Merchants Bancorp (NASDAQ:MBIN) Earns Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a report published on Friday morning, Benzinga reports. Piper Sandler currently has a $58.50 price target on the stock, up from their previous price target of $53.00.

Separately, Raymond James lifted their price objective on Merchants Bancorp from $44.00 to $55.00 and gave the company a strong-buy rating in a report on Tuesday, January 30th.

Merchants Bancorp Stock Up 2.1 %

Shares of MBIN stock opened at $46.83 on Friday. The stock has a market cap of $2.03 billion, a P/E ratio of 7.35 and a beta of 1.17. Merchants Bancorp has a one year low of $22.18 and a one year high of $48.68. The stock has a fifty day moving average price of $41.41 and a 200 day moving average price of $39.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, April 29th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.37 by $0.43. The firm had revenue of $355.05 million during the quarter, compared to analysts’ expectations of $144.15 million. Merchants Bancorp had a return on equity of 27.51% and a net margin of 23.55%. Analysts predict that Merchants Bancorp will post 6.02 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sapient Capital LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at $2,928,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Merchants Bancorp by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 109,732 shares of the company’s stock valued at $4,672,000 after buying an additional 53,333 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Merchants Bancorp by 42,253.6% in the fourth quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock valued at $9,252,000 after buying an additional 216,761 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Merchants Bancorp by 2.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 63,576 shares of the company’s stock valued at $2,707,000 after buying an additional 1,583 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Merchants Bancorp by 85.9% in the third quarter. Los Angeles Capital Management LLC now owns 76,330 shares of the company’s stock valued at $2,116,000 after buying an additional 35,280 shares in the last quarter. 24.57% of the stock is owned by 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.