Merchants Bancorp (NASDAQ:MBIN) Earns "Overweight" Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $48.00 price target on the stock, down from their previous price target of $56.00.

A number of other equities research analysts have also commented on MBIN. Raymond James dropped their target price on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday. Morgan Stanley started coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 price objective on the stock.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN traded down $0.07 on Wednesday, hitting $35.96. 219,685 shares of the company were exchanged, compared to its average volume of 179,612. The firm has a market capitalization of $1.56 billion, a P/E ratio of 5.66 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. Merchants Bancorp has a 1-year low of $29.60 and a 1-year high of $53.27. The stock's 50 day moving average price is $44.37 and its 200 day moving average price is $43.00.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.25). The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same period in the prior year, the firm posted $1.68 EPS. Sell-side analysts predict that Merchants Bancorp will post 6.08 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 13th. Merchants Bancorp's dividend payout ratio is currently 5.65%.

Insider Buying and Selling at Merchants Bancorp

In other news, CEO Michael R. Dury purchased 5,200 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the acquisition, the chief executive officer now owns 93,793 shares of the company's stock, valued at approximately $3,630,727.03. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Merchants Bancorp news, CEO Michael R. Dury purchased 5,200 shares of Merchants Bancorp stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the acquisition, the chief executive officer now owns 93,793 shares of the company's stock, valued at $3,630,727.03. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Petrie sold 22,050 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Merchants Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake 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 acquiring an additional 869 shares during the last quarter. nVerses Capital LLC lifted its holdings in Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company's stock valued at $61,000 after purchasing an additional 1,300 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Merchants Bancorp during the 3rd quarter worth $162,000. Point72 Asset Management L.P. grew its holdings in shares of Merchants Bancorp by 54.3% during the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock worth $163,000 after buying an additional 1,412 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company's stock worth $193,000 after buying an additional 2,101 shares in 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.