Merchants Bancorp (NASDAQ:MBIN) Price Target Lowered to $55.00 at Raymond James

Merchants Bancorp (NASDAQ:MBIN) had its price objective trimmed by Raymond James from $58.00 to $55.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, Morgan Stanley started coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price target on the stock.

Merchants Bancorp Trading Down 17.9 %

Shares of NASDAQ MBIN opened at $36.03 on Tuesday. Merchants Bancorp has a 1-year low of $28.99 and a 1-year high of $53.27. The company has a 50-day moving average of $44.53 and a two-hundred day moving average of $43.02. The company has a market cap of $1.56 billion, a PE ratio of 5.66 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The company had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same quarter last year, the firm earned $1.68 EPS. As a group, equities analysts expect that Merchants Bancorp will post 6.08 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, September 13th. Merchants Bancorp’s dividend payout ratio is 5.65%.

Insider Activity at Merchants Bancorp

In related news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael R. Dury bought 5,200 shares of Merchants Bancorp stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the acquisition, the chief executive officer now owns 93,793 shares in the company, valued at approximately $3,630,727.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after purchasing an additional 1,300 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Merchants Bancorp by 54.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after purchasing an additional 1,412 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 in the last quarter. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Merchants Bancorp during the 1st quarter valued at about $202,000. Institutional investors own 24.57% of the company’s stock.

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.