Merchants Bancorp (NASDAQ:MBIN) Reaches New 1-Year Low – What’s Next?

Merchants Bancorp (NASDAQ:MBIN) shares hit a new 52-week low on Wednesday . The company traded as low as $31.34 and last traded at $31.58, with a volume of 41690 shares changing hands. The stock had previously closed at $33.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James dropped their target price on shares of Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price objective on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Piper Sandler lifted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th.

Merchants Bancorp Stock Performance

The firm’s fifty day moving average price is $38.94 and its 200 day moving average price is $39.63. The firm has a market cap of $1.44 billion, a P/E ratio of 4.97 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s payout ratio is 6.34%.

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was 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 in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.70% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp during the fourth quarter valued at about $994,207,000. PL Capital Advisors LLC raised its holdings in shares of Merchants Bancorp by 3,547.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock worth $250,442,000 after buying an additional 6,678,788 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Merchants Bancorp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock worth $46,211,000 after buying an additional 132,841 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock worth $25,476,000 after buying an additional 16,666 shares during the period. Finally, Royce & Associates LP grew its holdings in shares of Merchants Bancorp by 15.5% during the fourth quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock valued at $20,651,000 after buying an additional 76,056 shares during the last quarter. 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.