Merchants Bancorp (NASDAQ:MBIN) Price Target Raised to $52.50 at Piper Sandler

Merchants Bancorp (NASDAQ:MBIN) had its price target 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 equities research analysts have also recently issued reports on MBIN. Raymond James decreased their target price on 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 initiated coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective for the company.

Merchants Bancorp Stock Down 0.1 %

MBIN stock opened at $41.28 on Tuesday. The firm has a market cap of $1.89 billion, a PE ratio of 6.83 and a beta of 1.12. Merchants Bancorp has a 1 year low of $33.05 and a 1 year high of $53.27. The company has a fifty day simple moving average of $42.03 and a 200 day simple moving average of $42.60. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The company had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the prior year, the firm earned $1.68 EPS. Sell-side analysts anticipate that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.96%.

Insiders Place Their Bets

In related news, Director Patrick D. O’brien acquired 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.70% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after buying an additional 869 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after acquiring an additional 1,300 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Merchants Bancorp during the 3rd quarter valued at about $162,000. Point72 Asset Management L.P. increased its stake in Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares during the period. Finally, FMR LLC raised its position in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after purchasing an additional 2,699 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

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.