Harbor Advisors LLC Acquires New Position in Merchants Bancorp (NASDAQ:MBIN)

Harbor Advisors LLC purchased a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,232 shares of the company's stock, valued at approximately $738,000.

A number of other large investors have also recently bought and sold shares of MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at $994,207,000. PL Capital Advisors LLC raised its position in shares of Merchants Bancorp by 3,547.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company's stock valued at $250,442,000 after buying an additional 6,678,788 shares during the last quarter. Geode Capital Management LLC grew its stake in Merchants Bancorp by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock valued at $25,476,000 after acquiring an additional 16,666 shares in the last quarter. Royce & Associates LP lifted its position in Merchants Bancorp by 15.5% during the fourth quarter. Royce & Associates LP now owns 566,245 shares of the company's stock worth $20,651,000 after buying an additional 76,056 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Merchants Bancorp by 11.5% during the 4th quarter. American Century Companies Inc. now owns 474,904 shares of the company's stock valued at $17,320,000 after acquiring an additional 48,881 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Merchants Bancorp Stock Up 0.1 %

Shares of MBIN stock traded up $0.04 on Thursday, reaching $38.00. 437,743 shares of the stock were exchanged, compared to its average volume of 176,490. Merchants Bancorp has a twelve month low of $34.16 and a twelve month high of $53.27. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 6.02 and a beta of 1.16. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The business's 50 day moving average price is $40.25 and its 200 day moving average price is $40.45.

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Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.10 per share. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, March 14th. Merchants Bancorp's dividend payout ratio (DPR) is presently 6.34%.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 39.70% of the company's stock.

Analysts Set New Price Targets

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

About Merchants Bancorp

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.