Merchants Bancorp (NASDAQ:MBIN) Given Outperform Rating at Raymond James

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Raymond James in a research note issued on Thursday,Benzinga reports. They presently have a $53.00 price objective on the stock, up from their prior price objective of $50.00. Raymond James’ price objective suggests a potential upside of 26.40% from the company’s previous close.

Separately, Piper Sandler increased 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 %

Shares of NASDAQ MBIN opened at $41.93 on Thursday. Merchants Bancorp has a 52-week low of $34.16 and a 52-week high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The business has a fifty day moving average of $38.28 and a two-hundred day moving average of $41.70. The stock has a market cap of $1.92 billion, a PE ratio of 6.65 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) 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%. As a group, equities research analysts expect that Merchants Bancorp will post 5.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 39.70% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

Several large investors have recently bought and sold shares of the business. Royce & Associates LP raised its position in shares of Merchants Bancorp by 143.1% during the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after acquiring an additional 288,553 shares during the last quarter. State Street Corp grew its stake in shares of Merchants Bancorp by 4.7% during the third quarter. State Street Corp now owns 448,525 shares of the company’s stock worth $20,205,000 after purchasing an additional 20,214 shares during the period. Geode Capital Management LLC grew its stake in shares of Merchants Bancorp by 3.0% during the third 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 during the period. Barclays PLC increased its holdings in Merchants Bancorp by 351.8% in the third quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after purchasing an additional 22,046 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Merchants Bancorp by 85.3% in the third quarter. Franklin Resources Inc. now owns 33,338 shares of the company’s stock valued at $1,504,000 after buying an additional 15,342 shares during the period. 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.