Basswood Capital Management L.L.C. Has $21.22 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Basswood Capital Management L.L.C. lowered its stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 581,753 shares of the company's stock after selling 20,201 shares during the period. Basswood Capital Management L.L.C. owned approximately 1.27% of Merchants Bancorp worth $21,217,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC bought a new position in Merchants Bancorp during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust bought a new position in shares of Merchants Bancorp during the fourth quarter worth approximately $82,000. Matrix Trust Co raised its position in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock valued at $96,000 after buying an additional 2,324 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Merchants Bancorp by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock valued at $130,000 after buying an additional 1,933 shares during the period. Finally, Inceptionr LLC grew its position in Merchants Bancorp by 13.7% during the fourth 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. 24.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler lifted 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. Raymond James reaffirmed an "outperform" rating and set a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th.

Merchants Bancorp Price Performance

NASDAQ MBIN traded down $0.59 during trading on Wednesday, hitting $30.06. 181,690 shares of the company's stock were exchanged, compared to its average volume of 191,568. The stock's 50 day moving average price is $35.13 and its two-hundred day moving average price is $38.05. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market cap of $1.38 billion, a PE ratio of 4.76 and a beta of 1.31.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.93 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. The firm had revenue of $287.20 million during the quarter, compared to the consensus estimate of $169.00 million. Research analysts expect that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is currently 7.35%.

Merchants Bancorp 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.