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

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

Wall Street Analysts Forecast Growth

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

Merchants Bancorp Trading Down 1.0 %

The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.88 and a beta of 1.14. 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 company has a fifty day moving average of $38.50 and a two-hundred day moving average of $42.00.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data 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). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter in the previous year, the firm posted $1.68 earnings per share. On average, research analysts expect that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Announces Dividend

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

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O’brien purchased 40,000 shares of Merchants Bancorp stock in a transaction on 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 approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 39.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Merchants Bancorp

Several hedge funds have recently made changes to their positions in MBIN. Principal Financial Group Inc. lifted its holdings in shares of Merchants Bancorp by 11.7% during the 2nd quarter. Principal Financial Group Inc. now owns 15,108 shares of the company’s stock worth $612,000 after acquiring an additional 1,580 shares during the period. Rhumbline Advisers lifted its stake in Merchants Bancorp by 11.8% during the second quarter. Rhumbline Advisers now owns 28,124 shares of the company’s stock worth $1,140,000 after purchasing an additional 2,971 shares during the period. Victory Capital Management Inc. grew its stake in shares of Merchants Bancorp by 119.0% in the 2nd quarter. Victory Capital Management Inc. now owns 12,278 shares of the company’s stock valued at $498,000 after purchasing an additional 6,671 shares during the period. Quest Partners LLC raised its holdings in shares of Merchants Bancorp by 11.7% in the 2nd quarter. Quest Partners LLC now owns 9,913 shares of the company’s stock worth $402,000 after buying an additional 1,039 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Merchants Bancorp by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 370,257 shares of the company’s stock worth $15,010,000 after buying an additional 69,133 shares during the period. Institutional investors 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.