Merchants Bancorp (NASDAQ:MBIN - Get Free Report) had its target price dropped by equities research analysts at Morgan Stanley from $47.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 17.55% from the company's current price.
A number of other research firms also recently weighed in on MBIN. Piper Sandler boosted their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Raymond James reissued an "outperform" rating and set a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.
Get Our Latest Stock Analysis on Merchants Bancorp
Merchants Bancorp Price Performance
Merchants Bancorp stock traded up $0.38 during midday trading on Thursday, reaching $38.28. 114,222 shares of the stock traded hands, compared to its average volume of 175,548. The stock has a market cap of $1.76 billion, a P/E ratio of 6.07 and a beta of 1.16. The stock's fifty day moving average is $39.87 and its 200-day moving average is $40.73. 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 has a 12 month low of $34.16 and a 12 month high of $53.27.
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 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%. As a group, equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.
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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.70% of the stock is owned by corporate insiders.
Institutional Trading of Merchants Bancorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new stake in shares of Merchants Bancorp during the fourth quarter valued at $25,000. Cubist Systematic Strategies LLC purchased a new stake in Merchants Bancorp in the 4th quarter valued at about $79,000. Bank of Jackson Hole Trust purchased a new stake in Merchants Bancorp in the 4th quarter valued at about $82,000. Matrix Trust Co grew its stake in Merchants Bancorp by 730.8% in the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company's stock worth $96,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position 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 worth $130,000 after acquiring an additional 1,933 shares during the period. Hedge funds and other institutional investors own 24.57% of the company's stock.
Merchants Bancorp Company Profile
(
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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.
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