Piper Sandler Increases Merchants Bancorp (NASDAQ:MBIN) Price Target to $52.50

Merchants Bancorp (NASDAQ:MBIN) had its price target increased by investment analysts at Piper Sandler from $48.00 to $52.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 26.75% from the company’s previous close.

A number of other research firms also recently weighed in on MBIN. Raymond James dropped their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley began coverage on Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $41.42 on Tuesday. The company’s fifty day moving average is $42.40 and its 200 day moving average is $42.71. Merchants Bancorp has a twelve month low of $32.52 and a twelve month high of $53.27. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 6.86 and a beta of 1.12. 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 posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same period in the prior year, the company posted $1.68 earnings per share. Sell-side analysts forecast that Merchants Bancorp will post 5.77 EPS for the current year.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Patrick D. O’brien purchased 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 39.70% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Merchants Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock valued at $41,465,000 after acquiring an additional 94,781 shares during the last quarter. Vanguard Group Inc. raised its holdings in Merchants Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after purchasing an additional 24,122 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Merchants Bancorp by 3.0% in the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock worth $25,476,000 after buying an additional 16,666 shares during the period. Royce & Associates LP lifted its stake in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the period. Finally, State Street Corp lifted its position in Merchants Bancorp by 4.7% during the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after buying an additional 20,214 shares during the period. 24.57% of the stock is currently owned by 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.