Denali Advisors LLC Raises Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Denali Advisors LLC lifted its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 18.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,606 shares of the company's stock after buying an additional 27,817 shares during the period. Denali Advisors LLC owned approximately 0.40% of Merchants Bancorp worth $6,660,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Merchants Bancorp by 3.7% during the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company's stock worth $573,000 after buying an additional 456 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company's stock worth $240,000 after purchasing an additional 460 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Merchants Bancorp during the fourth quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Merchants Bancorp by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company's stock valued at $914,000 after buying an additional 1,099 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Merchants Bancorp by 4.4% in the fourth quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock valued at $1,049,000 after buying an additional 1,201 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MBIN. Raymond James reaffirmed an "outperform" rating and issued a $53.00 target price (up from $50.00) on shares of Merchants Bancorp in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research note on Thursday, January 30th.

Insider Buying and Selling at Merchants Bancorp

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

Merchants Bancorp Price Performance

Shares of MBIN traded down $0.07 during mid-day trading on Friday, reaching $40.72. 178,700 shares of the company's stock were exchanged, compared to its average volume of 162,518. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a 50-day simple moving average of $39.50 and a two-hundred day simple moving average of $41.23. Merchants Bancorp has a 52-week low of $34.16 and a 52-week high of $53.27. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 6.45 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 0.98%. The ex-dividend date is Friday, March 14th. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio (DPR) is 6.34%.

Merchants Bancorp Company 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.