Piper Sandler Raises Merchants Bancorp (NASDAQ:MBIN) Price Target to $52.50

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) had its price objective boosted by stock analysts at Piper Sandler from $48.00 to $52.50 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 25.93% from the company's previous close.

Several other brokerages also recently commented on MBIN. Raymond James lowered their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Morgan Stanley began coverage on Merchants Bancorp in a report on Monday, September 9th. They set an "equal weight" rating and a $54.00 target price on the stock.

Merchants Bancorp Trading Up 0.7 %

Shares of NASDAQ:MBIN traded up $0.27 during midday trading on Tuesday, hitting $41.69. The company had a trading volume of 51,646 shares, compared to its average volume of 179,864. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12 month low of $32.52 and a 12 month high of $53.27. The firm has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $42.71. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 6.86 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.25). The company had revenue of $355.67 million for the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same quarter last year, the business posted $1.68 EPS. On average, analysts predict that Merchants Bancorp will post 5.77 EPS for the current year.

Insider Buying and Selling

In other Merchants Bancorp news, Director Patrick D. O'brien bought 40,000 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.70% of the company's stock.

Institutional Trading of Merchants Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of MBIN. CWM LLC grew its stake in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company's stock valued at $58,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC increased its holdings in Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company's stock worth $61,000 after buying an additional 1,300 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Merchants Bancorp in the third quarter valued at $162,000. Point72 Asset Management L.P. grew its position in shares of Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock valued at $163,000 after acquiring an additional 1,412 shares during the period. Finally, FMR LLC increased its stake in shares of Merchants Bancorp by 214.5% during the 3rd 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 last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

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.