Piper Sandler Forecasts Strong Price Appreciation for Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) had its price objective upped by Piper Sandler from $52.50 to $56.50 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Raymond James dropped their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Merchants Bancorp Stock Up 0.5 %

NASDAQ:MBIN opened at $42.55 on Thursday. 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. The stock’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $41.72. The firm has a market capitalization of $1.95 billion, a P/E ratio of 6.74 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last issued 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 net margin of 22.08% and a return on equity of 22.86%. Equities research analysts expect that Merchants Bancorp will post 5.17 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.71%.

Insider Buying and Selling

In other Merchants Bancorp news, Director Patrick D. O’brien bought 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was bought 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 $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Merchants Bancorp by 3.7% during the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock worth $573,000 after purchasing an additional 456 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Merchants Bancorp by 9.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock worth $240,000 after buying an additional 460 shares during the last quarter. Sei Investments Co. boosted its stake in Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after buying an additional 800 shares in the last quarter. CWM LLC grew its position 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 acquiring an additional 869 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Merchants Bancorp by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock worth $914,000 after acquiring an additional 1,099 shares in the last quarter. 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.