Piper Sandler Forecasts Strong Price Appreciation for Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) had its target price lifted by Piper Sandler from $52.50 to $56.50 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 34.75% from the company’s current price.

Separately, Raymond James lowered their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Merchants Bancorp Trading Down 1.5 %

Shares of MBIN stock opened at $41.93 on Thursday. The stock has a fifty day simple moving average of $38.28 and a two-hundred day simple moving average of $41.70. Merchants Bancorp has a 52-week low of $34.16 and a 52-week high of $53.27. The firm 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 quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its 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 return on equity of 22.86% and a net margin of 22.08%. On average, analysts predict 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 the stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp 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 completion of the transaction, the insider now directly owns 27,606 shares of the company’s stock, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.