Merchants Bancorp (NASDAQ:MBIN) Earns “Strong-Buy” Rating from Raymond James

Merchants Bancorp (NASDAQ:MBINGet Free Report)‘s stock had its “strong-buy” rating reissued by equities research analysts at Raymond James in a report issued on Wednesday, Benzinga reports. They currently have a $55.00 price target on the stock. Raymond James’ target price would suggest a potential upside of 28.53% from the stock’s current price.

Separately, Piper Sandler reiterated an “overweight” rating and issued a $58.50 price target (up previously from $53.00) on shares of Merchants Bancorp in a research note on Friday, May 3rd.

Read Our Latest Research Report on Merchants Bancorp

Merchants Bancorp Stock Up 0.4 %

MBIN stock traded up $0.17 during mid-day trading on Wednesday, hitting $42.79. 185,938 shares of the company were exchanged, compared to its average volume of 146,483. The company has a market capitalization of $1.85 billion, a PE ratio of 6.73 and a beta of 1.17. The firm has a fifty day simple moving average of $41.90 and a 200 day simple moving average of $39.84. Merchants Bancorp has a twelve month low of $22.70 and a twelve month high of $48.68. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 1.44.

Merchants Bancorp (NASDAQ:MBINGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a return on equity of 26.65% and a net margin of 23.55%. The business had revenue of $355.05 million for the quarter, compared to the consensus estimate of $144.15 million. On average, research analysts forecast that Merchants Bancorp will post 6.6 earnings per share for the current fiscal year.

Institutional Trading of Merchants Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBIN. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Merchants Bancorp during the 4th quarter valued at $26,000. AJOVista LLC acquired a new position in Merchants Bancorp in the 4th quarter valued at about $86,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Merchants Bancorp by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,648 shares of the company’s stock valued at $198,000 after acquiring an additional 1,463 shares in the last quarter. Wellington Wealth Strategies LLC. purchased a new stake in Merchants Bancorp during the 1st quarter worth about $202,000. Finally, Arizona State Retirement System acquired a new stake in Merchants Bancorp in the fourth quarter valued at $206,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

About Merchants Bancorp

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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.

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