Merchants Bancorp (NASDAQ:MBIN) Receives $43.25 Average PT from Brokerages

Shares of Merchants Bancorp (NASDAQ:MBIN) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $43.25.

A number of research analysts recently commented on MBIN shares. Morgan Stanley boosted their price target on Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Zacks Research raised shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th.

Insider Buying and Selling

In other Merchants Bancorp news, insider Martin A. Schroeter sold 5,500 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the completion of the transaction, the insider owned 10,881 shares of the company’s stock, valued at $501,178.86. This represents a 33.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 34.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Merchants Bancorp by 1.0% during the first quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock valued at $8,146,000 after buying an additional 2,101 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Merchants Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after acquiring an additional 449 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock worth $1,216,000 after acquiring an additional 12,361 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after acquiring an additional 795 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Merchants Bancorp by 10.3% during the 2nd quarter. Franklin Resources Inc. now owns 45,335 shares of the company’s stock valued at $1,499,000 after acquiring an additional 4,224 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Trading Up 0.5%

Shares of MBIN stock opened at $44.49 on Tuesday. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $48.50. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.86 and a current ratio of 1.16. The firm has a market capitalization of $2.04 billion, a PE ratio of 11.77 and a beta of 1.15. The stock has a fifty day simple moving average of $42.63 and a two-hundred day simple moving average of $36.42.

Merchants Bancorp (NASDAQ:MBIN) last announced 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 13.17% and a net margin of 16.02%.The business had revenue of $185.29 million for the quarter, compared to the consensus estimate of $170.80 million. On average, analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a $0.11 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.10. Merchants Bancorp’s payout ratio is presently 11.64%.

Merchants Bancorp announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.