Analysts Set Merchants Bancorp (NASDAQ:MBIN) Target Price at $40.25

Merchants Bancorp (NASDAQ:MBIN) has been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $40.25.

A number of brokerages recently commented on MBIN. Wall Street Zen raised Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Merchants Bancorp in a research note on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $42.00 price target (up previously from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $38.00 price target (down from $40.00) on shares of Merchants Bancorp in a research note on Wednesday, October 29th.

Merchants Bancorp Stock Up 4.1%

NASDAQ MBIN opened at $35.74 on Thursday. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $43.82. The stock has a market capitalization of $1.64 billion, a PE ratio of 8.22 and a beta of 1.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. The business’s 50-day moving average is $34.10 and its 200 day moving average is $33.01.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.18. The business had revenue of $171.07 million during the quarter, compared to analyst estimates of $163.90 million. Merchants Bancorp had a return on equity of 15.20% and a net margin of 17.73%. Sell-side analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, December 15th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 9.20%.

Institutional Investors Weigh In On Merchants Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBIN. Matrix Trust Co grew its position in Merchants Bancorp by 10.3% in the 2nd quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock worth $140,000 after purchasing an additional 396 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 buying an additional 449 shares during the period. Legal & General Group Plc boosted its stake in shares of Merchants Bancorp by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after buying an additional 795 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Merchants Bancorp by 3.7% in the second quarter. PNC Financial Services Group Inc. now owns 22,967 shares of the company’s stock worth $760,000 after acquiring an additional 811 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Merchants Bancorp by 44.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after acquiring an additional 817 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

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.