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

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

A number of other equities analysts also recently issued reports on the company. Raymond James dropped their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock 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 target price on the stock.

Merchants Bancorp Price Performance

Merchants Bancorp stock 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 stock has a market cap of $1.89 billion, a price-to-earnings ratio of 6.84 and a beta of 1.12. The firm has a 50-day moving average of $42.12 and a two-hundred day moving average of $42.65. Merchants Bancorp has a 1 year low of $32.52 and a 1 year high of $53.27.

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

Merchants Bancorp Dividend Announcement

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

Insider Activity

In related news, Director Patrick D. O’brien acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

Hedge funds have recently modified their holdings of the company. CWM LLC grew its position in shares of Merchants Bancorp by 209.4% in the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after buying an additional 869 shares during the last quarter. nVerses Capital LLC grew its holdings in Merchants Bancorp by 650.0% in the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,300 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Merchants Bancorp during the third quarter worth $162,000. Point72 Asset Management L.P. lifted its holdings in shares of Merchants Bancorp by 54.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after purchasing an additional 1,412 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Merchants Bancorp by 214.5% in the 3rd 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 hedge funds and other institutional investors.

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.