XTX Topco Ltd Acquires Shares of 10,734 Merchants Bancorp (NASDAQ:MBIN)

XTX Topco Ltd bought a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,734 shares of the company's stock, valued at approximately $391,000.

Other hedge funds have also modified their holdings of the company. Elser Financial Planning Inc bought a new position in Merchants Bancorp in the 4th quarter worth approximately $994,207,000. Valeo Financial Advisors LLC lifted its stake 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 valued at $8,221,000 after acquiring an additional 6,882 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 16,666 shares during the last quarter. State Street Corp increased its position in Merchants Bancorp by 4.7% in 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, Franklin Resources Inc. raised its holdings in Merchants Bancorp by 85.3% during the 3rd quarter. Franklin Resources Inc. now owns 33,338 shares of the company's stock worth $1,504,000 after purchasing an additional 15,342 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $32.20 on Wednesday. The firm's 50 day simple moving average is $37.23 and its 200 day simple moving average is $38.96. Merchants Bancorp has a fifty-two week low of $30.73 and a fifty-two week high of $53.27. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 5.10 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 (NASDAQ:MBIN - Get Free Report) last posted its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued 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 1.24%. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp's dividend payout ratio is 6.34%.

Insider Transactions at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 27,606 shares of the company's stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MBIN has been the subject of several analyst reports. Piper Sandler lifted their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research report 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 dropped their target price on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd.

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.

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