Merchants Bancorp (NASDAQ:MBIN) Earns Overweight Rating from Piper Sandler

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They currently have a $48.00 price target on the stock, down from their prior price target of $56.00. Piper Sandler’s price target points to a potential upside of 32.16% from the company’s previous close.

Several other equities research analysts have also commented on MBIN. Raymond James cut their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday. Morgan Stanley started coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock.

Merchants Bancorp Trading Up 0.8 %

Shares of Merchants Bancorp stock traded up $0.29 during midday trading on Wednesday, reaching $36.32. The company had a trading volume of 93,557 shares, compared to its average volume of 179,011. The stock has a fifty day moving average price of $44.37 and a 200 day moving average price of $43.00. Merchants Bancorp has a fifty-two week low of $29.60 and a fifty-two week high of $53.27. The firm has a market cap of $1.57 billion, a PE ratio of 5.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results 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). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the firm posted $1.68 EPS. On average, equities analysts anticipate that Merchants Bancorp will post 6.08 earnings per share for the current year.

Insider Activity at Merchants Bancorp

In related news, CEO Michael R. Dury acquired 5,200 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now directly owns 93,793 shares in the company, valued at $3,630,727.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael R. Dury bought 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the completion of the transaction, the chief executive officer now directly owns 93,793 shares in the company, valued at approximately $3,630,727.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction 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 sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds have recently modified their holdings of MBIN. CWM LLC increased its position in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after buying an additional 869 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,300 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Merchants Bancorp in the 3rd quarter worth about $162,000. Point72 Asset Management L.P. raised its stake 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Merchants Bancorp by 79.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the last quarter. 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.