Morgan Stanley Initiates Coverage on Merchants Bancorp (NASDAQ:MBIN)

Research analysts at Morgan Stanley assumed coverage on shares of Merchants Bancorp (NASDAQ:MBIN) in a research report issued on Monday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $54.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 25.61% from the stock’s previous close.

MBIN has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $56.00 target price (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James lowered shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a research report on Tuesday, July 30th.

Merchants Bancorp Trading Up 1.3 %

NASDAQ MBIN opened at $42.99 on Monday. The company has a fifty day simple moving average of $44.32 and a two-hundred day simple moving average of $42.41. The stock has a market cap of $1.97 billion, a P/E ratio of 6.75 and a beta of 1.10. Merchants Bancorp has a 12-month low of $25.78 and a 12-month high of $53.27. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The business had revenue of $359.62 million for the quarter, compared to analysts’ expectations of $160.70 million. During the same period last year, the business earned $1.31 EPS. On average, analysts forecast that Merchants Bancorp will post 6.21 earnings per share for the current year.

Insiders Place Their Bets

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Merchants Bancorp news, CEO Michael R. Dury purchased 5,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the purchase, the chief executive officer now directly owns 93,793 shares in the company, valued at $3,630,727.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Merchants Bancorp

Large investors have recently bought and sold shares of the company. nVerses Capital LLC increased its holdings in shares of Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after purchasing an additional 1,300 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after purchasing an additional 1,412 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Merchants Bancorp by 79.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares in the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Merchants Bancorp in the 1st quarter valued at about $202,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Merchants Bancorp in the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

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.