Merchants Bancorp (MBIN) vs WaFd (WAFD)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Merchants Bancorp (MBIN) has outperformed WaFd (WAFD) over the past year, gaining 54.8% versus a gain of 0.2%. Over five years, MBIN leads with a +78.9% price change compared with -18.2% for WAFD. Merchants Bancorp is the larger company by market cap ($2.29 billion vs $2.20 billion), about 1.0 times the size.
On valuation, Merchants Bancorp trades at a lower forward P/E (8.3x vs 8.5x for WaFd). WaFd offers the higher dividend yield (3.60% vs 0.84%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | MBIN | WAFD |
|---|---|---|
| Share price | $49.80 | $29.74 |
| Market cap | $2.29B | $2.20B |
| 1-day change | +0.97% | +0.92% |
| YTD return | +46.21% | -7.99% |
| 1-year return | +54.75% | +0.24% |
| 5-year return | +78.92% | -18.18% |
| P/E ratio (TTM) | 10.00 | 9.38 |
| Forward P/E | 8.29 | 8.47 |
| EPS (TTM) | $4.98 | $3.17 |
| Dividend yield | 0.84% | 3.60% |
| Annual dividend | $0.42 | $1.07 |
| 52-week high | $56.87 | $39.49 |
| 52-week low | $30.37 | $26.31 |
| Distance from 52-week high | -12.43% | -24.69% |
| Analyst consensus | hold | hold |
| Avg. price target upside | +28.51% | +16.01% |
| Average volume | 185.79K | 889.87K |
| Shares outstanding | 45.94M | 74.01M |
| Employees | 735 | 2,055 |
| Sector | Financial Services | Finance |
| Industry | Banks - Regional | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- MBIN has outperformed WAFD by 54.5 percentage points over the past year.
- WaFd offers a meaningfully higher dividend yield (3.60% vs 0.84%).
- The two companies sit in different sectors: Merchants Bancorp in Financial Services and WaFd in Finance.
About Merchants Bancorp
MBIN stock →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.
Financial Services · Banks - Regional · 735 employees
About WaFd
WAFD stock →WaFd, Inc. operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States.
Finance · Major Banks · 2,055 employees
MBIN vs WAFD FAQ
Which is bigger, Merchants Bancorp or WaFd?
Merchants Bancorp (MBIN) is larger, with a market capitalization of $2.29B compared with $2.20B for WaFd (WAFD).
Which stock has performed better over the past year, MBIN or WAFD?
MBIN returned +54.75% over the past 12 months, compared with +0.24% for WAFD (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, MBIN or WAFD?
WAFD has the lower trailing P/E at 9.4, versus 10.0 for MBIN. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Merchants Bancorp or WaFd?
WaFd has the higher yield at 3.60%, compared with 0.84% for Merchants Bancorp.
Are Merchants Bancorp and WaFd in the same industry?
No. Merchants Bancorp is in the Financial Services sector, while WaFd is in Finance.