57,433 Shares in Merchants Bancorp (NASDAQ:MBIN) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,433 shares of the company's stock, valued at approximately $2,095,000. Raymond James Financial Inc. owned 0.13% of Merchants Bancorp at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in Merchants Bancorp during the fourth quarter worth about $241,000. Renaissance Technologies LLC increased its position in shares of Merchants Bancorp by 254.5% in the fourth quarter. Renaissance Technologies LLC now owns 87,200 shares of the company's stock worth $3,180,000 after purchasing an additional 62,600 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Merchants Bancorp by 28.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,426 shares of the company's stock valued at $818,000 after purchasing an additional 4,990 shares in the last quarter. Wells Fargo & Company MN lifted its position in 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 purchasing an additional 1,303 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. purchased a new position in Merchants Bancorp in the 4th quarter worth approximately $3,509,000. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MBIN has been the subject of several research reports. Raymond James reiterated an "outperform" rating and issued a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday. Morgan Stanley cut their price objective on 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 raised their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th.

Merchants Bancorp Trading Down 2.0 %

Shares of MBIN stock opened at $30.08 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. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $53.27. The business has a 50-day moving average of $35.94 and a 200 day moving average of $38.49. The stock has a market capitalization of $1.38 billion, a PE ratio of 4.77 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.32). The firm had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. Merchants Bancorp's 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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