Raymond James Financial Inc. Buys Shares of 57,433 Merchants Bancorp (NASDAQ:MBIN)

Raymond James Financial Inc. bought a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MBIN. Kestra Investment Management LLC purchased a new stake in shares of Merchants Bancorp during the 4th quarter worth $25,000. Bank of Jackson Hole Trust acquired a new stake in Merchants Bancorp in the fourth quarter valued at $82,000. Matrix Trust Co lifted its holdings in Merchants Bancorp by 730.8% during the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company's stock worth $96,000 after buying an additional 2,324 shares during the last quarter. Inceptionr LLC boosted its position in shares of 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 acquiring an additional 687 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Merchants Bancorp in the 4th quarter valued at about $241,000. Hedge funds and other institutional investors own 24.57% of the company's stock.

Wall Street Analysts Forecast Growth

MBIN has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Raymond James restated an "outperform" rating and issued a $41.00 target price (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Finally, 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 note on Thursday, January 30th.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN traded down $0.40 during trading hours on Tuesday, reaching $30.70. The stock had a trading volume of 159,278 shares, compared to its average volume of 191,495. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 4.87 and a beta of 1.31. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27. The firm has a 50-day moving average of $35.13 and a 200-day moving average of $38.05. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Equities research analysts predict 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date of this dividend 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 1.30%. Merchants Bancorp's payout ratio is currently 7.35%.

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.