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

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “outperform” rating reissued by research analysts at Raymond James in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $53.00 target price on the stock, up from their previous target price of $50.00. Raymond James’ target price suggests a potential upside of 26.40% from the stock’s current price.

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

Merchants Bancorp Stock Down 1.5 %

MBIN opened at $41.93 on Thursday. The company has a market capitalization of $1.92 billion, a PE ratio of 6.65 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 fifty-two week low of $34.16 and a fifty-two week high of $53.27. The business has a 50-day moving average of $38.28 and a 200-day moving average of $41.70.

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

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elser Financial Planning Inc acquired a new stake in Merchants Bancorp during the fourth quarter worth about $994,207,000. Geode Capital Management LLC grew its holdings in shares of Merchants Bancorp by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock worth $25,476,000 after purchasing an additional 16,666 shares in the last quarter. Royce & Associates LP increased its position in shares of Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the period. State Street Corp raised its stake in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its stake in Merchants Bancorp by 3.3% during the third quarter. Banc Funds Co. LLC now owns 389,615 shares of the company’s stock worth $17,517,000 after buying an additional 12,500 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Company Profile

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.