Merchants Bancorp (NASDAQ:MBIN) Stock Has Average Price Target of $55.25 According to Brokerages

Shares of Merchants Bancorp (NASDAQ:MBIN) have been given a consensus rating of “Hold” by the five research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $55.25.

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Merchants Bancorp from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Raymond James Financial cut Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Morgan Stanley set a $65.00 price objective on Merchants Bancorp and gave the stock an “equal weight” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday, July 31st.

Merchants Bancorp Stock Performance

NASDAQ:MBIN traded down $0.18 during trading hours on Friday, hitting $48.77. 107,308 shares of the company traded hands, compared to its average volume of 215,532. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 9.79 and a beta of 1.21. Merchants Bancorp has a twelve month low of $30.37 and a twelve month high of $56.87. The firm has a 50-day moving average of $52.06 and a 200 day moving average of $49.57. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. The firm had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. On average, analysts forecast that Merchants Bancorp will post 5.57 EPS for the current year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 8.84%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Julia Kaercher sold 9,000 shares of Merchants Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total transaction of $496,800.00. Following the sale, the director owned 727,103 shares in the company, valued at $40,136,085.60. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 44.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP boosted its position in shares of Merchants Bancorp by 2.4% during the 1st quarter. Quantinno Capital Management LP now owns 34,926 shares of the company’s stock valued at $1,499,000 after acquiring an additional 804 shares in the last quarter. Cetera Investment Advisers increased its stake in Merchants Bancorp by 10.9% in the first quarter. Cetera Investment Advisers now owns 8,428 shares of the company’s stock valued at $362,000 after acquiring an additional 831 shares during the period. USA Financial Formulas bought a new stake in Merchants Bancorp in the third quarter valued at about $69,000. NBH Bank bought a new stake in Merchants Bancorp in the second quarter valued at about $113,000. Finally, Renaissance Technologies LLC raised its position in Merchants Bancorp by 8.4% in the first quarter. Renaissance Technologies LLC now owns 49,089 shares of the company’s stock worth $2,106,000 after purchasing an additional 3,789 shares in the last quarter. 24.57% of the stock is owned by institutional investors.

About Merchants Bancorp

Merchants Bancorp is a diversified financial services company headquartered in Carmel, Indiana. Through its banking subsidiary, Merchants Bank of Indiana, the company provides a range of banking and specialized finance solutions to commercial and residential customers across the United States.

The company’s primary activities include multifamily mortgage banking, mortgage warehouse lending and manufactured housing finance. Its multifamily mortgage business originates and services loans for apartment communities and other residential properties, including financing supported by government-sponsored and government-insured programs.