“Despite some challenges this quarter, we remain confident in our strategic direction and outlook for future performance. The lower gain on sale of loans and recent deterioration in asset quality are temporary setbacks. Our ongoing efforts to optimize loan workouts and to invest in growth opportunities position us for a stronger and more resilient future. Our loan pipeline remains strong, and we are well-positioned to execute when the uncertain interest rate environment becomes clearer for our borrowers,” said Michael Petrie, Chairman and CEO of Merchants.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MBIN:
- MBIN Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Merchants Bancorp price target lowered to $40 from $45 at Morgan Stanley
- Merchants Bancorp price target lowered to $45 from $53 at Raymond James
- Merchants Bancorp Appoints New Chief Accounting Officer
- Merchants Bancorp price target lowered to $45 from $47 at Morgan Stanley
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue