Merchants Bancorp (NASDAQ:MBIN) Rating Reiterated by Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Merchants Bancorp (NASDAQ:MBIN) in a research report report published on Friday, Benzinga reports. Piper Sandler currently has a $58.50 price objective on the stock, up from their previous price objective of $53.00.

Separately, Raymond James increased their price objective on Merchants Bancorp from $44.00 to $55.00 and gave the stock a strong-buy rating in a report on Tuesday, January 30th.

Merchants Bancorp Stock Up 2.1 %

NASDAQ:MBIN traded up $0.96 during trading hours on Friday, hitting $46.83. 224,282 shares of the company’s stock traded hands, compared to its average volume of 128,218. The stock’s fifty day moving average price is $41.29 and its two-hundred day moving average price is $38.87. The firm has a market cap of $2.03 billion, a P/E ratio of 7.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.99. Merchants Bancorp has a twelve month low of $22.18 and a twelve month high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, April 29th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a net margin of 23.55% and a return on equity of 27.51%. The company had revenue of $355.05 million during the quarter, compared to analyst estimates of $144.15 million. On average, research analysts expect that Merchants Bancorp will post 6.02 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.08. Merchants Bancorp’s payout ratio is currently 5.65%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of Merchants Bancorp by 42,253.6% during the fourth quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock worth $9,252,000 after buying an additional 216,761 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Merchants Bancorp by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock valued at $33,869,000 after purchasing an additional 102,051 shares during the period. Sapient Capital LLC acquired a new stake in Merchants Bancorp in the 4th quarter worth $3,414,000. Assenagon Asset Management S.A. lifted its stake in shares of Merchants Bancorp by 129.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 126,877 shares of the company’s stock valued at $5,402,000 after buying an additional 71,632 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Merchants Bancorp during the fourth quarter worth about $2,658,000. 24.57% of the stock is owned by institutional investors.

About Merchants Bancorp

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.