Merchants Bancorp (NASDAQ:MBIN) Given Outperform Rating at Raymond James

Raymond James reissued their outperform rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a research report released on Tuesday,Benzinga reports. Raymond James currently has a $41.00 price target on the stock, down from their previous price target of $45.00.

MBIN has been the subject of a number of other reports. Piper Sandler increased their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley decreased their price target on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $30.70 on Tuesday. The stock has a 50-day moving average price of $36.17 and a two-hundred day moving average price of $38.54. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $53.27. The company has a market capitalization of $1.41 billion, a PE ratio of 4.87 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.32). Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. The business had revenue of $287.20 million during the quarter, compared to the consensus estimate of $169.00 million. Analysts expect that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

Institutional Trading of Merchants Bancorp

A number of large investors have recently bought and sold shares of MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at about $994,207,000. PL Capital Advisors LLC boosted its position in shares of Merchants Bancorp by 3,547.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after purchasing an additional 6,678,788 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Merchants Bancorp by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after purchasing an additional 132,841 shares in the last quarter. Moran Wealth Management LLC bought a new stake in shares of Merchants Bancorp during the 4th quarter valued at about $3,524,000. Finally, Endeavour Capital Advisors Inc. bought a new stake in shares of Merchants Bancorp during the 4th quarter valued at about $3,509,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.