Merchants Bancorp (NASDAQ:MBIN) Sets New 1-Year Low - What's Next?

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $35.50 and last traded at $36.12, with a volume of 12266 shares trading hands. The stock had previously closed at $36.00.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James decreased their price objective on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Morgan Stanley began coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an "equal weight" rating and a $54.00 price target for the company. Finally, Piper Sandler increased 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.

Merchants Bancorp Stock Up 2.1 %

The firm has a 50-day moving average price of $38.66 and a two-hundred day moving average price of $42.07. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 6.09 and a beta of 1.13. 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 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 return on equity of 22.36% and a net margin of 21.33%. The company had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same period in the previous year, the business posted $1.68 EPS. On average, sell-side analysts forecast that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.98%. Merchants Bancorp's dividend payout ratio is presently 5.96%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Patrick D. O'brien bought 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 39.70% of the company's stock.

Institutional Trading of Merchants Bancorp

A number of large investors have recently bought and sold shares of MBIN. Franklin Resources Inc. raised its holdings in shares of Merchants Bancorp by 85.3% in the third quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock valued at $1,504,000 after buying an additional 15,342 shares during the last quarter. Barclays PLC boosted its holdings in shares of Merchants Bancorp by 351.8% in the third quarter. Barclays PLC now owns 28,312 shares of the company's stock valued at $1,273,000 after acquiring an additional 22,046 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in Merchants Bancorp during the 3rd quarter worth approximately $202,000. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Finally, State Street Corp boosted its stake in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company's stock valued at $20,205,000 after buying an additional 20,214 shares in the last quarter. 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.