PL Capital Advisors LLC Has $250.44 Million Stake in Merchants Bancorp (NASDAQ:MBIN)

PL Capital Advisors LLC increased its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 3,547.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,867,082 shares of the company's stock after buying an additional 6,678,788 shares during the quarter. Merchants Bancorp comprises approximately 2.9% of PL Capital Advisors LLC's holdings, making the stock its 11th largest position. PL Capital Advisors LLC owned approximately 15.01% of Merchants Bancorp worth $250,442,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Merchants Bancorp by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 143,802 shares of the company's stock valued at $5,244,000 after purchasing an additional 13,078 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of Merchants Bancorp during the fourth quarter valued at $82,000. New York State Common Retirement Fund lifted its holdings in shares of Merchants Bancorp by 22.2% during the fourth quarter. New York State Common Retirement Fund now owns 60,534 shares of the company's stock valued at $2,208,000 after purchasing an additional 11,000 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Merchants Bancorp during the fourth quarter valued at $25,000. Finally, Rhumbline Advisers lifted its holdings in shares of Merchants Bancorp by 4.4% during the fourth quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock valued at $1,049,000 after purchasing an additional 1,201 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Merchants Bancorp Stock Down 0.2 %

Merchants Bancorp stock traded down $0.07 during mid-day trading on Friday, hitting $40.72. The company's stock had a trading volume of 178,700 shares, compared to its average volume of 162,518. The firm's 50 day moving average is $39.50 and its 200 day moving average is $41.23. The company has a market cap of $1.86 billion, a PE ratio of 6.45 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a 52-week low of $34.16 and a 52-week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts anticipate 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. Investors of record on Friday, March 14th will be paid a $0.10 dividend. 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 0.98%. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp's dividend payout ratio is currently 6.34%.

Insider Buying and Selling

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the company's stock in a transaction dated 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 directly owns 27,606 shares of the company's stock, valued at $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 39.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th. Raymond James reaffirmed an "outperform" rating and set a $53.00 target price (up from $50.00) on shares of Merchants Bancorp 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.