Merchants Bancorp (NASDAQ:MBIN) Price Target Lowered to $45.00 at Raymond James

Merchants Bancorp (NASDAQ:MBIN) had its price objective cut by Raymond James from $53.00 to $45.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on MBIN. Morgan Stanley dropped their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler upped their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday, January 30th.

Merchants Bancorp Stock Performance

MBIN stock opened at $37.17 on Wednesday. The firm has a market cap of $1.70 billion, a PE ratio of 5.89 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock has a 50-day moving average price of $40.09 and a 200-day moving average price of $40.26. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, February 3rd. The company reported $1.85 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%. As a group, equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s dividend payout ratio is presently 6.34%.

Insider Buying and Selling

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 39.70% of the stock is owned by company insiders.

Institutional Trading of Merchants Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBIN. Elser Financial Planning Inc bought a new position in shares of Merchants Bancorp in the fourth quarter valued at approximately $994,207,000. PL Capital Advisors LLC lifted its stake in Merchants Bancorp by 3,547.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after acquiring an additional 6,678,788 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Merchants Bancorp by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after acquiring an additional 132,841 shares in the last quarter. Moran Wealth Management LLC purchased a new position in Merchants Bancorp during the 4th quarter worth $3,524,000. Finally, Endeavour Capital Advisors Inc. bought a new stake in shares of Merchants Bancorp in the 4th quarter worth $3,509,000. 24.57% of the stock is owned by institutional investors.

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.