Merchants Bancorp (NASDAQ:MBIN) Reaches New 52-Week Low – Here’s What Happened

Merchants Bancorp (NASDAQ:MBIN)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.24 and last traded at $35.50, with a volume of 163689 shares traded. The stock had previously closed at $35.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Raymond James cut their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Piper Sandler boosted their target price on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, November 26th.

Merchants Bancorp Trading Down 1.0 %

The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock has a market cap of $1.62 billion, a P/E ratio of 5.88 and a beta of 1.14. The business’s fifty day simple moving average is $38.50 and its 200 day simple moving average is $42.00.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 EPS 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 company had revenue of $355.67 million for the quarter, compared to the consensus estimate of $156.13 million. During the same period last year, the company earned $1.68 earnings per share. As a group, analysts expect that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.09 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.96%.

Insider Activity

In other Merchants Bancorp news, Director Patrick D. O’brien purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 39.70% of the stock is currently owned by insiders.

Institutional Trading of Merchants Bancorp

Institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Merchants Bancorp by 209.4% in the 3rd 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. Catalyst Capital Advisors LLC acquired a new position in Merchants Bancorp in the third quarter valued at about $162,000. Point72 Asset Management L.P. boosted its holdings in Merchants Bancorp by 54.3% during the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after buying an additional 1,412 shares during the last quarter. FMR LLC grew its position in shares of Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Merchants Bancorp during the 3rd quarter worth about $202,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

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.