Endeavour Capital Advisors Inc. purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 96,224 shares of the company's stock, valued at approximately $3,509,000. Merchants Bancorp comprises 1.1% of Endeavour Capital Advisors Inc.'s portfolio, making the stock its 25th largest holding. Endeavour Capital Advisors Inc. owned 0.21% of Merchants Bancorp at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elser Financial Planning Inc bought a new stake in Merchants Bancorp in the fourth quarter valued at approximately $994,207,000. Valeo Financial Advisors LLC lifted its position in shares of Merchants Bancorp by 3.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock worth $8,221,000 after purchasing an additional 6,882 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock worth $25,476,000 after purchasing an additional 16,666 shares during the last quarter. State Street Corp grew its position in Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company's stock valued at $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Barclays PLC increased its stake in Merchants Bancorp by 351.8% in the 3rd quarter. Barclays PLC now owns 28,312 shares of the company's stock valued at $1,273,000 after buying an additional 22,046 shares during the last quarter. 24.57% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MBIN. Morgan Stanley decreased their price objective on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Raymond James lowered their price target on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Piper Sandler upped their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research report on Thursday, January 30th.
Check Out Our Latest Stock Report on Merchants Bancorp
Merchants Bancorp Stock Performance
NASDAQ MBIN traded down $1.12 during trading on Monday, reaching $32.32. 121,850 shares of the company's stock were exchanged, compared to its average volume of 187,265. Merchants Bancorp has a fifty-two week low of $31.50 and a fifty-two week high of $53.27. The stock has a market capitalization of $1.48 billion, a P/E ratio of 5.16 and a beta of 1.15. The business has a 50 day moving average price of $39.87 and a 200-day moving average price of $40.05. 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 (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Sell-side analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.
Merchants Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio (DPR) is currently 6.34%.
Insider Buying and Selling
In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction that occurred 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 directly owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 39.70% of the stock is currently owned by insiders.
Merchants Bancorp Profile
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Free Report)
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.
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