Merchants Bancorp (NASDAQ:MBIN) Receives Outperform Rating from Raymond James

Raymond James reissued their outperform rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $53.00 target price on the stock, up from their previous target price of $50.00.

Separately, Piper Sandler upped their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $42.55 on Thursday. The company’s 50-day moving average is $38.20 and its two-hundred day moving average is $41.72. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 6.74 and a beta of 1.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Analysts forecast that Merchants Bancorp will post 5.17 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s payout ratio is currently 5.71%.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was purchased 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 in the company, valued at approximately $1,000,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 39.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MBIN. Sei Investments Co. lifted its position in Merchants Bancorp by 10.3% during the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock worth $347,000 after acquiring an additional 800 shares during the period. AQR Capital Management LLC raised its stake in shares of Merchants Bancorp by 66.1% during the second quarter. AQR Capital Management LLC now owns 59,465 shares of the company’s stock worth $2,411,000 after purchasing an additional 23,661 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Merchants Bancorp by 139.9% during the second quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock worth $3,713,000 after purchasing an additional 53,401 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Merchants Bancorp by 10.4% during the second quarter. The Manufacturers Life Insurance Company now owns 13,046 shares of the company’s stock worth $529,000 after purchasing an additional 1,230 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Merchants Bancorp in the 2nd quarter valued at $313,000. 24.57% of the stock is owned by institutional investors and hedge funds.

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.