Merchants Bancorp

Stage 3 · Topping · week 1

As of Oct 22, 2026, Merchants Bancorp is in Stage 3, the topping phase, now in its first week (since Oct 16, 2026). It closed at $49.06, 11.8% below its 52-week high and above its 200-day average, which is rising.

Merchants Bancorp operates as the diversified bank holding company in the United States. More about the company

$49.06

+2.71% today

$2.3B · Mid cap

Market Neutral — Building

Pro read

Pro

Our read

Topping: the uptrend is tiring

Setup score

—

Momentum

Steady

Edge

—

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Stage Cycle Timeline2023-08-16 → 2026-10-22

S2 21w

S2 42w

2023-08-162026-10-22

S1S2S3S4Setup score (0–10, dashed line at 5)

S2 8w → S3 5w → S2 21w → S3 4w → S2 4w → S3 5w → S2 12w → S3 7w → S4 10w → S1 9w → S4 13w → S1 6w → S4 2w → S1 1w → S4 7w → S1 2w → S4 3w → S1 2w → S2 42w → S3 1w current

Total tracked: 165 weeks across 20 stage runs.

MBIN among Banks - Regional42nd of 319 by relative strength

All 319 →

Stocks in Banks - Regional ranked by relative strength, with stage and one-month change
#	Stock	Stage	RS	1M
1	OPHCOptimumBank Holdings, Inc.	Stage 2 · wk 38	96	−1.0%
2	MSBIMidland States Bancorp, Inc.	Stage 2 · wk 43	95	+1.8%
3	CMTVCommunity Bancorp.	Stage 2 · wk 72	94	+11.5%
4	VBNKVersaBank	Stage 2 · wk 25	94	−0.9%
5	AMALAmalgamated Financial Corp.	Stage 3 · wk 2	94	+8.1%
6	BOTJBank of the James Financial Group, Inc.	Stage 2 · wk 58	93	+9.0%
7	ATLOAmes National Corporation	Stage 2 · wk 68	92	+9.5%
8	RBKBRhinebeck Bancorp, Inc.	Stage 2 · wk 38	92	+0.9%
…42	MBINMerchants Bancorp	Stage 3 · wk 1	88	−4.5%

vs 52W High

-11.8%

$30.13 lo$55.60 hi

11.8% below 52W high, weakening from peak

The stock is rolling over from its 52-week high. In Stage 3 distribution, new long positions carry high risk.

Stage Maturity

Week 1

1w13w26w

Week 1, early distribution

How long this stock has been in Stage 3 distribution. Longer tops often precede deeper Stage 4 declines.

vs 200 DMA

4.4%

200 DMA: $47.00 · rising

Stock is losing its 200 DMA. Once lost, it confirms Stage 4 risk. This is a major red flag for existing holders.

Rel Volume

1.15x

vs 50-day avg

Volume spikes on down days during Stage 3 signal distribution, with institutions exiting. Stage analysis reads that as a warning against new long positions.

Trend Health

↓

Short-term trend rolling over

Two reads of momentum. The arrow shows the direction of the short-term trend: rising (↑ or ↗), flat (→) or rolling over (↓). The ⇈ mark appears when our trend model reads the move as gaining speed on top of the longer trend. Strongest when both agree.

-4.5%

+3.1%

-0.9%

YTD

+48.9%

+54.2%

Scan Membership

Breakout Watch

Latest: 2024-07-10

8 appearances in last 60 days. First seen: 2020-01-07.

A stock that keeps qualifying week after week does so because its Stage 2 structure keeps holding. Staying power in the scan says more about the trend than any single appearance.

Recent Stage Timeline

2026-10-22S3

Wk 1 · Vol 1.15x

2026-10-21S3

Wk 1 · Vol 0.64x

2026-10-20S3

Wk 1 · Vol 0.92x

2026-10-19S3

Wk 1 · Vol 0.69x

2026-10-16S32→3

Wk 1 · Vol 0.57x

2026-10-15S2

Wk 41 · Vol 0.68x

2026-10-14S2

Wk 41 · Vol 1.17x

2026-10-13S2

Wk 41 · Vol 0.75x

2026-10-12S2

Wk 40 · Vol 0.72x

2026-10-09S2

Wk 40 · Vol 0.66x

2026-10-08S2

Wk 40 · Vol 0.82x

2026-10-07S2

Wk 40 · Vol 1.07x

Moving averages & range

50 DMA

$51.55

200 DMA

$47.00

52W High

$55.60

52W Low

$30.13

5D Low

$47.61

Resistance levels (recent highs)

20d High

$52.10

60d High

$55.60

120d High

$55.60

250d High

$55.60

Next resistance

+6.2%

to 20d High

P/E (TTM)

9.9

Forward 8.2

Earnings Growth (YoY)

+146.7%

Revenue +37.1%

ROE

+11.7%

Profit margin +42.5%

Dividend Yield

0.92%

P/B 1.2

Merchants Bancorp: quick answers

What stage is Merchants Bancorp in?

As of Oct 22, 2026, Merchants Bancorp (MBIN) is in Stage 3, the topping phase. It entered Stage 3 on Oct 16, 2026 and is in its first week there. What the four stages mean

Is Merchants Bancorp in an uptrend?

Its uptrend has stalled. Merchants Bancorp is in Stage 3, the topping phase that follows an advance. It trades 4.4% above its 200-day average, which is rising.

How far is Merchants Bancorp from its 52-week high?

Merchants Bancorp closed at $49.06 on Oct 22, 2026, 11.8% below its 52-week high of $55.60. Its 52-week low is $30.13.

How has Merchants Bancorp performed over the past year?

As of Oct 22, 2026, Merchants Bancorp is up 54.2% over the past year and up 48.9% so far in 2026.

Which sector and industry is Merchants Bancorp in?

Merchants Bancorp is in the Banks - Regional industry, part of the Financials sector.

About this companyFinancials· Banks - Regional

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates, and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for housing development and healthcare facilities financing. This segment also offers customized loan products for need-based skilled nursing facilities, such as independent living, assisted living, and memory care; and tax credit equity syndicator service. The Mortgage Warehousing segment funds agency eligible residential loans, as well as commercial loans to non-depository financial institutions. The Banking segment offers a range of financial products and services to consumers and businesses, which includes retail banking, commercial lending, agricultural lending, retail and correspondent residential mortgage banking, and small business administration lending. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.

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All analytics based on EOD data. Data as of 2026-10-22. Past data patterns are not indicative of future results. This page is a data analytics tool only.