Renaissance Technologies LLC Purchases 62,600 Shares of Merchants Bancorp (NASDAQ:MBIN)

Renaissance Technologies LLC increased its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 254.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,200 shares of the company's stock after purchasing an additional 62,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.19% of Merchants Bancorp worth $3,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC grew its stake in Merchants Bancorp by 1.1% during the fourth quarter. LPL Financial LLC now owns 47,903 shares of the company's stock worth $1,747,000 after buying an additional 527 shares during the last quarter. Inceptionr LLC lifted its position in Merchants Bancorp by 13.7% during the 4th quarter. Inceptionr LLC now owns 5,718 shares of the company's stock worth $209,000 after buying an additional 687 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Merchants Bancorp during the fourth quarter valued at approximately $25,000. Rhumbline Advisers raised its position in Merchants Bancorp by 4.4% in the 4th quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock worth $1,049,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Merchants Bancorp by 10.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,610 shares of the company's stock valued at $496,000 after acquiring an additional 1,303 shares during the period. Institutional investors own 24.57% of the company's stock.

Analyst Upgrades and Downgrades

MBIN has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research note on Thursday, January 30th. 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 report on Thursday, March 13th. Finally, Raymond James reduced their target price on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Insiders Place Their Bets

In other 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 transaction of $1,077,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 34.80% of the company's stock.

Merchants Bancorp Trading Up 1.1 %

NASDAQ MBIN opened at $32.57 on Thursday. 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 stock's 50-day moving average is $37.02 and its 200-day moving average is $38.91. Merchants Bancorp has a one year low of $30.73 and a one year high of $53.27. The firm has a market cap of $1.49 billion, a P/E ratio of 5.16 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 for the quarter, beating 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%. Sell-side analysts anticipate 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. Investors of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. Merchants Bancorp's dividend payout ratio is presently 6.34%.

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.

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