Merchants Bancorp price target raised to $55 from $47 at Piper Sandler

Piper Sandler analyst Nathan Rice raised the firm’s price target on Merchants Bancorp to $55 from $47 and keeps an Overweight rating on the shares. While shares have substantially appreciated over the past year, the firm anticipates additional outperformance as Merchants Bancorp continues to deliver top tier returns and generate superior TBV growth.