Merchants Bancorp (NASDAQ:MBIN) Given New $52.50 Price Target at Piper Sandler

Merchants Bancorp (NASDAQ:MBIN) had its target price upped by stock analysts at Piper Sandler from $48.00 to $52.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 26.75% from the company’s current price.

A number of other research analysts have also recently weighed in on MBIN. Morgan Stanley started coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock. Raymond James lowered their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $41.42 on Tuesday. Merchants Bancorp has a 52-week low of $32.52 and a 52-week high of $53.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm’s 50-day moving average price is $42.40 and its 200-day moving average price is $42.71. The company has a market cap of $1.90 billion, a PE ratio of 6.86 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The business had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the previous year, the business posted $1.68 EPS. As a group, analysts anticipate that Merchants Bancorp will post 5.77 EPS for the current year.

Insider Buying and Selling at Merchants Bancorp

In related news, Director Patrick D. O’brien acquired 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 39.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

Several large investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Merchants Bancorp by 351.8% during the 3rd quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after buying an additional 22,046 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in shares of Merchants Bancorp during the 3rd quarter valued at approximately $202,000. Geode Capital Management LLC grew its holdings in shares of Merchants Bancorp by 3.0% in the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after purchasing an additional 16,666 shares in the last quarter. State Street Corp grew its holdings in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Banc Funds Co. LLC increased its position in Merchants Bancorp by 3.3% in the third quarter. Banc Funds Co. LLC now owns 389,615 shares of the company’s stock worth $17,517,000 after purchasing an additional 12,500 shares during 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.