Merchants Bancorp (NASDAQ:MBIN) Shares Gap Up - Here's Why

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $37.04, but opened at $37.79. Merchants Bancorp shares last traded at $37.30, with a volume of 18,477 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MBIN. Raymond James dropped their target price on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday. Piper Sandler upped their target price on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th.

Merchants Bancorp Trading Down 0.7 %

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 5.30 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The business's 50 day moving average price is $39.98 and its two-hundred day moving average price is $40.21.

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, beating the consensus estimate 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 analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

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Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis 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 of this dividend was Friday, March 14th. Merchants Bancorp's payout ratio is presently 6.34%.

Insider Activity

In related news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 39.70% of the company's stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Merchants Bancorp by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 9,800 shares of the company's stock valued at $357,000 after buying an additional 381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Merchants Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company's stock valued at $375,000 after purchasing an additional 392 shares in the last quarter. LPL Financial LLC grew its stake in Merchants Bancorp by 1.1% during the fourth quarter. LPL Financial LLC now owns 47,903 shares of the company's stock worth $1,747,000 after purchasing an additional 527 shares during the period. Inceptionr LLC increased its holdings in Merchants Bancorp by 13.7% in the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company's stock worth $209,000 after purchasing an additional 687 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Merchants Bancorp in the fourth quarter valued at approximately $25,000. 24.57% of the stock is owned by institutional investors.

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.