Merchants Bancorp (NASDAQ:MBIN) Receives "Outperform" Rating from Raymond James

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Raymond James in a research report issued on Tuesday,Benzinga reports. They currently have a $41.00 price target on the stock, down from their previous price target of $45.00. Raymond James' target price points to a potential upside of 32.76% from the stock's current price.

Other analysts have also recently issued research reports about the company. Morgan Stanley reduced their price target on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Piper Sandler increased their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th.

Merchants Bancorp Stock Performance

NASDAQ:MBIN traded down $2.72 during mid-day trading on Tuesday, reaching $30.88. The company's stock had a trading volume of 106,199 shares, compared to its average volume of 191,543. The firm's fifty day moving average price is $36.41 and its two-hundred day moving average price is $38.60. 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 $1.42 billion, a P/E ratio of 4.84 and a beta of 1.15. Merchants Bancorp has a 12-month low of $27.65 and a 12-month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). The company had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. On average, equities analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.80% of the company's stock.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of MBIN. Barclays PLC grew its holdings in shares of Merchants Bancorp by 351.8% during the third quarter. Barclays PLC now owns 28,312 shares of the company's stock valued at $1,273,000 after buying an additional 22,046 shares during the last quarter. Franklin Resources Inc. grew its stake in Merchants Bancorp by 85.3% during the 3rd quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock valued at $1,504,000 after purchasing an additional 15,342 shares during the last quarter. Matrix Trust Co increased its holdings in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock valued at $96,000 after purchasing an additional 2,324 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Merchants Bancorp by 51.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 112,712 shares of the company's stock worth $4,111,000 after purchasing an additional 38,453 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth about $293,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

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.

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