Merchants Bancorp (NASDAQ:MBIN) Stock Has Average Target Price of $55.25

Shares of Merchants Bancorp (NASDAQ:MBIN) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $55.25.

Several brokerages have weighed in on MBIN. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Morgan Stanley set a $65.00 price target on shares of Merchants Bancorp and gave the company an “equal weight” rating in a research note on Tuesday, September 8th. Zacks Research downgraded shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Piper Sandler lowered their price target on Merchants Bancorp from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Finally, Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st.

Insider Activity

In related news, Director Julia Kaercher sold 9,000 shares of Merchants Bancorp stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the completion of the transaction, the director directly owned 727,103 shares in the company, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its position in shares of Merchants Bancorp by 66.8% in the 3rd quarter. Sterling Capital Management LLC now owns 609 shares of the company’s stock valued at $30,000 after purchasing an additional 244 shares during the last quarter. USA Financial Formulas acquired a new stake in Merchants Bancorp in the third quarter valued at $69,000. NBH Bank purchased a new stake in Merchants Bancorp during the 2nd quarter worth about $113,000. Gamco Investors INC. ET AL purchased a new stake in Merchants Bancorp during the 1st quarter worth about $215,000. Finally, Fifth Third Bancorp acquired a new position in shares of Merchants Bancorp during the 1st quarter worth about $270,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Down 0.2%

MBIN stock opened at $48.97 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average of $51.42 and a two-hundred day moving average of $49.73. Merchants Bancorp has a 12 month low of $30.37 and a 12 month high of $56.87. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 9.83 and a beta of 1.21.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. As a group, analysts forecast that Merchants Bancorp will post 5.57 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio is presently 8.84%.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Through its principal subsidiary, Merchants Bank of Indiana, the company provides banking, mortgage banking and healthcare finance services to businesses, institutions and other clients.

The company’s mortgage banking operations offer financing and related services for multifamily and healthcare properties, including loans for apartment communities, senior housing and other specialized real estate.