Merchants Bancorp (NASDAQ:MBIN) Sets New 1-Year Low – What’s Next?

Shares of Merchants Bancorp (NASDAQ:MBIN) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.24 and last traded at $35.50, with a volume of 163689 shares changing hands. The stock had previously closed at $35.86.

Wall Street Analyst Weigh In

Several brokerages have commented on MBIN. Raymond James dropped their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Piper Sandler raised their price target on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th.

Merchants Bancorp Trading Down 2.1 %

The business’s 50-day moving average is $38.44 and its two-hundred day moving average is $41.92. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $1.59 billion, a PE ratio of 5.75 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). The company 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 company earned $1.68 EPS. On average, analysts predict that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

Large investors have recently modified their holdings of the business. CWM LLC boosted its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Merchants Bancorp during the 3rd quarter valued at approximately $162,000. FMR LLC grew its position in shares of Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after buying an additional 1,412 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in Merchants Bancorp in the third quarter valued at $202,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.