Merchants Bancorp (NASDAQ:MBIN) Upgraded to “Hold” at Wall Street Zen

Merchants Bancorp (NASDAQ:MBIN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on MBIN. Piper Sandler restated an “overweight” rating and issued a $42.00 price objective (up from $41.00) on shares of Merchants Bancorp in a report on Thursday. Morgan Stanley restated an “underperform” rating and set a $39.00 price objective (up from $34.00) on shares of Merchants Bancorp in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Merchants Bancorp in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $38.00 price objective (down previously from $40.00) on shares of Merchants Bancorp in a research report on Wednesday. Finally, UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a report on Thursday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.25.

Merchants Bancorp Price Performance

Shares of Merchants Bancorp stock opened at $31.19 on Friday. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $43.82. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.17 and a beta of 1.29. The company has a fifty day moving average of $32.10 and a 200-day moving average of $32.41. 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 posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 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 company had revenue of $171.07 million during the quarter, compared to analyst estimates of $163.90 million. Equities research analysts expect that Merchants Bancorp will post 5.54 EPS for the current year.

Insider Activity at Merchants Bancorp

In related news, CAO Darin L. Thomas bought 3,353 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was purchased 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 $66,847.50. This trade represents a -303.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 34.80% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of MBIN. Bank of New York Mellon Corp raised its position in Merchants Bancorp by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 144,701 shares of the company’s stock valued at $5,354,000 after purchasing an additional 899 shares in the last quarter. Twelve Points Wealth Management LLC grew its stake in Merchants Bancorp by 5.5% during the 1st quarter. Twelve Points Wealth Management LLC now owns 37,783 shares of the company’s stock worth $1,398,000 after buying an additional 1,969 shares during the last quarter. Alps Advisors Inc. grew its stake in Merchants Bancorp by 17.5% during the 1st quarter. Alps Advisors Inc. now owns 9,391 shares of the company’s stock worth $347,000 after buying an additional 1,399 shares during the last quarter. CWM LLC grew its stake in Merchants Bancorp by 168.9% during the 1st quarter. CWM LLC now owns 1,358 shares of the company’s stock valued at $50,000 after purchasing an additional 853 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Merchants Bancorp by 182.2% during the 1st quarter. Signaturefd LLC now owns 731 shares of the company’s stock valued at $27,000 after purchasing an additional 472 shares during the last quarter. 24.57% of the stock is owned by 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.