Merchants Bancorp (NASDAQ:MBIN) Hits New 52-Week Low Following Analyst Downgrade

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s share price reached a new 52-week low on Thursday after Raymond James lowered their price target on the stock from $53.00 to $45.00. Raymond James currently has an outperform rating on the stock. Merchants Bancorp traded as low as $33.60 and last traded at $34.21, with a volume of 52640 shares changing hands. The stock had previously closed at $37.17.

MBIN has been the subject of a number of other reports. Piper Sandler upped their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Morgan Stanley dropped their price target on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th.

Insider Buying and Selling at Merchants Bancorp

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 shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 39.70% of the company's stock.

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Institutional Trading of Merchants Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in MBIN. FMR LLC increased its holdings in shares of Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company's stock worth $178,000 after purchasing an additional 2,699 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Merchants Bancorp by 48.5% during the third quarter. BNP Paribas Financial Markets now owns 32,156 shares of the company's stock worth $1,446,000 after purchasing an additional 10,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Merchants Bancorp by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company's stock worth $914,000 after purchasing an additional 1,099 shares during the last quarter. State Street Corp raised its stake in 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 purchasing an additional 20,214 shares in the last quarter. Finally, Barclays PLC grew its stake in Merchants Bancorp by 351.8% in 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 in the last quarter. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Stock Performance

The company's 50-day moving average price is $39.87 and its two-hundred day moving average price is $40.05. 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 stock has a market cap of $1.53 billion, a PE ratio of 5.29 and a beta of 1.15.

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

Merchants Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.20%. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 14th. Merchants Bancorp's dividend payout ratio is presently 6.34%.

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.