Merchants Bancorp (NASDAQ:MBIN) Given New $51.00 Price Target at Morgan Stanley

Merchants Bancorp (NASDAQ:MBIN) had its price target raised by investment analysts at Morgan Stanley from $42.00 to $51.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 17.57% from the company’s previous close.

Several other research firms also recently issued reports on MBIN. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.25.

Merchants Bancorp Stock Up 2.6%

Shares of MBIN stock traded up $1.10 during trading hours on Monday, reaching $43.38. 54,306 shares of the company’s stock were exchanged, compared to its average volume of 376,772. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $48.50. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market cap of $1.99 billion, a PE ratio of 11.48 and a beta of 1.27. The stock’s fifty day moving average price is $38.93 and its two-hundred day moving average price is $34.80.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Wednesday, January 28th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.35%. The company had revenue of $185.29 million during the quarter, compared to analysts’ expectations of $170.80 million. Research analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Martin A. Schroeter sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the sale, the insider owned 10,881 shares of the company’s stock, valued at $501,178.86. This trade represents a 33.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 34.80% of the company’s stock.

Institutional Trading of Merchants Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in Merchants Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after buying an additional 210,151 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Merchants Bancorp by 1,509.5% in the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock valued at $5,589,000 after purchasing an additional 164,834 shares in the last quarter. First Trust Advisors LP raised its holdings in Merchants Bancorp by 458.7% in the 4th quarter. First Trust Advisors LP now owns 141,145 shares of the company’s stock worth $4,807,000 after purchasing an additional 115,881 shares during the period. Geode Capital Management LLC boosted its position in Merchants Bancorp by 17.4% during the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock worth $22,539,000 after purchasing an additional 101,139 shares in the last quarter. Finally, Doma Perpetual Capital Management LLC acquired a new stake in Merchants Bancorp in the third quarter valued at approximately $2,984,000. 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.