Merchants Bancorp (NASDAQ:MBIN) Stock Price Down 2.9% – Here’s What Happened

Merchants Bancorp (NASDAQ:MBIN) shares fell 2.9% during trading on Monday . The stock traded as low as $34.75 and last traded at $34.84. 88,670 shares were traded during trading, a decline of 45% from the average session volume of 161,617 shares. The stock had previously closed at $35.87.

Wall Street Analyst Weigh In

MBIN has been the topic of a number of research reports. Weiss Ratings restated 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 from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and set a $42.00 price target (up from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a research note on Thursday, October 30th. Finally, Wall Street Zen raised shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.25.

Merchants Bancorp Trading Down 2.9%

The business has a fifty day moving average price of $33.63 and a two-hundred day moving average price of $32.97. 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 firm has a market capitalization of $1.60 billion, a PE ratio of 8.01 and a beta of 1.25.

Merchants Bancorp (NASDAQ:MBIN) last posted its 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. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%. The company had revenue of $171.07 million for the quarter, compared to analysts’ expectations of $163.90 million. Analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

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

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds have recently bought and sold shares of the company. Elser Financial Planning Inc purchased a new stake in Merchants Bancorp during the second quarter worth about $934,497,000. Millennium Management LLC grew its holdings in shares of 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 purchasing an additional 210,151 shares in the last quarter. Two Sigma Investments LP increased its stake in Merchants Bancorp by 1,509.5% during the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock worth $5,589,000 after buying an additional 164,834 shares during the period. Geode Capital Management LLC increased its stake in Merchants Bancorp by 17.4% during the 2nd 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, Doma Perpetual Capital Management LLC acquired a new stake in Merchants Bancorp during the 3rd quarter worth approximately $2,984,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

About Merchants Bancorp

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.