Shares of Merchants Bancorp (NASDAQ:MBIN – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $51.00 and last traded at $49.7560, with a volume of 4955 shares traded. The stock had previously closed at $48.92.
Analyst Ratings Changes
Several brokerages have issued reports on MBIN. Morgan Stanley lifted their price target on shares of Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Raymond James Financial restated an “outperform” rating and issued a $51.00 price objective on shares of Merchants Bancorp in a report on Thursday, April 30th. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.
Get Our Latest Stock Report on MBIN
Merchants Bancorp Stock Up 1.1%
Merchants Bancorp (NASDAQ:MBIN – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. The business had revenue of $175.25 million during the quarter, compared to the consensus estimate of $174.30 million. Sell-side analysts anticipate that Merchants Bancorp will post 5.21 earnings per share for the current fiscal year.
Merchants Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Merchants Bancorp’s dividend payout ratio is presently 10.73%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of MBIN. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Merchants Bancorp during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its position in Merchants Bancorp by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after buying an additional 1,153 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Merchants Bancorp during the first quarter worth $215,000. Fifth Third Bancorp acquired a new stake in shares of Merchants Bancorp during the first quarter worth $270,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Merchants Bancorp in the first quarter valued at about $287,000. 24.57% of the stock is owned by institutional investors.
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.
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