Raymond James Lowers Merchants Bancorp (NASDAQ:MBIN) Price Target to $45.00

Merchants Bancorp (NASDAQ:MBIN) had its price target decreased by investment analysts at Raymond James from $53.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 21.42% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Piper Sandler increased their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th.

Merchants Bancorp Trading Up 0.6 %

Shares of MBIN traded up $0.22 during mid-day trading on Wednesday, reaching $37.06. The company had a trading volume of 31,075 shares, compared to its average volume of 185,314. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27. The firm has a fifty day simple moving average of $40.13 and a 200-day simple moving average of $40.28. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 5.87 and a beta of 1.16. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, sell-side analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the sale, the insider now directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 39.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Merchants Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of Merchants Bancorp in the fourth quarter worth about $395,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Merchants Bancorp by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,527 shares of the company’s stock valued at $894,000 after purchasing an additional 4,208 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Merchants Bancorp by 13.4% during the 4th quarter. Squarepoint Ops LLC now owns 57,223 shares of the company’s stock valued at $2,087,000 after buying an additional 6,778 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Merchants Bancorp during the 4th quarter valued at approximately $379,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth approximately $1,282,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

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.