Merchants Bancorp (NASDAQ:MBIN – Get 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:MBIN – Get 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
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
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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