Is Merchants Bancorp overvalued?

Merchants Bancorp (MBIN) looks overvalued — trading about 42% above its fair value.

Overvalued

Price

$51.69

Fair value

$30.00

Current P/E

12.6

Normal P/E

7.3

Market cap

$2.37B

Dividend yield

0.8%

Return on equity

11.6%

Sector

Financial Services

Fair value compares MBIN's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 24 Sep 2026.

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