Merchants Bancorp’s (MBIN) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $48.00 price target on the stock, down from their prior price target of $56.00.

Other research analysts also recently issued reports about the company. Raymond James decreased their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley initiated coverage on Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price target for the company.

Merchants Bancorp Stock Down 1.7 %

Shares of NASDAQ:MBIN traded down $0.62 during mid-day trading on Wednesday, reaching $36.32. 205,132 shares of the stock were exchanged, compared to its average volume of 179,882. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.66 billion, a P/E ratio of 6.01 and a beta of 1.09. Merchants Bancorp has a one year low of $30.42 and a one year high of $53.27. The stock’s 50 day simple moving average is $43.86 and its 200-day simple moving average is $42.90.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The firm had revenue of $355.67 million for the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a return on equity of 23.14% and a net margin of 21.33%. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, equities research analysts predict that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. Merchants Bancorp’s dividend payout ratio is 5.96%.

Insider Buying and Selling at Merchants Bancorp

In other news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the sale, the insider now directly owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after purchasing an additional 869 shares during the last quarter. nVerses Capital LLC raised its holdings in Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after acquiring an additional 1,300 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Merchants Bancorp in the 3rd quarter valued at $162,000. Point72 Asset Management L.P. raised its holdings in Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Merchants Bancorp in the 1st quarter valued at $202,000. 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.