Merchants Bancorp (NASDAQ:MBIN) Price Target Raised to $42.00

Merchants Bancorp (NASDAQ:MBIN) had its target price increased by Morgan Stanley from $40.00 to $42.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a report on Monday, December 29th. Raymond James Financial reiterated an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target (up from $41.00) on shares of Merchants Bancorp in a report on Thursday, October 30th. Finally, Zacks Research raised shares of Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.00.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $41.46 on Friday. The company has a 50 day moving average of $34.89 and a 200-day moving average of $33.09. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $43.77. 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 company has a market cap of $1.90 billion, a PE ratio of 10.97 and a beta of 1.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.35%. The business had revenue of $193.49 million during the quarter, compared to the consensus estimate of $170.80 million. As a group, equities research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Merchants Bancorp’s payout ratio is currently 10.58%.

Merchants Bancorp announced that its board has authorized 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 repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors have recently made changes to their positions in MBIN. Inspire Investing LLC bought a new stake in Merchants Bancorp in the second quarter valued at approximately $390,000. American Century Companies Inc. lifted its position in shares of Merchants Bancorp by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 567,980 shares of the company’s stock worth $18,783,000 after purchasing an additional 55,038 shares during the period. Ballast Asset Management LP bought a new stake in shares of Merchants Bancorp in the 2nd quarter valued at $2,529,000. Geode Capital Management LLC increased its position in shares of 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 buying an additional 101,139 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Merchants Bancorp by 4.9% during the second quarter. Valeo Financial Advisors LLC now owns 236,425 shares of the company’s stock worth $7,819,000 after buying an additional 10,998 shares during the last quarter. Institutional investors 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.