MBIN trades 29.4% below Wall Street's consensus target of $67.00.
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 8.3x. 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 November 8, 2026, Merchants Bancorp (MBIN) has a Wall Street consensus price target of $67.00, based on estimates from 7 covering analysts. With the stock currently trading at $51.76, this represents a potential upside of +29.4%. The company has a market capitalization of $2.38B.
Analyst price targets range from a low of $66.00 to a high of $68.00, representing a 3% spread in expectations. The median target of $67.00 aligns closely with the consensus average. 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 7.5x and forward P/E of 8.3x. Analysts expect EPS to grow +6.3% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $75.67, with bear and bull scenarios of $47.67 and $99.70 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. | $2.2B | $29.43 | $31.50 | +7.0% | Hold | 8.9x | 11 |
 CUBICustomers Bancorp, Inc. | $2.9B | $84.73 | $100.00 | +18.0% | Buy | 9.9x | 17 |
 FFBCFirst Financial Bancorp. | $3.4B | $32.57 | $37.00 | +13.6% | Hold | 10.7x | 19 |
 IBCPIndependent Bank Corporation | $748M | $36.31 | $43.00 | +18.4% | Hold | 10.6x | 8 |
 NBTBNBT Bancorp Inc. | $2.7B | $52.83 | $57.67 | +9.2% | Hold | 12.6x | 10 |
 BANRBanner Corporation | $2.4B | $70.09 | $75.25 | +7.4% | Hold | 11.9x | 13 |
 BOKFBOK Financial Corporation | $7.9B | $129.48 | $145.00 | +12.0% | Hold | 12.1x | 21 |
 HOMBHome Bancshares, Inc. | $6.0B | $29.86 | $33.67 | +12.8% | Hold | 11.8x | 19 |
 SFNCSimmons First National Corporation | $3.4B | $23.34 | $25.88 | +10.9% | Buy | 11.2x | 9 |
 TCBKTriCo Bancshares | $1.7B | $52.17 | $61.75 | +18.4% | Hold | 11.8x | 12 |
Quick answers to the most common questions about buying MBIN stock.
The consensus Wall Street price target for MBIN is $67, representing 29.4% upside from the current price of $51.76. With 7 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
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 $67 implies 29.4% upside from current levels.
With a forward P/E of 8.3394x, MBIN trades at a relatively low valuation. The consensus target of $67 implies 29.4% appreciation, suggesting meaningful undervaluation.
The most bullish Wall Street analyst has a price target of $68 for MBIN, while the most conservative target is $66. The consensus of $67 represents the median expectation. Our quantitative valuation model projects a bull case target of $100 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 $67, with estimates ranging from $66 (bear case) to $68 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $76, with bear/bull scenarios of $48/$100.
Our quantitative valuation model calculates MBIN's fair value at $76 (base case), with a bear case of $48 and bull case of $100. 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 8.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 7.5x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are very optimistic on MBIN, with a "Buy" consensus rating and $67 price target (29.4% 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 $66 to $68, a 3% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $67 consensus represents the middle ground. Our model's $48-$100 range provides an independent fundamental perspective.
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