Merchants Bancorp (NASDAQ:MBIN) Hits New 1-Year High – What’s Next?

Shares of Merchants Bancorp (NASDAQ:MBIN) reached a new 52-week high during trading on Monday . The company traded as high as $57.65 and last traded at $52.4060, with a volume of 183 shares traded. The stock had previously closed at $52.07.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MBIN shares. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Zacks Research raised shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Raymond James Financial lowered shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley set a $65.00 price objective on shares of Merchants Bancorp and gave the company an “equal weight” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.50.

Merchants Bancorp Price Performance

The stock has a market cap of $2.40 billion, a PE ratio of 10.56 and a beta of 1.14. The stock’s fifty day moving average is $52.50 and its 200-day moving average is $48.50. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.26. The business had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. As a group, equities analysts anticipate that Merchants Bancorp will post 5.58 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Merchants Bancorp’s payout ratio is 8.84%.

Insider Activity at Merchants Bancorp

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

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NBH Bank purchased a new stake in Merchants Bancorp during the second quarter worth about $113,000. Capstone Investment Advisors LLC purchased a new stake in Merchants Bancorp during the 2nd quarter worth approximately $951,000. Bank of America Corp DE acquired a new stake in Merchants Bancorp during the 2nd quarter worth approximately $6,057,000. Basswood Capital Management L.L.C. purchased a new position in Merchants Bancorp in the 2nd quarter valued at approximately $13,687,000. Finally, Jupiter Topco LLC acquired a new position in shares of Merchants Bancorp in the second quarter worth $354,000. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.