Merchants Bancorp (NASDAQ:MBIN) Lowered to “Outperform” at Raymond James

Raymond James downgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a strong-buy rating to an outperform rating in a report published on Tuesday, Marketbeat reports. They currently have $58.00 price objective on the stock, up from their previous price objective of $55.00.

Separately, Piper Sandler reaffirmed an overweight rating and set a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th.

Merchants Bancorp Stock Down 4.8 %

MBIN stock opened at $40.81 on Tuesday. Merchants Bancorp has a 52-week low of $25.78 and a 52-week high of $53.27. The company’s 50 day simple moving average is $42.63 and its 200-day simple moving average is $42.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.81. The firm has a market capitalization of $1.77 billion, a P/E ratio of 6.41 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The firm had revenue of $359.62 million for the quarter, compared to analyst estimates of $160.70 million. During the same quarter in the prior year, the firm earned $1.31 EPS. As a group, equities research analysts anticipate that Merchants Bancorp will post 6.22 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, June 14th. Merchants Bancorp’s payout ratio is presently 5.65%.

Insider Activity at Merchants Bancorp

In related news, CEO Michael R. Dury acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average cost of $44.82 per share, with a total value of $268,920.00. Following the completion of the transaction, the chief executive officer now owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 39.70% of the stock is currently owned by insiders.

Institutional Trading of Merchants Bancorp

Several large investors have recently added to or reduced their stakes in MBIN. MeadowBrook Investment Advisors LLC bought a new stake in Merchants Bancorp in the fourth quarter worth approximately $26,000. nVerses Capital LLC grew its position in Merchants Bancorp by 650.0% in the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,300 shares in the last quarter. AJOVista LLC bought a new stake in Merchants Bancorp in the fourth quarter worth approximately $86,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock worth $193,000 after acquiring an additional 2,101 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Merchants Bancorp by 45.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,648 shares of the company’s stock worth $198,000 after acquiring an additional 1,463 shares in the last quarter. 24.57% of the stock is owned by 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.