Raymond James Reiterates "Outperform" Rating for Merchants Bancorp (NASDAQ:MBIN)

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s stock had its "outperform" rating restated by Raymond James in a report issued on Thursday,Benzinga reports. They presently have a $53.00 target price on the stock, up from their previous target price of $50.00. Raymond James' price objective points to a potential upside of 26.40% from the company's current price.

Separately, Piper Sandler boosted their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research report on Thursday.

Merchants Bancorp Price Performance

Shares of MBIN stock traded down $0.62 during trading hours on Thursday, hitting $41.93. The company had a trading volume of 164,557 shares, compared to its average volume of 190,603. Merchants Bancorp has a 12 month low of $34.16 and a 12 month high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm's fifty day moving average is $38.28 and its 200 day moving average is $41.70. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.65 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, sell-side analysts predict that Merchants Bancorp will post 5.17 EPS for the current fiscal year.

Insider Activity at Merchants Bancorp

In other news, Director Patrick D. O'brien purchased 40,000 shares of the business's stock in a transaction dated Monday, November 18th. The shares were acquired at an average price 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 of the company's stock, valued at $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the sale, the insider now owns 27,606 shares of the company's stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in shares of Merchants Bancorp by 3.7% during the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company's stock worth $573,000 after buying an additional 456 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Merchants Bancorp by 9.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company's stock valued at $240,000 after acquiring an additional 460 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at $25,000. Sei Investments Co. boosted its position in shares of Merchants Bancorp by 10.3% in the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company's stock worth $347,000 after purchasing an additional 800 shares during the last quarter. Finally, CWM LLC grew its stake in shares of 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 purchasing an additional 869 shares during the period. Institutional investors 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.