Merchants Bancorp (NASDAQ:MBIN) Given New $56.50 Price Target at Piper Sandler

Merchants Bancorp (NASDAQ:MBIN) had its price objective lifted by Piper Sandler from $52.50 to $56.50 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

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

Merchants Bancorp Price Performance

Shares of MBIN opened at $42.55 on Thursday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 6.74 and a beta of 1.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The business’s 50-day moving average is $38.20 and its 200-day moving average is $41.72. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly 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 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. Merchants Bancorp’s payout ratio is 5.71%.

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was 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. Also, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

Institutional investors have recently bought and sold shares of the stock. Elser Financial Planning Inc bought a new position in shares of Merchants Bancorp during the fourth quarter valued at $994,207,000. Geode Capital Management LLC increased its holdings in shares of Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock worth $25,476,000 after buying an additional 16,666 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock worth $22,039,000 after acquiring an additional 288,553 shares in the last quarter. State Street Corp raised its position in Merchants Bancorp by 4.7% in the 3rd quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after purchasing an additional 20,214 shares during the last quarter. Finally, Banc Funds Co. LLC boosted its stake in Merchants Bancorp by 3.3% in the third quarter. Banc Funds Co. LLC now owns 389,615 shares of the company’s stock worth $17,517,000 after purchasing an additional 12,500 shares in 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.