Merchants Bancorp (NASDAQ:MBIN) Reaches New 1-Year Low After Analyst Downgrade

Merchants Bancorp (NASDAQ:MBIN)’s share price reached a new 52-week low on Thursday after Raymond James lowered their price target on the stock from $53.00 to $45.00. Raymond James currently has an outperform rating on the stock. Merchants Bancorp traded as low as $33.60 and last traded at $34.21, with a volume of 52640 shares. The stock had previously closed at $37.17.

MBIN has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler raised their price target on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday, January 30th.

Insiders Place Their Bets

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in shares of Merchants Bancorp in the fourth quarter worth about $25,000. Cubist Systematic Strategies LLC purchased a new position in Merchants Bancorp during the 4th quarter valued at about $79,000. Bank of Jackson Hole Trust bought a new stake in Merchants Bancorp during the fourth quarter worth about $82,000. Matrix Trust Co grew its holdings in Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after purchasing an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Merchants Bancorp by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company’s stock valued at $130,000 after purchasing an additional 1,933 shares in the last quarter. 24.57% of the stock is owned by institutional investors.

Merchants Bancorp Stock Down 0.7 %

The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The company’s fifty day moving average price is $39.87 and its 200-day moving average price is $40.13. The stock has a market capitalization of $1.53 billion, a PE ratio of 5.30 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

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.