Piper Sandler Forecasts Strong Price Appreciation for Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) had its price objective increased by Piper Sandler from $48.00 to $52.50 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 27.03% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley started coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price target on the stock. Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th.

Merchants Bancorp Trading Down 0.8 %

Merchants Bancorp stock opened at $41.33 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a fifty-two week low of $32.52 and a fifty-two week high of $53.27. The stock has a market cap of $1.89 billion, a P/E ratio of 6.84 and a beta of 1.12. The firm’s fifty day moving average price is $42.23 and its 200-day moving average price is $42.66.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly 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). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. During the same period in the previous year, the business earned $1.68 EPS. Equities research analysts forecast that Merchants Bancorp will post 5.77 earnings per share for the current fiscal year.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 39.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merchants Bancorp

Several institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its stake in shares of Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after purchasing an additional 126,375 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after acquiring an additional 87,012 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Merchants Bancorp by 75.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after acquiring an additional 61,292 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Merchants Bancorp during the first quarter valued at about $587,000. Finally, Royce & Associates LP raised its stake in shares of Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after acquiring an additional 288,553 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

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.