Merchants Bancorp’s (MBIN) “Outperform” Rating Reaffirmed at Raymond James Financial

Raymond James Financial reissued their outperform rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a research note published on Wednesday,Benzinga reports. Raymond James Financial currently has a $38.00 target price on the stock, down from their previous target price of $40.00.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (down from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merchants Bancorp in a report on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $39.00 target price (up from $34.00) on shares of Merchants Bancorp in a report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.33.

Merchants Bancorp Trading Down 2.0%

Shares of Merchants Bancorp stock opened at $31.75 on Wednesday. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $43.82. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.45. The stock has a market cap of $1.46 billion, a PE ratio of 7.30 and a beta of 1.29. The company has a 50-day moving average of $32.15 and a two-hundred day moving average of $32.42.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.18. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.37%. The company had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.90 million. On average, research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 8.79%.

Insider Buying and Selling at Merchants Bancorp

In other news, CAO Darin L. Thomas bought 3,353 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the transaction, the chief accounting officer owned 2,250 shares in the company, valued at $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 34.80% of the stock is currently owned by company insiders.

Institutional Trading of Merchants Bancorp

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its position in Merchants Bancorp by 182.2% during the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after acquiring an additional 472 shares during the last quarter. CWM LLC boosted its position in Merchants Bancorp by 168.9% during the first quarter. CWM LLC now owns 1,358 shares of the company’s stock worth $50,000 after acquiring an additional 853 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Merchants Bancorp during the third quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its position in Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Merchants Bancorp by 44.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock worth $88,000 after acquiring an additional 817 shares during the last quarter. 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.