Invesco Ltd. reduced its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 471,430 shares of the company's stock after selling 93,605 shares during the period. Invesco Ltd. owned approximately 1.03% of Merchants Bancorp worth $17,193,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Elser Financial Planning Inc bought a new position in Merchants Bancorp during the 4th quarter valued at $994,207,000. Valeo Financial Advisors LLC lifted its position 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 purchasing an additional 6,882 shares during the last quarter. Geode Capital Management LLC grew its stake in Merchants Bancorp by 3.0% in 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 in the last quarter. State Street Corp increased its holdings 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 buying an additional 20,214 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Merchants Bancorp by 85.3% in the third quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock valued at $1,504,000 after buying an additional 15,342 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 34.80% of the company's stock.
Merchants Bancorp Stock Performance
NASDAQ MBIN traded down $0.61 during trading hours on Friday, reaching $32.31. The company's stock had a trading volume of 8,769 shares, compared to its average volume of 190,743. 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 50-day simple moving average of $36.81 and a 200 day simple moving average of $38.84. Merchants Bancorp has a 52 week low of $30.73 and a 52 week high of $53.27. The stock has a market cap of $1.48 billion, a PE ratio of 5.12 and a beta of 1.15.
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (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%. Equities research analysts predict 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. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 14th. Merchants Bancorp's dividend payout ratio (DPR) is presently 6.34%.
Wall Street Analyst Weigh In
MBIN has been the topic of a number of research analyst reports. Piper Sandler increased their target price on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Raymond James reduced their price objective on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lowered their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th.
Check Out Our Latest Analysis on Merchants Bancorp
Merchants Bancorp Profile
(
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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