Merchants Bancorp (NASDAQ:MBIN) Lowered to “Outperform” at Raymond James

Raymond James downgraded shares of Merchants Bancorp (NASDAQ:MBIN) from a strong-buy rating to an outperform rating in a research report report published on Tuesday, MarketBeat reports. Raymond James currently has $58.00 price objective on the stock, up from their prior price objective of $55.00.

Separately, Piper Sandler reaffirmed an overweight rating and set a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $40.81 on Tuesday. Merchants Bancorp has a 1-year low of $25.78 and a 1-year high of $53.27. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $42.63 and a 200 day simple moving average of $42.12. The stock has a market capitalization of $1.77 billion, a PE ratio of 6.41 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The firm had revenue of $359.62 million during the quarter, compared to the consensus estimate of $160.70 million. During the same period in the prior year, the business posted $1.31 earnings per share. On average, research analysts expect that Merchants Bancorp will post 6.22 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Insiders Place Their Bets

In other Merchants Bancorp news, CEO Michael R. Dury bought 6,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, July 31st. The stock was bought at an average price of $44.82 per share, with a total value of $268,920.00. Following the completion of the transaction, the chief executive officer now owns 88,593 shares in the company, valued at approximately $3,970,738.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.70% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors have recently modified their holdings of the business. Jackson Creek Investment Advisors LLC bought a new stake in shares of Merchants Bancorp in the second quarter valued at about $1,060,000. Rhumbline Advisers boosted its position in shares of Merchants Bancorp by 11.8% in the second quarter. Rhumbline Advisers now owns 28,124 shares of the company’s stock valued at $1,140,000 after acquiring an additional 2,971 shares during the period. nVerses Capital LLC boosted its position in shares of Merchants Bancorp by 650.0% in the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after acquiring an additional 1,300 shares during the period. Principal Financial Group Inc. boosted its position in shares of Merchants Bancorp by 11.7% in the second quarter. Principal Financial Group Inc. now owns 15,108 shares of the company’s stock valued at $612,000 after acquiring an additional 1,580 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. boosted its position in shares of Merchants Bancorp by 92.0% in the second quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,602 shares of the company’s stock valued at $2,538,000 after acquiring an additional 30,000 shares during the period. Institutional investors own 24.57% of the company’s stock.

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.