Merchants Bancorp price target raised to $53 from $50 at Raymond James

Raymond James raised the firm’s price target on Merchants Bancorp (MBIN) to $53 from $50 and keeps an Outperform rating on the shares. Core trends were mainly favorable for Merchants in Q4, highlighted by robust fees and a stronger net interest margin while optimism on credit remains despite increased early-stage balances, the analyst tells investors in a research note.