Charles Schwab Investment Management Inc. Cuts Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Charles Schwab Investment Management Inc. trimmed its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 207,282 shares of the company's stock after selling 26,200 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.45% of Merchants Bancorp worth $7,560,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MBIN. Elser Financial Planning Inc purchased a new position in Merchants Bancorp during the 4th quarter worth $994,207,000. Valeo Financial Advisors LLC grew its stake in shares of Merchants Bancorp by 3.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock worth $8,221,000 after acquiring an additional 6,882 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Merchants Bancorp by 3.0% during the third 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. State Street Corp boosted its stake in Merchants Bancorp by 4.7% in the 3rd quarter. State Street Corp now owns 448,525 shares of the company's stock worth $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Barclays PLC grew its position in Merchants Bancorp by 351.8% during the 3rd quarter. Barclays PLC now owns 28,312 shares of the company's stock worth $1,273,000 after purchasing an additional 22,046 shares during the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

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Merchants Bancorp Stock Performance

Shares of MBIN stock traded up $0.04 on Thursday, hitting $38.00. The company had a trading volume of 437,743 shares, compared to its average volume of 176,518. The firm has a market cap of $1.74 billion, a P/E ratio of 6.02 and a beta of 1.16. Merchants Bancorp has a twelve month low of $34.16 and a twelve month high of $53.27. The company has a 50-day moving average price of $40.25 and a 200-day moving average price of $40.45. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping the consensus estimate 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 predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is currently 6.34%.

Analyst Ratings Changes

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

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction 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 filing with the SEC, which is available at the SEC website. 39.70% of the stock is owned by corporate insiders.

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.