Merchants Bancorp (NASDAQ:MBIN) Reaches New 52-Week Low – Time to Sell?

Merchants Bancorp (NASDAQ:MBIN)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $35.24 and last traded at $35.50, with a volume of 163689 shares. The stock had previously closed at $35.86.

Analysts Set New Price Targets

Several brokerages have commented on MBIN. Raymond James decreased their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Piper Sandler boosted their price objective on shares of Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, November 26th.

Merchants Bancorp Stock Performance

The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company has a market capitalization of $1.59 billion, a PE ratio of 5.75 and a beta of 1.14. The stock has a 50-day simple moving average of $38.44 and a 200 day simple moving average of $41.92.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period last year, the firm earned $1.68 EPS. Equities analysts anticipate that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.96%.

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O’brien acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $1,000,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 39.70% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Merchants Bancorp by 3.7% in the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after purchasing an additional 456 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Merchants Bancorp by 9.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock worth $240,000 after acquiring an additional 460 shares during the period. Sei Investments Co. boosted its position in shares of Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock worth $347,000 after acquiring an additional 800 shares during the last quarter. CWM LLC grew its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares during the period. Finally, Quest Partners LLC increased its position in Merchants Bancorp by 11.7% during the second quarter. Quest Partners LLC now owns 9,913 shares of the company’s stock worth $402,000 after purchasing an additional 1,039 shares during the last quarter. 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.