Merchants Bancorp (NASDAQ:MBIN) Downgraded by Raymond James

Raymond James lowered shares of Merchants Bancorp (NASDAQ:MBIN) from a strong-buy rating to an outperform rating in a research note published on Tuesday, MarketBeat reports. Raymond James currently has $58.00 price target on the stock, up from their previous price target of $55.00.

Separately, Piper Sandler reiterated an overweight rating and issued a $56.00 target price (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th.

Merchants Bancorp Price Performance

Shares of MBIN stock opened at $42.86 on Tuesday. Merchants Bancorp has a twelve month low of $25.78 and a twelve month high of $53.27. The company has a market capitalization of $1.86 billion, a PE ratio of 6.73 and a beta of 1.12. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $42.63 and a 200-day simple moving average of $42.12.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The business had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. During the same period in the previous year, the company earned $1.31 earnings per share. Equities research analysts anticipate that Merchants Bancorp will post 6.22 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.84%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Insider Buying and Selling at Merchants Bancorp

In other news, CEO Michael R. Dury bought 6,000 shares of Merchants Bancorp stock in a transaction on Wednesday, July 31st. The stock was purchased at an average cost of $44.82 per share, with a total value of $268,920.00. Following the purchase, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 39.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Merchants Bancorp

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in shares of Merchants Bancorp by 11.8% during the 2nd quarter. Rhumbline Advisers now owns 28,124 shares of the company’s stock worth $1,140,000 after buying an additional 2,971 shares in the last quarter. nVerses Capital LLC increased its stake in shares of Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after acquiring an additional 1,300 shares during the period. Principal Financial Group Inc. raised its holdings in Merchants Bancorp by 11.7% during the second quarter. Principal Financial Group Inc. now owns 15,108 shares of the company’s stock worth $612,000 after purchasing an additional 1,580 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. boosted its stake in Merchants Bancorp by 92.0% during the 2nd quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,602 shares of the company’s stock valued at $2,538,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Merchants Bancorp by 79.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the period. Institutional investors and hedge funds 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.