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Raymond James Sticks to Its Buy Rating for Merchants Bancorp (MBIN)

Raymond James analyst Daniel Tamayo maintained a Buy rating on Merchants Bancorp (MBINResearch Report) today and set a price target of $37.00. The company’s shares closed last Friday at $26.46.

According to TipRanks.com, Tamayo is a 5-star analyst with an average return of 23.5% and a 68.9% success rate. Tamayo covers the Financial sector, focusing on stocks such as First Mid-Illinois Bancshares, Farmers National Banc Oh, and First Business Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Merchants Bancorp with a $37.00 average price target.

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The company has a one-year high of $33.57 and a one-year low of $21.52. Currently, Merchants Bancorp has an average volume of 76.13K.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBIN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Merchants Bancorp (Indiana) is a bank holding company, which specializes in a multiple lines of business in banking and finance. It operates through the following segments: Multi-family Mortgage Banking; Mortgage Warehousing and Banking. The Multi-family Mortgage Banking segment engaged in mortgage banking, specializing in originating and servicing loans for multi-family rental housing and healthcare facility financing, particularly for senior living properties. The Mortgage Warehousing segment funds agency eligible loans for non-depository financial institutions from the date of origination or purchase until the date of sale to an investor. The Banking segment refers to financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; letters of credit and various types of deposit products, including checking, savings and time deposit accounts. The company was founded by Michael Petrie and Randall D. Rogers in 1990 and is headquartered in Carmel, IN.

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