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

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Key Points

  • Piper Sandler has revised its target price for Merchants Bancorp from $42.00 to $41.00 while maintaining an "overweight" rating on the stock, indicating a potential upside of 28.37% from its current price.
  • Several analysts have downgraded their expectations, with Morgan Stanley lowering their price target to $34.00 and Wall Street Zen downgrading the stock from "hold" to "sell."
  • Merchants Bancorp reported earnings of $0.60 per share, falling short of analysts’ expectations, while also generating revenue of $179.20 million for the quarter, surpassing estimates of $161.10 million.
  • Looking to export and analyze Merchants Bancorp data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Piper Sandler in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $41.00 price target on the stock, down from their prior price target of $42.00. Piper Sandler's target price suggests a potential upside of 34.59% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Morgan Stanley reduced their price objective on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Raymond James Financial reiterated an "outperform" rating and issued a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

View Our Latest Report on Merchants Bancorp

Merchants Bancorp Trading Up 0.9%

NASDAQ:MBIN traded up $0.26 on Wednesday, reaching $30.46. The stock had a trading volume of 123,046 shares, compared to its average volume of 176,627. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 6.65 and a beta of 1.30. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.20 and a quick ratio of 0.88. The firm's fifty day moving average is $33.16 and its two-hundred day moving average is $35.52. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $47.94.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.52). The company had revenue of $179.20 million for the quarter, compared to analysts' expectations of $161.10 million. Merchants Bancorp had a return on equity of 16.26% and a net margin of 18.06%. Equities analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBIN. Signaturefd LLC grew its position in Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock valued at $27,000 after purchasing an additional 472 shares during the period. CWM LLC grew its holdings in Merchants Bancorp by 168.9% during the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock valued at $50,000 after buying an additional 853 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Merchants Bancorp during the 4th quarter valued at about $79,000. Tower Research Capital LLC TRC increased its position in shares of Merchants Bancorp by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after purchasing an additional 1,933 shares during the last quarter. Finally, Matrix Trust Co increased its position in shares of Merchants Bancorp by 45.0% in the first quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after purchasing an additional 1,188 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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