Merchants Bancorp (NASDAQ:MBIN) Sets New 1-Year Low – Here’s Why

Shares of Merchants Bancorp (NASDAQ:MBIN) hit a new 52-week low on Friday . The stock traded as low as $35.50 and last traded at $36.12, with a volume of 12266 shares. The stock had previously closed at $36.00.

Analysts Set New Price Targets

MBIN has been the topic of several research analyst reports. Raymond James decreased their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective for the company. Finally, Piper Sandler increased their target price on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th.

Merchants Bancorp Stock Performance

The stock’s 50-day moving average is $38.66 and its 200-day moving average is $42.07. 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 market cap of $1.68 billion, a price-to-earnings ratio of 6.09 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). The business had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the previous year, the company earned $1.68 EPS. On average, analysts expect that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s dividend payout ratio is presently 5.96%.

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien acquired 40,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $25.00 per share, for a total transaction 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 approximately $1,000,000. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 39.70% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of large investors have recently added to or reduced their stakes in MBIN. CWM LLC boosted its position in Merchants Bancorp by 209.4% in the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after buying an additional 869 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Merchants Bancorp in the third quarter worth about $162,000. Point72 Asset Management L.P. lifted its stake in shares of Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after acquiring an additional 1,412 shares in the last quarter. FMR LLC grew its stake in Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after purchasing an additional 2,699 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Merchants Bancorp by 79.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock worth $193,000 after purchasing an additional 2,101 shares during the last quarter. 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.