Piper Sandler Reiterates "Overweight" Rating for Merchants Bancorp (NASDAQ:MBIN)

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Piper Sandler in a research report issued on Friday, Benzinga reports. They currently have a $56.00 target price on the stock, down from their previous target price of $58.50. Piper Sandler's price target would suggest a potential upside of 30.84% from the company's current price.

Separately, Raymond James restated a "strong-buy" rating and set a $55.00 target price on shares of Merchants Bancorp in a report on Wednesday.

Merchants Bancorp Price Performance

NASDAQ:MBIN traded down $0.04 during mid-day trading on Friday, reaching $42.80. 496,530 shares of the company were exchanged, compared to its average volume of 156,553. The company has a fifty day moving average of $41.87 and a 200 day moving average of $39.86. Merchants Bancorp has a 12 month low of $22.70 and a 12 month high of $48.68. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.86 billion, a PE ratio of 6.73 and a beta of 1.17.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its earnings results on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.43. The firm had revenue of $355.05 million for the quarter, compared to analyst estimates of $144.15 million. Merchants Bancorp had a return on equity of 26.65% and a net margin of 23.55%. On average, research analysts anticipate that Merchants Bancorp will post 6.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank increased its stake in Merchants Bancorp by 14,856.3% in the first quarter. Comerica Bank now owns 4,786 shares of the company's stock valued at $207,000 after purchasing an additional 4,754 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Merchants Bancorp by 441.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company's stock valued at $4,608,000 after acquiring an additional 87,012 shares during the last quarter. Black Maple Capital Management LP bought a new stake in shares of Merchants Bancorp during the 1st quarter worth $609,000. Caxton Associates LP bought a new position in shares of Merchants Bancorp during the 1st quarter valued at approximately $239,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Merchants Bancorp in the first quarter worth $587,000. 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.