Merchants Bancorp (NASDAQ:MBIN) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,534 shares of the company's stock after acquiring an additional 11,000 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Merchants Bancorp worth $2,208,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MBIN. Royce & Associates LP increased its position in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company's stock valued at $22,039,000 after acquiring an additional 288,553 shares during the period. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp in the fourth quarter valued at about $994,207,000. Valeo Financial Advisors LLC raised its stake 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 during the last quarter. State Street Corp lifted its holdings in shares of Merchants Bancorp by 4.7% during the third 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 during the period. Finally, Geode Capital Management LLC boosted its position in Merchants Bancorp by 3.0% in the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock valued at $25,476,000 after buying an additional 16,666 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 39.70% of the company's stock.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded up $0.74 during midday trading on Wednesday, hitting $39.83. 195,952 shares of the company were exchanged, compared to its average volume of 164,313. The business has a fifty day simple moving average of $39.71 and a two-hundred day simple moving average of $41.18. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market capitalization of $1.82 billion, a PE ratio of 6.31 and a beta of 1.15. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27.

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

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.10 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. Merchants Bancorp's payout ratio is 6.34%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MBIN. Raymond James restated an "outperform" rating and set a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Piper Sandler raised their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report 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.