Merchants Bancorp (NASDAQ:MBIN) Price Target Increased to $37.00 by Analysts at Raymond James

Merchants Bancorp (NASDAQ:MBINGet Rating) had its price objective hoisted by Raymond James from $33.00 to $37.00 in a research note released on Monday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $27.70 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 5.47 and a beta of 1.11. The firm has a fifty day simple moving average of $24.04 and a two-hundred day simple moving average of $26.18. Merchants Bancorp has a 12 month low of $21.52 and a 12 month high of $33.57.

Merchants Bancorp (NASDAQ:MBINGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.21. Merchants Bancorp had a net margin of 45.42% and a return on equity of 27.60%. Analysts expect that Merchants Bancorp will post 4.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Tuesday, June 14th. Merchants Bancorp’s dividend payout ratio is currently 5.53%.

Insider Activity

In other Merchants Bancorp news, CEO Michael R. Dury acquired 4,500 shares of Merchants Bancorp stock in a transaction dated Friday, May 13th. The stock was purchased at an average cost of $23.26 per share, for a total transaction of $104,670.00. Following the completion of the acquisition, the chief executive officer now directly owns 93,260 shares of the company’s stock, valued at $2,169,227.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 40.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MBIN. Steward Partners Investment Advisory LLC boosted its holdings in Merchants Bancorp by 49.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,486 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the last quarter. Amalgamated Bank purchased a new position in Merchants Bancorp during the first quarter worth about $49,000. Exane Derivatives purchased a new position in Merchants Bancorp during the first quarter worth about $114,000. SG Americas Securities LLC purchased a new position in Merchants Bancorp during the second quarter worth about $149,000. Finally, Fairfield Bush & CO. purchased a new position in Merchants Bancorp during the first quarter worth about $163,000. 14.78% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Company Profile

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Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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