Merchants Bancorp (NASDAQ:MBIN) Rating Reiterated by Piper Sandler

Merchants Bancorp (NASDAQ:MBIN)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They currently have a $58.50 target price on the stock, up from their prior target price of $53.00. Piper Sandler’s target price points to a potential upside of 27.53% from the company’s current price.

Separately, Raymond James boosted their target price on shares of Merchants Bancorp from $44.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 30th.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $45.87 on Friday. Merchants Bancorp has a twelve month low of $21.50 and a twelve month high of $48.68. The firm has a market cap of $1.99 billion, a P/E ratio of 7.20 and a beta of 1.17. The company has a 50 day moving average of $41.29 and a 200 day moving average of $38.79. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.80.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.43. The company had revenue of $355.05 million during the quarter, compared to analyst estimates of $144.15 million. Merchants Bancorp had a net margin of 23.55% and a return on equity of 27.51%. As a group, research analysts expect that Merchants Bancorp will post 6.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC grew its position in shares of Merchants Bancorp by 2.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 15,748 shares of the company’s stock valued at $671,000 after acquiring an additional 360 shares during the period. Raymond James & Associates grew its position in shares of Merchants Bancorp by 1.4% during the 3rd quarter. Raymond James & Associates now owns 34,501 shares of the company’s stock valued at $956,000 after acquiring an additional 489 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in shares of Merchants Bancorp during the 4th quarter valued at $26,000. Denali Advisors LLC grew its position in shares of Merchants Bancorp by 0.8% during the 1st quarter. Denali Advisors LLC now owns 81,313 shares of the company’s stock valued at $3,511,000 after acquiring an additional 680 shares during the period. Finally, Swiss National Bank grew its position in shares of Merchants Bancorp by 1.9% during the 3rd quarter. Swiss National Bank now owns 38,000 shares of the company’s stock valued at $1,053,000 after acquiring an additional 700 shares during the period. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

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.