, recorded a $13.8M charge-off on troubled loans. Reserve releases partly offset those losses. The bank is also considering a bulk sale of its rent-stabilized portfolio. Merchants uses sophisticated risk distribution strategies. Criticized loans and provisions declined sharply. However, its non-performing loan ratio remains 1.67%. Mechanics follows a hold-to-maturity model with low leverage. It has not reported multifamily losses since 2016. Loan performance also varies by financing structure. Trepp reports agency multifamily special servicing rates at 0.36%. Conduit CMBS reached 2.06%, while CRE CLOs hit 3.58%. Those figures show multifamily risk depends on loan structure and investment strategy. Geography also shapes outcomes. Legacy New York thrifts face mounting pressure from the 2019 rent law. A citywide rent freeze begins for most leases in October 2026. Similar regulatory pressures have also reshaped commercial property performance, especially for retail landlords navigating New York’s evolving rent rules. That policy has already sparked litigation from affected banks. Meanwhile, Los Angeles lenders like Mechanics continue reporting low non-performing loan rates through conservative underwriting and modest leverage. Q2 2026 earnings reinforce a key point. Multifamily exposure alone does not determine bank risk. Trepp’s data shows underwriting discipline, portfolio seasoning, risk transfer, and local housing policy drive results. Legacy New York thrifts face ongoing pressure. The 2019 Housing Stability and Tenant Protection Act limits rent growth. A citywide rent freeze for 2026 and 2027 adds further pressure. Those policies compress margins and increase loss reserves. ConnectOne and Dime responded with charge-offs, additional provisions, and, in one case, a proposed portfolio sale. Meanwhile, Merchants spreads risk through GSE securitizations, credit default swaps, and warehouse lending. Those strategies help contain losses despite relatively high non-performing loan ratios. Mechanics demonstrates a different path. Conservative runoff, seasoned loans, and low leverage continue protecting asset quality. Those factors help reduce volatility despite meaningful multifamily exposure. For CRE investors and lenders, headline concentration ratios rarely tell the full story. Community bank mergers have reduced the number of comparable lenders. Consequently, one bank’s losses can shift sentiment across the entire segment. Trepp argues investors should evaluate business models, risk management, and local legislative risks before judging multifamily credit exposure. Community bank mergers continue shrinking the sector. That trend increases the market impact of each bank’s quarterly results. New York’s rent freeze begins for most leases in October 2026. Litigation over rent regulations also remains unresolved. Banks outside legacy rent-stabilized markets appear better positioned. Lenders that distribute risk through securitizations and swaps also have stronger prospects for stable margins and asset quality. Investors should expect continued segmentation across multifamily lending. Underwriting standards will receive closer scrutiny. Market concentration will likely increase among institutions able to tailor strategies to specific portfolios and local markets. Procore Launches Asset Register to Streamline Digital Handovers NYC CMBS Loan Faces $80M Loss Risk as Rent Freeze Looms Snapchat Signs 199K SF Lease at Manhattan’s PENN 2

Merchants Bancorp (MBIN) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this bank holding company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Merchants Bancorp, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: For the current quarter, the company is expected to earn $1.40 per share, which is a change of +44.3% from the year-ago reported number. Over the last 30 days, three estimates have moved higher for Merchants Bancorp compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 7.95%. The company is expected to earn $5.58 per share for the full year, which represents a change of +47.6% from the prior-year number. There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, three estimates have moved up for Merchants Bancorp versus no negative revisions. This has pushed the consensus estimate 8.35% higher. Thanks to promising estimate revisions, Merchants Bancorp currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Investors have been betting on Merchants Bancorp because of its solid estimate revisions, as evident from the stock's 13% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merchants Bancorp (MBIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Merchants Bancorp (MBIN) came out with quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $0.6 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +21.31%. A quarter ago, it was expected that this bank holding company would post earnings of $1.16 per share when it actually produced earnings of $1.25, delivering a surprise of +7.76%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Merchants Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $182.22 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.13%. This compares to year-ago revenues of $179.2 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Merchants Bancorp shares have added about 42% since the beginning of the year versus the S&P 500's gain of 8.3%. While Merchants Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Merchants Bancorp was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.30 on $185.19 million in revenues for the coming quarter and $5.15 on $734.26 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, First Internet Bancorp (INBK), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This internet bank is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. First Internet Bancorp's revenues are expected to be $42.45 million, up 26.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merchants Bancorp (MBIN) : Free Stock Analysis Report First Internet Bancorp (INBK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Diversified bank holding company Merchants Bancorp (NASDAQCM:MBIN) met Wall Street’s revenue expectations in Q2 CY2026, with sales up 1.7% year on year to $182.2 million. Its GAAP profit of $1.48 per share was 22.3% above analysts’ consensus estimates. Is now the time to buy Merchants Bancorp? Find out in our full research report. Net Interest Income: $136.5 million vs analyst estimates of $139.3 million (6.1% year-on-year growth, 2% miss) Net Interest Margin: 2.8% vs analyst estimates of 2.9% (9.5 basis point miss) Revenue: $182.2 million vs analyst estimates of $181.8 million (1.7% year-on-year growth, in line) Efficiency Ratio: 40.2% vs analyst estimates of 42.9% (270 basis point beat) EPS (GAAP): $1.48 vs analyst estimates of $1.21 (22.3% beat) Tangible Book Value per Share: $39.93 vs analyst estimates of $39.62 (12.7% year-on-year growth, 0.8% beat) Market Capitalization: $2.22 billion With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services. Two primary revenue streams drive bank earnings. While net interest income, which is earned by charging higher rates on loans than paid on deposits, forms the foundation, fee-based services across banking, credit, wealth management, and trading operations provide additional income. Luckily, Merchants Bancorp’s revenue grew at a decent 10.7% compounded annual growth rate over the last five years. Its growth was slightly above the average banking company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Merchants Bancorp’s recent performance shows its demand has slowed as its annualized revenue growth of 5.6% over the last two years was below its five-year trend. We’re wary when companies in the sector see decelerations in revenue growth, as it could signal changing consumer tastes aided by low switching costs. Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business. This quarter, Merchants Bancorp grew its revenue by 1.7% year on year, and its $182.2 million of revenue was in line with Wall Street’s estimates. Net interest income made up 75% of the company’s total revenue during the last five years, meaning lending operations are Merchants Bancorp’s largest source of revenue. Our experience and research show the market cares primarily about a bank’s net interest income growth as non-interest income is considered a lower-quality and non-recurring revenue source. ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention. AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice. Banks profit by intermediating between depositors and borrowers, making them fundamentally balance sheet-driven enterprises. Market participants emphasize balance sheet quality and sustained book value growth when evaluating these institutions. When analyzing banks, tangible book value per share (TBVPS) takes precedence over many other metrics. This measure isolates genuine per-share value by removing intangible assets of debatable liquidation worth. Other (and more commonly known) per-share metrics like EPS can sometimes be murky due to M&A or accounting rules allowing for loan losses to be spread out. Merchants Bancorp’s TBVPS grew at an incredible 20.5% annual clip over the last five years. TBVPS growth has recently decelerated to 13% annual growth over the last two years (from $31.27 to $39.93 per share). Over the next 12 months, Consensus estimates call for Merchants Bancorp’s TBVPS to grow by 11.5% to $44.54, mediocre growth rate. It was good to see Merchants Bancorp beat analysts’ EPS expectations this quarter. We were also happy its tangible book value per share narrowly outperformed Wall Street’s estimates. On the other hand, its net interest income missed. Overall, this print was mixed. The stock remained flat at $48.72 immediately after reporting. Big picture, is Merchants Bancorp a buy here and now? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it’s free.

For the quarter ended June 2026, Merchants Bancorp (MBIN) reported revenue of $182.22 million, up 1.7% over the same period last year. EPS came in at $1.48, compared to $0.60 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $181.98 million, representing a surprise of +0.13%. The company delivered an EPS surprise of +21.31%, with the consensus EPS estimate being $1.22. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Merchants Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency Ratio: 40.2% versus 42.1% estimated by three analysts on average. Net interest margin: 2.8% versus the three-analyst average estimate of 2.9%. Average Earning Assets: $19.46 billion compared to the $19.37 billion average estimate based on three analysts. Tier I capital/risk-weighted assets Ratio: 12.1% versus the two-analyst average estimate of 12.6%. Total capital/risk-weighted assets Ratio: 12.5% compared to the 13.1% average estimate based on two analysts. Loan servicing fees, net: $11.99 million versus $6.92 million estimated by three analysts on average. Syndication and asset management fees: $6.93 million versus $4.89 million estimated by three analysts on average. Other income: $11.74 million versus $5.67 million estimated by three analysts on average. Mortgage warehouse fees: $1.86 million compared to the $1.99 million average estimate based on three analysts. Total Noninterest Income: $45.68 million versus the three-analyst average estimate of $41.64 million. Gain on Sale of Loans: $13.16 million versus the three-analyst average estimate of $22.17 million. Net Interest Income: $136.54 million versus the three-analyst average estimate of $140.36 million. View all Key Company Metrics for Merchants Bancorp here>>> Shares of Merchants Bancorp have returned -4% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merchants Bancorp (MBIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research