Piper Sandler Has Lowered Expectations for Merchants Bancorp (NASDAQ:MBIN) Stock Price

Merchants Bancorp (NASDAQ:MBIN) had its price objective dropped by equities research analysts at Piper Sandler from $64.00 to $63.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 26.13% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Raymond James Financial lowered Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Zacks Research downgraded Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a report on Friday, July 31st. Finally, Morgan Stanley set a $65.00 price objective on Merchants Bancorp and gave the company an “equal weight” rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.25.

Merchants Bancorp Trading Up 0.5%

Shares of Merchants Bancorp stock opened at $49.95 on Monday. The firm’s 50 day simple moving average is $53.02 and its two-hundred day simple moving average is $49.24. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 10.03 and a beta of 1.21. Merchants Bancorp has a 12-month low of $30.37 and a 12-month high of $56.87. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.22 by $0.26. The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. Analysts predict that Merchants Bancorp will post 5.57 EPS for the current year.

Insider Activity

In other news, Director Julia Kaercher sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the transaction, the director owned 727,103 shares in the company, valued at $40,136,085.60. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 44.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Merchants Bancorp

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Merchants Bancorp in the second quarter valued at about $205,260,000. Dimensional Fund Advisors LP raised its position in shares of Merchants Bancorp by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after purchasing an additional 102,087 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Merchants Bancorp during the 2nd quarter worth about $13,687,000. Bank of New York Mellon Corp lifted its stake in Merchants Bancorp by 43.7% in the 1st quarter. Bank of New York Mellon Corp now owns 236,146 shares of the company’s stock valued at $10,133,000 after buying an additional 71,775 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Merchants Bancorp by 3.3% in the 1st quarter. Royal Bank of Canada now owns 212,852 shares of the company’s stock valued at $9,134,000 after buying an additional 6,899 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial services company headquartered in Carmel, Indiana. Through its banking subsidiary, Merchants Bank of Indiana, the company provides a range of banking and specialized finance solutions to commercial and residential customers across the United States.

The company’s primary activities include multifamily mortgage banking, mortgage warehouse lending and manufactured housing finance. Its multifamily mortgage business originates and services loans for apartment communities and other residential properties, including financing supported by government-sponsored and government-insured programs.