MBIN trades 16.8% below Wall Street's consensus target of $60.00.
Last 12 months price action with 12-month analyst target path
The base valuation assumes MBIN achieves its forward estimates and maintains a stable P/E multiple of 9.2x. This scenario reflects the blended consensus of 7 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of September 24, 2026, Merchants Bancorp (MBIN) has a Wall Street consensus price target of $60.00, based on estimates from 7 covering analysts. With the stock currently trading at $51.37, this represents a potential upside of +16.8%. The company has a market capitalization of $2.36B.
Analyst price targets range from a low of $51.00 to a high of $65.00, representing a 23% spread in expectations. The median target of $64.00 differs from the mean, suggesting potential outlier estimates. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Buy, with 4 analysts rating the stock as a Buy or Strong Buy,3 rating it Hold, and 0 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, MBIN trades at a trailing P/E of 13.6x and forward P/E of 9.2x. Analysts expect EPS to grow -4.5% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $61.04, with bear and bull scenarios of $38.45 and $80.42 respectively. Model confidence stands at 52/100, reflecting moderate uncertainty in projections.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WAFDWaFd, Inc. | $2.3B | $30.70 | $38.00 | +23.8% | Hold | 9.3x | 11 |
 CUBICustomers Bancorp, Inc. | $2.6B | $76.72 | $93.75 | +22.2% | Buy | 9.1x | 17 |
 FFBCFirst Financial Bancorp. | $3.3B | $31.22 | $34.00 | +8.9% | Hold | 10.3x | 19 |
 IBCPIndependent Bank Corporation | $727M | $35.30 | $39.50 | +11.9% | Hold | 9.9x | 8 |
 NBTBNBT Bancorp Inc. | $2.6B | $50.48 | $56.67 | +12.3% | Hold | 12.1x | 10 |
 BANRBanner Corporation | $2.3B | $68.07 | $75.00 | +10.2% | Hold | 11.4x | 13 |
 BOKFBOK Financial Corporation | $7.9B | $130.58 | $149.00 | +14.1% | Hold | 12.3x | 21 |
 HOMBHome Bancshares, Inc. | $5.8B | $28.84 | $33.25 | +15.3% | Hold | 11.5x | 19 |
 SFNCSimmons First National Corporation | $3.3B | $22.89 | $26.17 | +14.3% | Buy | 11.2x | 9 |
 TCBKTriCo Bancshares | $1.7B | $51.44 | $63.00 | +22.5% | Hold | 12.0x | 12 |
Quick answers to the most common questions about buying MBIN stock.
Merchants Bancorp (MBIN) has a consensus 12-month price target of $60, implying 16.8% upside from $51.37. The 7 analysts covering MBIN see moderate appreciation potential.
MBIN has a consensus rating of "Buy" based on 7 Wall Street analysts. The rating breakdown is predominantly bullish, with 4 Buy/Strong Buy ratings. The consensus 12-month price target of $60 implies 16.8% upside from current levels.
With a forward P/E of 9.2115x, MBIN trades at a relatively low valuation. The consensus target of $60 implies 16.8% appreciation, suggesting meaningful undervaluation.
The most bullish Wall Street analyst has a price target of $65 for MBIN, while the most conservative target is $51. The consensus of $60 represents the median expectation. Our quantitative valuation model projects a bull case target of $80 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
MBIN is moderately covered, with 7 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 4 have Buy ratings, 3 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month MBIN stock forecast based on 7 Wall Street analysts shows a consensus price target of $60, with estimates ranging from $51 (bear case) to $65 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $61, with bear/bull scenarios of $38/$80.
Our quantitative valuation model calculates MBIN's fair value at $61 (base case), with a bear case of $38 and bull case of $80. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 52/100.
MBIN trades at a forward P/E ratio of 9.2x based on next-twelve-months earnings estimates compared to a trailing P/E of 13.6x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are optimistic on MBIN, with a "Buy" consensus rating and $60 price target (16.8% upside). 4 of 7 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
MBIN analyst price targets range from $51 to $65, a 23% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $60 consensus represents the middle ground. Our model's $38-$80 range provides an independent fundamental perspective.
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