Merchants Bancorp (NASDAQ:MBIN) Earns “Outperform” Rating from Raymond James Financial

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James Financial in a research note issued on Wednesday,Benzinga reports. They presently have a $38.00 price target on the stock, down from their previous price target of $40.00. Raymond James Financial’s target price indicates a potential upside of 21.52% from the company’s previous close.

Several other equities research analysts also recently weighed in on MBIN. Morgan Stanley reaffirmed an “underperform” rating and set a $39.00 target price (up from $34.00) on shares of Merchants Bancorp in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merchants Bancorp in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $41.00 price objective (down from $42.00) on shares of Merchants Bancorp in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Merchants Bancorp presently has a consensus rating of “Hold” and an average target price of $40.25.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $31.27 on Wednesday. The company’s 50 day simple moving average is $32.14 and its 200-day simple moving average is $32.41. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.19 and a beta of 1.29. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $43.82. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.18. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.37%. The business had revenue of $171.07 million for the quarter, compared to the consensus estimate of $163.90 million. As a group, equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Insider Activity

In related news, CAO Darin L. Thomas bought 3,353 shares of the stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the acquisition, the chief accounting officer owned 2,250 shares in the company, valued at approximately $66,847.50. This represents a -303.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 34.80% of the company’s stock.

Institutional Trading of Merchants Bancorp

A number of large investors have recently bought and sold shares of the business. Elser Financial Planning Inc acquired a new stake in Merchants Bancorp during the 2nd quarter worth $934,497,000. Vanguard Group Inc. lifted its stake in shares of Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock worth $45,657,000 after acquiring an additional 26,111 shares during the period. Royce & Associates LP lifted its stake in shares of Merchants Bancorp by 21.2% in the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company’s stock worth $25,401,000 after acquiring an additional 120,262 shares during the period. Geode Capital Management LLC lifted its stake in shares of Merchants Bancorp by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock worth $22,539,000 after acquiring an additional 101,139 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Merchants Bancorp by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 567,980 shares of the company’s stock worth $18,783,000 after acquiring an additional 55,038 shares during the period. Institutional investors and hedge funds 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.