Merchants Bancorp (NASDAQ:MBIN) Rating Reiterated by Piper Sandler

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $58.50 target price on the stock, up from their prior target price of $53.00. Piper Sandler’s target price points to a potential upside of 27.53% from the stock’s current price.

Separately, Raymond James boosted their price target on shares of Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 30th.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $45.87 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 7.20 and a beta of 1.17. The company has a 50 day moving average price of $41.29 and a 200-day moving average price of $38.79. Merchants Bancorp has a 1-year low of $21.50 and a 1-year high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.43. The firm had revenue of $355.05 million during the quarter, compared to analyst estimates of $144.15 million. Merchants Bancorp had a net margin of 23.55% and a return on equity of 27.51%. Equities research analysts forecast that Merchants Bancorp will post 6.02 EPS for the current year.

Institutional Investors Weigh In On Merchants Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MeadowBrook Investment Advisors LLC acquired a new stake in Merchants Bancorp during the 4th quarter worth $26,000. AJOVista LLC acquired a new stake in Merchants Bancorp during the 4th quarter worth $86,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Merchants Bancorp by 45.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,648 shares of the company’s stock worth $198,000 after purchasing an additional 1,463 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Merchants Bancorp during the 3rd quarter worth $199,000. Finally, Arizona State Retirement System acquired a new stake in Merchants Bancorp during the 4th quarter worth $206,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

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.