Raymond James Financial Inc. Makes New $2.10 Million Investment in Merchants Bancorp (NASDAQ:MBIN)

Raymond James Financial Inc. bought a new stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 57,433 shares of the company's stock, valued at approximately $2,095,000. Raymond James Financial Inc. owned approximately 0.13% of Merchants Bancorp at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MBIN. Elser Financial Planning Inc acquired a new stake in shares of Merchants Bancorp in the 4th quarter worth approximately $994,207,000. Valeo Financial Advisors LLC lifted its position in 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 period. Geode Capital Management LLC lifted 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 worth $25,476,000 after purchasing an additional 16,666 shares during the period. State Street Corp boosted its stake in Merchants Bancorp by 4.7% during the 3rd quarter. State Street Corp now owns 448,525 shares of the company's stock valued at $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Merchants Bancorp by 85.3% during the 3rd quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock valued at $1,504,000 after purchasing an additional 15,342 shares during the period. Institutional investors and hedge funds own 24.57% of the company's stock.

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Wall Street Analysts Forecast Growth

MBIN has been the subject of several research analyst reports. Raymond James cut their price objective on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday. Morgan Stanley cut their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler lifted their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research note on Thursday, January 30th.

Insider Activity

In related news, insider Scott A. Evans sold 25,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 27,606 shares of the company's stock, valued at approximately $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.70% of the stock is owned by company insiders.

Merchants Bancorp Price Performance

Shares of MBIN traded down $3.49 during trading hours on Thursday, hitting $33.68. 184,413 shares of the company were exchanged, compared to its average volume of 186,415. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company has a market capitalization of $1.54 billion, a PE ratio of 5.34 and a beta of 1.15. The firm has a fifty day simple moving average of $39.98 and a 200-day simple moving average of $40.21. Merchants Bancorp has a one year low of $33.60 and a one year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share 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, sell-side analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given 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 dividend yield of 1.19%. The ex-dividend date was Friday, March 14th. Merchants Bancorp's dividend payout ratio (DPR) is 6.34%.

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.