Merchants Bancorp (NASDAQ:MBIN) Price Target Raised to $56.50

Merchants Bancorp (NASDAQ:MBIN - Free Report) had its target price lifted by Piper Sandler from $52.50 to $56.50 in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, Raymond James cut their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th.

Merchants Bancorp Trading Down 1.5 %

NASDAQ MBIN traded down $0.62 during mid-day trading on Thursday, reaching $41.93. 164,557 shares of the stock were exchanged, compared to its average volume of 190,603. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27. The business's fifty day simple moving average is $38.28 and its 200 day simple moving average is $41.70. The stock has a market capitalization of $1.92 billion, a PE ratio of 6.65 and a beta of 1.14. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

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

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Merchants Bancorp's dividend payout ratio is currently 5.71%.

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the transaction, the insider now owns 27,606 shares of the company's stock, valued at approximately $1,189,818.60. This trade represents a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick D. O'brien bought 40,000 shares of the business's stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 39.70% of the company's stock.

Institutional Investors Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in Merchants Bancorp by 143.1% during the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company's stock worth $22,039,000 after buying an additional 288,553 shares during the period. State Street Corp increased its stake in Merchants Bancorp by 4.7% during the 3rd quarter. State Street Corp now owns 448,525 shares of the company's stock worth $20,205,000 after buying an additional 20,214 shares during the period. Geode Capital Management LLC increased its stake in Merchants Bancorp by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock worth $25,476,000 after buying an additional 16,666 shares during the period. Barclays PLC increased its stake in Merchants Bancorp by 351.8% during the 3rd quarter. Barclays PLC now owns 28,312 shares of the company's stock worth $1,273,000 after buying an additional 22,046 shares during the period. Finally, Franklin Resources Inc. increased its stake in Merchants Bancorp by 85.3% during the 3rd quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock worth $1,504,000 after buying an additional 15,342 shares during the period. Hedge funds and other 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.