Piper Sandler Boosts Merchants Bancorp (NASDAQ:MBIN) Price Target to $52.50

Merchants Bancorp (NASDAQ:MBIN) had its price objective boosted by Piper Sandler from $48.00 to $52.50 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Raymond James reduced their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price for the company.

Merchants Bancorp Price Performance

MBIN opened at $41.28 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 1-year low of $33.05 and a 1-year high of $53.27. The company has a 50-day moving average of $42.03 and a 200-day moving average of $42.60. The company has a market capitalization of $1.89 billion, a P/E ratio of 6.83 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same quarter last year, the firm posted $1.68 earnings per share. Equities analysts expect that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.96%.

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 39.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

Several hedge funds have recently bought and sold shares of MBIN. Assenagon Asset Management S.A. lifted its position in Merchants Bancorp by 91.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after buying an additional 126,375 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Merchants Bancorp by 441.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after acquiring an additional 87,012 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Merchants Bancorp by 75.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock worth $5,779,000 after acquiring an additional 61,292 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Merchants Bancorp in the first quarter valued at about $587,000. Finally, Royce & Associates LP increased its position in 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 purchasing an additional 288,553 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other 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.