Merchants Bancorp (NASDAQ:MBIN) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,802 shares of the company's stock after purchasing an additional 13,078 shares during the period. Bank of New York Mellon Corp owned 0.31% of Merchants Bancorp worth $5,244,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust acquired a new position in shares of Merchants Bancorp during the 4th quarter valued at about $82,000. New York State Common Retirement Fund increased its position in Merchants Bancorp by 22.2% during the fourth quarter. New York State Common Retirement Fund now owns 60,534 shares of the company's stock worth $2,208,000 after purchasing an additional 11,000 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Merchants Bancorp during the fourth quarter worth approximately $25,000. Rhumbline Advisers boosted its holdings in shares of Merchants Bancorp by 4.4% in the 4th quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock valued at $1,049,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Merchants Bancorp by 3.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock valued at $8,221,000 after purchasing an additional 6,882 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on MBIN shares. Piper Sandler increased their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Raymond James reiterated an "outperform" rating and issued a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a report on Thursday, January 30th. Finally, Morgan Stanley lowered their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th.

Insider Buying and Selling

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the sale, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.70% of the stock is currently owned by company insiders.

Merchants Bancorp Stock Down 1.9 %

Shares of NASDAQ:MBIN traded down $0.75 during midday trading on Friday, reaching $38.17. The company had a trading volume of 175,145 shares, compared to its average volume of 175,330. The stock has a market capitalization of $1.75 billion, a P/E ratio of 6.05 and a beta of 1.16. The stock's fifty day moving average price is $40.06 and its 200-day moving average price is $40.66. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a one year low of $34.16 and a one year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp's payout ratio is 6.34%.

Merchants Bancorp Profile

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.