Merchants Bancorp (NASDAQ:MBIN) Sets New 12-Month High at $50.28

Merchants Bancorp (NASDAQ:MBIN)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $50.28 and last traded at $50.00, with a volume of 11759 shares traded. The stock had previously closed at $49.20.

Wall Street Analyst Weigh In

MBIN has been the topic of a number of research reports. Raymond James reiterated a “strong-buy” rating and issued a $55.00 price target on shares of Merchants Bancorp in a report on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th.

Merchants Bancorp Stock Performance

The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 1.06. The business’s fifty day moving average price is $41.59 and its two-hundred day moving average price is $41.73. The stock has a market capitalization of $2.17 billion, a P/E ratio of 7.72 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, April 29th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.43. Merchants Bancorp had a net margin of 23.55% and a return on equity of 26.65%. The firm had revenue of $355.05 million during the quarter, compared to analyst estimates of $144.15 million. As a group, sell-side analysts forecast that Merchants Bancorp will post 6.38 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. Merchants Bancorp’s payout ratio is 5.65%.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Merchants Bancorp by 42,253.6% during the 4th quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock worth $9,252,000 after acquiring an additional 216,761 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after purchasing an additional 126,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Merchants Bancorp by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock valued at $33,869,000 after purchasing an additional 102,051 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after purchasing an additional 87,012 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in Merchants Bancorp during the 4th quarter worth $3,414,000. 24.57% of the stock is owned by institutional investors.

About Merchants Bancorp

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 multi-family and healthcare facilities.