Brokerages Set Merchants Bancorp (NASDAQ:MBIN) PT at $41.00

Shares of Merchants Bancorp (NASDAQ:MBIN) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $41.00.

MBIN has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of Merchants Bancorp from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Raymond James Financial reiterated an “outperform” rating and set a $38.00 price objective (down from $40.00) on shares of Merchants Bancorp in a research note on Wednesday, October 29th. Piper Sandler reissued an “overweight” rating and set a $42.00 price objective (up previously from $41.00) on shares of Merchants Bancorp in a report on Thursday, October 30th. Wall Street Zen raised Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th.

Hedge Funds Weigh In On Merchants Bancorp

A number of institutional investors have recently made changes to their positions in MBIN. Millennium Management LLC grew its position in Merchants Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock worth $11,609,000 after acquiring an additional 210,151 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Merchants Bancorp by 1,509.5% in the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock worth $5,589,000 after purchasing an additional 164,834 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Merchants Bancorp by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock valued at $22,539,000 after purchasing an additional 101,139 shares during the last quarter. Doma Perpetual Capital Management LLC purchased a new position in shares of Merchants Bancorp during the 3rd quarter valued at about $2,984,000. Finally, Goldman Sachs Group Inc. lifted its position in Merchants Bancorp by 97.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 162,285 shares of the company’s stock worth $5,527,000 after buying an additional 80,136 shares during the last quarter. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Up 0.5%

Merchants Bancorp stock opened at $46.56 on Monday. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $47.09. The firm has a 50 day moving average price of $36.63 and a 200-day moving average price of $33.60. The company has a market capitalization of $2.14 billion, a P/E ratio of 12.32 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 1.73.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.94 by $0.34. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%.The business had revenue of $193.49 million for the quarter, compared to the consensus estimate of $170.80 million. As a group, equities analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.9%. Merchants Bancorp’s dividend payout ratio is currently 10.58%.

Merchants Bancorp declared that its board has approved a stock buyback program on Wednesday, January 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.