Merchants Bancorp (NASDAQ:MBIN) Price Target Lowered to $55.00 at Raymond James

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) had its target price cut by research analysts at Raymond James from $58.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' target price indicates a potential upside of 52.65% from the stock's current price.

Separately, Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an "equal weight" rating and a $54.00 price target on the stock.

Merchants Bancorp Stock Performance

MBIN traded down $7.86 during mid-day trading on Tuesday, reaching $36.03. 654,141 shares of the company traded hands, compared to its average volume of 179,420. The company's fifty day moving average price is $44.53 and its 200-day moving average price is $43.02. The stock has a market capitalization of $1.56 billion, a P/E ratio of 6.14 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. Merchants Bancorp has a 52-week low of $28.99 and a 52-week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its earnings results 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). The firm had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. During the same period in the prior year, the company posted $1.68 EPS. On average, sell-side analysts expect that Merchants Bancorp will post 6.08 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael F. Petrie sold 22,050 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael F. Petrie sold 22,050 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares of the company's stock, valued at $90,251,310.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael R. Dury bought 6,000 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $44.82 per share, with a total value of $268,920.00. Following the transaction, the chief executive officer now directly owns 88,593 shares of the company's stock, valued at $3,970,738.26. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 39.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company's stock worth $240,000 after acquiring an additional 460 shares during the last quarter. US Bancorp DE lifted its stake in Merchants Bancorp by 8,677.6% in the 3rd quarter. US Bancorp DE now owns 5,881 shares of the company's stock worth $264,000 after purchasing an additional 5,814 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Merchants Bancorp by 16.0% during the 3rd quarter. Raymond James & Associates now owns 64,238 shares of the company's stock valued at $2,888,000 after purchasing an additional 8,873 shares during the last quarter. Twelve Points Wealth Management LLC grew its position in shares of Merchants Bancorp by 3.5% during the third quarter. Twelve Points Wealth Management LLC now owns 34,012 shares of the company's stock valued at $1,529,000 after purchasing an additional 1,166 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company's stock worth $58,000 after purchasing an additional 869 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

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.