Merchants Bancorp (NASDAQ:MBIN) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,942 shares of the company's stock after buying an additional 56,514 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Merchants Bancorp worth $10,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Elser Financial Planning Inc purchased a new stake in shares of Merchants Bancorp during the 4th quarter worth $994,207,000. PL Capital Advisors LLC lifted its stake 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 purchasing an additional 6,678,788 shares during the period. Moran Wealth Management LLC purchased a new stake in Merchants Bancorp during the fourth quarter worth about $3,524,000. Royce & Associates LP grew 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 during the period. Finally, Raymond James Financial Inc. purchased a new position in Merchants Bancorp in the fourth quarter valued at about $2,095,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Price Performance

Shares of MBIN stock traded up $0.47 during trading hours on Friday, hitting $32.52. The company's stock had a trading volume of 96,172 shares, compared to its average volume of 190,652. 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 has a fifty day moving average of $37.66 and a 200-day moving average of $39.13. Merchants Bancorp has a twelve month low of $31.06 and a twelve month high of $53.27. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 5.15 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 EPS 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%. As a group, equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. 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%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MBIN shares. Piper Sandler boosted their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James lowered their target price on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp 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 transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares of the company's stock, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 34.80% of the stock is currently owned by corporate insiders.

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.