1 day Ago By ABMN Staff
Merchants Bancorp ( NASDAQ:MBIN – Get Free Report )’s stock price hit a new 52-week low on Friday . The stock traded as low as $35.50 and last traded at $36.
12, with a volume of 12266 shares. The stock had previously closed at $36.00.
Analysts Set New Price Targets A number of research analysts recently commented on the stock. Piper Sandler increased their target price on shares of Merchants Bancorp from $48.00 to $52.
50 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Raymond James dropped their price objective on Merchants Bancorp from $58.00 to $55.
00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Morgan Stanley started coverage on Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.
00 target price for the company. Get Our Latest Stock Analysis on MBIN Merchants Bancorp Trading Up 2.1 % Merchants Bancorp ( NASDAQ:MBIN – Get Free Report ) last issued its quarterly earnings data on Monday, October 28th.
The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.
25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.
36%. The business had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.
13 million. During the same period in the previous year, the company posted $1.68 earnings per share.
Analysts forecast that Merchants Bancorp will post 5.74 EPS for the current year. Merchants Bancorp Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd.
Investors of record on Friday, December 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, December 13th.
This represents a $0.36 annualized dividend and a dividend yield of 0.98%.
Merchants Bancorp’s dividend payout ratio is currently 5.96%. Insider Activity at Merchants Bancorp In other news, Director Patrick D.
O’brien bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, with a total value of $1,000,000.
00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their position.
The acquisition was disclosed in a legal filing with the SEC, which is available through this link . 39.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Merchants Bancorp Hedge funds have recently modified their holdings of the company. CWM LLC lifted its stake in shares of Merchants Bancorp by 209.4% during the third quarter.
CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after buying an additional 869 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Merchants Bancorp in the 3rd quarter valued at $162,000. Point72 Asset Management L.
P. lifted its stake in shares of Merchants Bancorp by 54.3% during the 2nd quarter.
Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after purchasing an additional 1,412 shares during the period.
FMR LLC boosted its holdings in shares of Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after purchasing an additional 2,699 shares during the last quarter.
Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the period.
24.57% of the stock is owned by institutional investors and hedge funds. Merchants Bancorp Company Profile ( Get Free Report ) 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. Recommended Stories Receive News & Ratings for Merchants Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merchants Bancorp and related companies with MarketBeat.
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