Merchants Bancorp (NASDAQ:MBIN) Hits New 1-Year Low – Here’s What Happened

Merchants Bancorp (NASDAQ:MBIN) shares hit a new 52-week low during trading on Monday . The company traded as low as $30.73 and last traded at $31.03, with a volume of 65840 shares trading hands. The stock had previously closed at $32.52.

Analysts Set New Price Targets

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

Merchants Bancorp Stock Down 4.5 %

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 4.92 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The firm’s fifty day moving average price is $37.66 and its 200-day moving average price is $39.10.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s payout ratio is currently 6.34%.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 34.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp during the fourth quarter valued at about $25,000. Cubist Systematic Strategies LLC acquired a new stake in Merchants Bancorp in the fourth quarter valued at approximately $79,000. Bank of Jackson Hole Trust bought a new stake in shares of Merchants Bancorp during the fourth quarter valued at approximately $82,000. Matrix Trust Co raised its position in shares of Merchants Bancorp by 730.8% during the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after purchasing an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Merchants Bancorp by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company’s stock valued at $130,000 after purchasing an additional 1,933 shares during the period. Institutional investors and hedge funds 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.