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

Merchants Bancorp (NASDAQ:MBIN) had its price objective lowered by Raymond James from $53.00 to $45.00 in a research report released on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler raised their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley decreased their price target on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th.

Merchants Bancorp Stock Down 0.7 %

Shares of NASDAQ MBIN opened at $33.43 on Wednesday. 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 has a 12-month low of $31.50 and a 12-month high of $53.27. The firm’s 50-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 price-to-earnings ratio of 5.30 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) 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, equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

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

Insiders Place Their Bets

In other 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 completion of the sale, the insider now owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp bought a new position in shares of Merchants Bancorp during the 4th quarter worth $395,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Merchants Bancorp by 20.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,527 shares of the company’s stock worth $894,000 after acquiring an additional 4,208 shares during the period. Squarepoint Ops LLC increased its position in 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 purchasing an additional 6,778 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Merchants Bancorp in the 4th quarter valued at about $379,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Merchants Bancorp in the 4th quarter worth approximately $1,282,000. 24.57% of the stock is currently 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.