Merchants Bancorp (NASDAQ:MBIN) Stock Price Expected to Rise, Piper Sandler Analyst Says

Merchants Bancorp (NASDAQ:MBIN) had its price objective increased by Piper Sandler from $48.00 to $52.50 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also issued reports on MBIN. Raymond James reduced their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Morgan Stanley began coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective on the stock.

Merchants Bancorp Price Performance

Shares of MBIN opened at $41.33 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company’s fifty day moving average price is $42.12 and its 200-day moving average price is $42.65. Merchants Bancorp has a 1-year low of $32.52 and a 1-year high of $53.27. The firm has a market capitalization of $1.89 billion, a PE ratio of 6.84 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million for the quarter, compared to analysts’ expectations of $156.13 million. During the same quarter in the previous year, the firm posted $1.68 EPS. On average, equities research analysts predict that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Patrick D. O’brien bought 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 39.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merchants Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Merchants Bancorp by 0.8% during the 2nd quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock worth $2,244,000 after acquiring an additional 414 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Merchants Bancorp by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock worth $573,000 after purchasing an additional 456 shares during the period. Harbor Capital Advisors Inc. boosted its position in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock worth $240,000 after purchasing an additional 460 shares in the last quarter. Sei Investments Co. grew its holdings in Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after purchasing an additional 800 shares during the period. Finally, CWM LLC grew its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.