Merchants Bancorp (NASDAQ:MBIN) Price Target Raised to $56.50

Merchants Bancorp (NASDAQ:MBIN) had its price target hoisted by analysts at Piper Sandler from $52.50 to $56.50 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 33.41% from the stock’s current price.

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

Merchants Bancorp Trading Up 6.5 %

Shares of NASDAQ MBIN opened at $42.35 on Thursday. Merchants Bancorp has a twelve month low of $34.16 and a twelve month high of $53.27. The firm has a market cap of $1.94 billion, a PE ratio of 7.01 and a beta of 1.14. The business has a fifty day simple moving average of $38.20 and a two-hundred day simple moving average of $41.72. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data 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 22.36% and a net margin of 21.33%. Analysts expect that Merchants Bancorp will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick D. O’brien acquired 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $25.00 per share, with a total value 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 disclosure for this purchase can be found here. 39.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBIN. Sei Investments Co. grew its stake in Merchants Bancorp by 10.3% during the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after purchasing an additional 800 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Merchants Bancorp by 66.1% during the second quarter. AQR Capital Management LLC now owns 59,465 shares of the company’s stock worth $2,411,000 after purchasing an additional 23,661 shares during the period. Millennium Management LLC boosted its position in Merchants Bancorp by 139.9% in the second quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock valued at $3,713,000 after buying an additional 53,401 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Merchants Bancorp by 10.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,046 shares of the company’s stock worth $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 2nd quarter worth approximately $313,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

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.