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

Merchants Bancorp (NASDAQ:MBIN) had its price target boosted by Piper Sandler from $52.50 to $56.50 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, 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 research note on Tuesday, October 29th.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $41.93 on Thursday. 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 company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.65 and a beta of 1.14. The company’s 50 day simple moving average is $38.28 and its 200-day simple moving average is $41.66. 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 earnings per share 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%. As a group, equities research analysts expect that Merchants Bancorp will post 5.17 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Merchants Bancorp’s dividend payout ratio is currently 5.71%.

Insider Transactions at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick D. O’brien acquired 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 39.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBIN. Kestra Investment Management LLC purchased a new position in shares of Merchants Bancorp during the fourth quarter worth about $25,000. CWM LLC boosted its position in shares of 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 in the last quarter. Bank of Jackson Hole Trust purchased a new position in Merchants Bancorp in the fourth quarter valued at about $82,000. Matrix Trust Co raised its holdings in Merchants Bancorp by 730.8% during the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after purchasing an additional 2,324 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Merchants Bancorp in the 3rd quarter valued at about $162,000. 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.