Merchants Bancorp (NASDAQ:MBIN) Sets New 12-Month Low - Here's Why

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) 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 trading hands. The stock had previously closed at $35.86.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MBIN. Raymond James dropped their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Piper Sandler lifted their price objective on Merchants Bancorp from $48.00 to $52.50 and gave the company an "overweight" rating in a research note on Tuesday, November 26th.

Merchants Bancorp Stock Down 1.0 %

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 has a market cap of $1.62 billion, a price-to-earnings ratio of 5.88 and a beta of 1.14. The business's 50 day moving average price is $38.47 and its 200 day moving average price is $41.96.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released 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 net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to analysts' expectations of $156.13 million. During the same period in the previous year, the firm posted $1.68 EPS. On average, equities analysts forecast that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Announces Dividend

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

Insider Activity

In related news, Director Patrick D. O'brien purchased 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, 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 available through the SEC website. Insiders own 39.70% of the company's stock.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds have recently made changes to their positions in MBIN. CWM LLC increased its position 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Merchants Bancorp in the third quarter valued at about $162,000. Point72 Asset Management L.P. lifted its stake in shares of Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock worth $163,000 after buying an additional 1,412 shares in the last quarter. FMR LLC grew its stake in Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company's stock valued at $178,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in Merchants Bancorp in the 3rd quarter valued at about $202,000. Institutional investors and hedge funds 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.