Merchants Bancorp (NASDAQ:MBIN) Sets New 52-Week High – Here’s What Happened

Merchants Bancorp (NASDAQ:MBIN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $51.00 and last traded at $49.7560, with a volume of 4955 shares trading hands. The stock had previously closed at $48.92.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Piper Sandler reiterated an “overweight” rating and issued a $58.00 target price on shares of Merchants Bancorp in a report on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $51.00 target price on shares of Merchants Bancorp in a report on Thursday, April 30th. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Merchants Bancorp Price Performance

The company has a market capitalization of $2.27 billion, a PE ratio of 12.08 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 2.68. The stock has a fifty day simple moving average of $46.78 and a 200-day simple moving average of $41.49.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, April 28th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The business had revenue of $175.25 million for the quarter, compared to analysts’ expectations of $174.30 million. Equities analysts anticipate that Merchants Bancorp will post 5.21 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 annualized dividend and a yield of 0.9%. Merchants Bancorp’s payout ratio is 10.73%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MBIN. Royal Bank of Canada increased its position in Merchants Bancorp by 1.0% during the first quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock worth $8,146,000 after buying an additional 2,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after acquiring an additional 449 shares during the last quarter. Jane Street Group LLC raised its stake in Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock valued at $1,216,000 after acquiring an additional 12,361 shares during the last quarter. Legal & General Group Plc raised its stake in Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after acquiring an additional 795 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Merchants Bancorp by 41.5% during the 2nd quarter. Rhumbline Advisers now owns 38,622 shares of the company’s stock valued at $1,277,000 after acquiring an additional 11,334 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.