Merchants Bancorp (NASDAQ:MBIN) Reaches New 1-Year Low - Here's What Happened

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $31.34 and last traded at $31.58, with a volume of 41690 shares traded. The stock had previously closed at $33.24.

Wall Street Analyst Weigh In

MBIN has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Morgan Stanley lowered their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Raymond James decreased their price objective on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd.

Merchants Bancorp Stock Performance

The company has a market cap of $1.46 billion, a P/E ratio of 5.06 and a beta of 1.15. The business has a fifty day moving average of $38.73 and a 200 day moving average of $39.51. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping the consensus estimate 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, equities analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio (DPR) is presently 6.34%.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares of the company's stock, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds have recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Merchants Bancorp in the fourth quarter worth about $25,000. Cubist Systematic Strategies LLC purchased a new stake in Merchants Bancorp during the 4th quarter valued at $79,000. Bank of Jackson Hole Trust bought a new stake in shares of Merchants Bancorp in the 4th quarter worth $82,000. Matrix Trust Co raised its stake in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock worth $96,000 after purchasing an additional 2,324 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Merchants Bancorp by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock valued at $130,000 after purchasing an additional 1,933 shares in the last quarter. 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.